Bitcoin is Close to Hitting a New High
Short-term Outlook: Bitcoin is only about 10% away from breaking its historical high, which could happen in a matter of minutes given the daily fluctuations in the crypto market.
Long-term Trend: Despite a slight pullback in the short term, the overall trend remains upward, indicating that the long-term outlook for the market is still optimistic.
Technical Resistance vs Psychological Barrier: $70,000 is both a technical resistance level and an important psychological barrier. Historically, Bitcoin has spent very little time at this level, and each time it attempts to break through this position, it triggers a fierce market reaction.
Investment Mindset Comparison: In a bull market, some investors may lose patience due to excessive market fluctuations and exit the market. However, those who persist in the long term and adapt to market ups and downs often reap significant rewards in the long run.
