At present, the Bitcoin market still maintains a wide range of intraday fluctuations, and the price fluctuates around 98,000. From the market point of view, the market has entered a short-term repair and consolidation stage. Although the intraday fluctuation range reaches thousands of points, the overall trend has not deviated from the fluctuation range.
Short-term market analysis:
The trend of Bitcoin is currently showing a slight pressure, mainly subject to the pressure of the 100,000 mark. This price range is considered to be the core area of the market's long and short game. If the price can effectively break through and stand firm at the 100,000 mark, the market is expected to usher in a strong wave of rising prices. If it fails to break through, the suppression of this mark may cause the price to fall further.
Subsequent focus:
Breakthrough of the 11,000 mark: This key point is both a psychological barrier and a technical pressure point. The breakthrough of the market requires the cooperation of trading volume.
2. Continuation of the fluctuation range: In the absence of major news or capital inflows, Bitcoin may continue to maintain a wide range of fluctuations in the short term. Investors need to focus on whether the support area below is stable.
3. Changes in market sentiment: At present, the overall market sentiment is cautious, and both long and short sides are waiting for clearer direction signals.
The recent Grayscale Selection craze has begun to cool down, and the prices of some altcoins have gradually returned to the level after the plunge last Friday. As I said yesterday, don't chase high prices at this time, especially for currencies with high short-term speculation risks. The current stage may be an opportunity for some high-quality projects to bottom out again. For the medium and long term, this is actually a good time to re-arrange.
Intraday focus
Support level
97800 95000
