Will Bitcoin drop to 57,000?

We have seen Bitcoin break through 100,000 USD multiple times and then pull back down. This kind of volatility will continue until Trump officially takes office, and it is highly likely that it will break through 120,000 USD on that day. So will it really drop drastically as everyone anticipates? Can it hold firmly at 100,000 USD? If it drops, how low will it go?

1. It can be anticipated that Bitcoin will definitely have a pullback. Whether it's Bitcoin or stocks, all financial products do not rise forever; they all experience fluctuations. After a big rise, there will be a decline, and after a decline, there will be a rise. This is a pattern, and a pattern is difficult to break.

2. How much will it pull back? Currently, it seems that the mid-band of the Bollinger Bands on the monthly chart is around 57,000, while the weekly chart is around 81,000. If the mid-band on the weekly chart holds strong, it won't drop to 57,000 in the short term.

In the face of this situation, how should we respond?

1. For those holding spot, you can sell half when it peaks.

2. After Trump takes office, you can consider shorting contracts, but be cautious with leverage to avoid liquidation.

The cryptocurrency market has risks; trading cryptocurrencies requires caution. The above is for reference only and does not constitute investment advice!