Since January 19th, the market has been oscillating at the top, with technical patterns and indicators distorted. Subsequently, it has been fluctuating within a range of nearly 5%. Pure technical analysis is quite challenging, so it is recommended to temporarily ignore small-scale technical analysis.
As mentioned before, in an optimistic scenario, Bitcoin could reach around 104,000 to 105,000. I believe the current price has already reflected Powell's speech yesterday, and the market is relatively optimistic about the future. This has already been basically priced in, and the entry value is relatively low.
My plan now is to pay attention to the data at 9:30 PM. This is a hardcore data point; if it is favorable, I will go long, targeting 108,000, and there may be preparations for breaking through 110,000 (however, whether it can actually break through 110,000 will likely depend on the large non-farm payroll report a week later). If the data is unfavorable, I will go short, expecting another battle for 100,000, which is very likely to break below this level, targeting around 95,000 to 96,000.
