On the fifth day of the Lunar New Year, welcome the God of Wealth!
BTC
From December to now, it has been two months, and it has basically been in a so-called 'garbage' market. At this position, everyone has their own opinions. Some friends see a continuous upward trend that could reach 120,000 to 150,000, while others see a lower target of 80,000. After two months of fluctuations, the upward momentum at this position is gradually weakening. This year, despite significant positive news and transitions of power, it has not driven the price up, which is indeed influenced by the broader environment and funding.
Currently, Bitcoin's weekly level has made a pullback. Even if the daily line does not break below 92,000, it will continue to fluctuate and repair around the range of 92,000 to 109,000. You can refer to the period from March to November 2024.
To put it directly: At this position, I personally believe that it has not yet corrected adequately, therefore, the upward strength in the short term is not strong, and it will still experience fluctuations and a downward trend. Lower support levels: 96,500-92,000-88,000
