The recent market has really made investors take a roller coaster ride. Take Bitcoin for example. The price trend is unexpected. It has risen unilaterally from 93,300 to 98,700. This unilateral market caught the market off guard. Before many people could react, the price had already soared.
Nowadays, the market's attention is focused on the key point of 99,000. Looking back at the previous times, when the price of Bitcoin approached 99,000, it created the illusion of a break, which attracted many investors to enter the market, but in the end it did not really break through. This "wolf is coming" situation has been repeated, making investors cautious. Everyone is waiting to see whether 99,000 will be successfully broken this time.
From the daily level, Bitcoin still maintains a volatile structure. However, once Bitcoin effectively stabilizes above 99,000, the meaning will be very different. Our previous bullish view to 102,000-103,000 will become more firm. If it can break through the key resistance level of 99,000, it means that Bitcoin is expected to open up new upside space and move towards a higher goal.
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