$ETH $BTC No matter how high BTC rises
There will definitely be a significant drop starting with 7
No matter how high BTC rises this time, the final outcome must be a drop to the vicinity starting with the number 7. Whether BTC rises to 89600, 92000, or even 94000, it cannot escape the fate of a major drop. Why?
1. It is not yet the time for a significant rise. Whether it is sentiment, capital, or news, none of these are in place. For BTC to significantly rise, it must coincide with the Federal Reserve lowering interest rates, and the Federal Reserve has not yet made a clear stance. Currently, a major rise is merely a rebound, not a reversal.
2. From 100,000 to 70,000, there are too many trapped positions above. Without the Federal Reserve lowering interest rates and without capital entering the market, liquidity in the market has not changed. The existing capital and current retail investors cannot support a rise to 100,000. The main players cannot finish off all the trapped positions in one go, and then turn into a trap themselves to help retail investors break even. #US stock market declines
3. Before a major rise, retail investors must be bloodied first; otherwise, the weight of the vehicle is too heavy to pull up. Therefore, there will definitely be a drop that exceeds your cognitive range, and there will definitely be a deep spike. BTC cannot move without a significant drop and spike. #Cryptocurrency market rebound
So do not chase in the spot market; there is still a chance for a major drop. This opportunity may even break 70,000, and altcoins may hit new lows.