As the monthly line for Bitcoin is about to close, the market seems to be brewing a thrilling price fluctuation. From the current trend, it is highly likely that Bitcoin's price will see a significant retracement next month, with an initial judgment that the price will at least fall back to around $85,000, and it cannot be ruled out that it may further drop to lower levels.
Looking back at Bitcoin's recent trend, we can see a concerning phenomenon: the price has attempted to rebound to around $95,000 three times, but each time it faced heavy selling pressure and quickly dropped back. Meanwhile, trading volume has been increasing, and this divergence in volume and price is extremely critical. It indicates that despite active market trading, the price struggles to rise effectively, suggesting that there is significant selling pressure above. In other words, those investors who are trapped at high positions are eager to sell their holdings, leading to a gradual depletion of upward momentum in the market.
In this case, the operating methods of the main funds also become crucial. They are likely to choose to maintain a monthly line closing in the positive territory through sideways oscillation. This means that, in the short term, the Bitcoin price will form a range of oscillation near $95,000. The main funds will gradually absorb the selling pressure above through repeated wash operations, preparing for subsequent trends.
Even if the price temporarily breaks through the high of $95,780, its upward space is extremely limited. It may at most reach the range of $96,200-$96,800, and once it approaches $97,700, it can basically be seen as the limit of the upward movement. Therefore, investors need to pay special attention to the following key points:
Resistance level:
• $95,500 (Key short-term resistance level)
• $96,600 (Dense trading area, concentrated selling pressure)
• $97,700 (Strong resistance zone, limit of upward movement)
• $98,200 (Historical high area, psychological pressure level)
Support level:
• $93,000 (Important short-term support level)
• $92,200 (Lower edge of the oscillation center, key point for long and short trades)
• $91,600 (Boundary line between long and short positions, increased risk below)
• $90,900 (Deep support level, beware of breaking below)
Based on the above analysis, investors can refer to the following operational ideas:
• Short on highs: Attempt to short around $95,200, with a target profit set near $92,200. The core of this strategy is to leverage the current market's lack of upward momentum and heavy selling pressure above to capture the retracement.
• Long on lows: When the price falls to the range of $92,220-$91,600, consider buying on the dip, with a target profit set in the range of $93,400-$94,500. This strategy is based on the market's repeated fluctuations within the oscillation box, taking advantage of short-term rebound opportunities to gain profits.
In summary, the Bitcoin market is about to welcome a critical moment as the monthly line closes. Investors need to closely monitor price trends and changes in trading volume, flexibly adjust their operational strategies to cope with the upcoming market fluctuations.
The above trading strategies and suggestions are for reference only and should not be used as the basis for investment decisions. Please remember to set stop-loss and take-profit levels!
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