Last night, the market just completed its short positions, and two bombshell pieces of news ignited the market!
The Chinese Ministry of Commerce announced that it would discuss tariffs with the U.S. Treasury Secretary next week, and this news sent market sentiment soaring. To make matters even more intense, the U.S. just passed a bill allowing state governments to use 5% of their reserves to buy Bitcoin, opening the door for institutional funds to enter the market.
Bitcoin surged directly to the previous high of 98,000 due to favorable news; although it has since retraced, the enthusiasm for buying in the market is still clearly felt.
The key to this market trend hinges on two time points:
One is before the results of the China-U.S. negotiations next week, where the market will continue to hype this expectation, and shorts should be particularly cautious.
The other is the Federal Reserve's interest rate meeting early this morning; although China has already made the first move by cutting the reserve requirement ratio, the Fed's stance can still determine the short-term trend.
From a technical perspective, Bitcoin is currently oscillating in a large range between 100,000 and 92,000. Don't chase the price near the upper edge, and don't panic if it drops to the lower edge; if you grasp the rhythm well, you can profit.
In terms of operations, remember three points:
First, the favorable tariff news will ferment until the 12th, so try to go with the trend during this period.
Second, the psychological barrier of 100,000 is under significant pressure; remember to take profits in batches as you approach it.
Third, position management is more important than merely looking at the direction; don't get overly excited and go all-in. Each time such a policy emerges, it's a new opportunity; it's all about whether you can seize this chance for wealth redistribution! The market never lacks opportunities; the question is whether you can grasp them. By following experienced and the right people, we can earn more!