BTC Tightrope Walking! Is $100,000 Heaven or Hell?
Brothers, Bitcoin is walking the tightrope today at $98,000-$99,000, and the Bollinger Bands are about to reveal themselves!
Technical script reveals:
Upper yellow line: Four times hitting highs only to be suppressed by bears, with large short positions piling up. However, BlackRock's IBIT swept 25,000 BTC in a week, and the ammo stockpile is exploding; once it breaks through $99,000 and stabilizes, the psychological barrier of $100,000 will be breached in a snap.
Middle white line: The lifeline for bulls, the 50-day moving average is at $94,505; will the whale dare to break below $95,000? First, let's see if BlackRock's 600,000 BTC reserve agrees.
Lower purple line: The nuclear button defense line, but the selling pressure from Grayscale has been digested, combined with the expectation of a Fed rate cut in September; breaking below $92,000 is unlikely unless the US stock market crashes + Satoshi Nakamoto resurrects to sell coins.
News double-edged sword:
Bullish to the max: BlackRock's holdings exceed 600,000 BTC, institutions started building long positions from $94,400, and the number of open futures contracts surged by 89. Hidden danger: If Nasdaq dives, it could bring down the crypto market, but after the Fed's interest rate decision, BTC rebounded quickly, and the bearish news has already been used as fuel by the whales.
Two strategies:
Chase the breakout: If it stabilizes above $99,000, go all in, target $100,000, second target previous highs of $108,000-$112,000. Pinning back and shorting: If a long upper shadow appears around $98,970, short towards the $96,000 support zone; those who chased long at $98,500 last night have already been liquidated.
Hardcore advice:
Spot traders should lay back and watch, contract players must remember to be quick, accurate, and ruthless; $1,000 fluctuations are the norm. ETH has completed its Pectra upgrade, and breaking $1,880 could lift altcoins, but volatility can be deadly, so newbies should be cautious. Lastly, a harsh reminder: this market resembles the night before hitting $20,000 in 2017.
But remember, after the carnival, there must be a washout, and pinning back is meant for brainless scalpers. Only by setting stop losses can one survive until the end of the bull market!
Blindly trying to go solo will never bring opportunities; why not follow those with insight? I will lead you to explore tenfold potential coins! Top-tier resources!
Intra-day focus: LTC ETH KAITO BTC
