There is nothing new in the cryptocurrency world. Greed and fear alternate. Only those who stick to their beliefs will have the last laugh.
Dear coin friends, today KK will talk to you about the BTC market that makes people love and hate it. As of today, BTC is fluctuating around $109,000, and has fallen back by about $10,000 from its historical high of $1,119,80. This wave of adjustment seems fierce, but it is actually a typical feature of the bulls accumulating strength.
From a technical perspective, the 4-hour candlestick chart has a standard "rising flag" pattern. The 7-day moving average (107,300 US dollars) and the 30-day moving average (105,800 US dollars) remain in a long position, and the MACD daily level has not yet crossed, indicating that the medium-term rising channel is intact. The recent continuous closing of the cross star is actually a signal of a change in the long-short game. In terms of trading volume, the trading volume was US$32 billion when it rose the day before, and it shrank to US$28 billion yesterday, which is in line with the characteristics of a healthy adjustment in the bull market.
This callback is mainly affected by three factors:
1. US stocks fall
2. Negative news (e.g. regulatory crackdown and US tariffs)
3. Simply rising too much and then falling
Personally, I think this pullback is a golden opportunity to get on board. My strategy is: use the pyramid method in the range of 107,000-110,000 US dollars, increase the position by 10% for every 1,500 US dollars drop, and dynamically move the stop loss to 104,500 US dollars. For holders, as long as the price stands firm on MA30 (105,800 US dollars), continue to hold the currency and wait for it to rise.
Yesterday, there was news that Tesla's Shanghai Super Factory was deploying Bitcoin mining machines. Although the official did not comment, the concept stock Marathon Patent soared 23%. Historical rules show that every time Tesla is associated with BTC, it will cause market sentiment fluctuations. In February 2021, Musk announced support for BTC payments. That month, BTC soared from 33,000 to 64,000 US dollars, an increase of 93%.
Remember: bull markets tend to see sharp declines, while bear markets tend to see gloomy declines. In May 2021, BTC plummeted from 64,000 to 30,000, but then rose by 160% in the following two years. There are two points that really need to be vigilant:
1) Exchange run-style liquidation;
2) Regulatory policies have tightened beyond expectations. Currently, global spot BTC ETFs have seen net inflows for 12 consecutive days, with a total size exceeding US$58 billion, which is more ferocious than the 2021 bull market.
Finally, a soul-searching question: When the mainstream media are all bearish, do you believe in fear or in data? Tell us your choice in the comment section. If you find the analysis useful, please follow me. Tomorrow, KK will show you the three potential coins that institutions are planning!
Risk warning: This article does not constitute investment advice. The market is risky and operations should be cautious.
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$BTC
