Long-term bullish.
2024-2-4-0236 points.
Modified on 2024-2-5-0106.
On January 11, nine Bitcoin B spot exchanges including BlackRock and Fidelity from the United States began to enter the market, and Grayscale crashed the market.
On January 23, Bitcoin B hit a recent low of 38,000, and then fluctuated upward, indicating that the takeover (BlackRock) was stronger than the selling pressure (Grayscale).
Now it is 24 days away from 1-11. Looking at the gains and losses of the 24-day moving average, we can know the outcome of the game between the American institutions and Grayscale. It is predicted that the market will mainly rise in the future. The worst case scenario is that the market will fluctuate between 40,000 and 44,000 for a period of time, but after that it will still be mainly rising.
The main force of this market has changed from Grayscale to American institutions (BlackRock, Fidelity). It is also easy to calculate their fuzzy costs. For example, if you enter the market on 2024-1-11, and today is 2-3, you have been in the market for 24 days. You can see it by looking at the 24-day moving average. This is a clear sign. After a big surge, no matter it is sideways, oscillating, or falling, as long as it breaks below their cost line, the bear market has begun. But before that, before 69,000, there is nothing to worry about. Just do your best to go long in the medium and long term.
The biggest advantage for retail investors now is that they know the cost of the American main force, so don’t be afraid before 69,000, and go long as much as possible.
The first goal is to hit the historical high of 69,000, and this can definitely be achieved in the bull market with reduced production.
The second target is 100,000. This depends on the ambition of the American institutions and cannot be predicted now.
