Breaking $66,000, Is the Daily Double Top a True Breakthrough or a False Breakthrough?
After Bitcoin surpassed $63,000 yesterday, it continued to surge. It quickly oscillated and broke through several important levels, and this morning (15th) around 7 AM, it reached a high of $66,500, testing the previous high from the end of September once again.
As of the time of writing, there is a slight decline, currently reported at $65,266, with a 24-hour jump of 5.34%.
Will it successfully break through the previous high after this oscillation?
The daily level has returned to the top state of the end of September. If the double top structure can break through, the next step will directly reach $70,000! However, it cannot be denied that if this is a false breakthrough, there will be a significant risk of a pullback in the short term.
How high can BTC go in this bull market???
What could be the highest point for Bitcoin in this bull market? Here are my thoughts.
During the bull market cycle of 2020-2021, Bitcoin followed a 3-day line rebound cycle after the halving, lasting 12 months, with an upward space of 50,000 points. The last Bitcoin halving occurred on May 12, 2020, with a price around $10,000, so the peak reached before May 2021 was around $60,000, and the second peak in the second half of the year surged to $69,000.
If the weekly cycle lasts 12 months, the upward space is 12,000+, plus the price during Bitcoin's bull market halving is $73,000.
If the monthly cycle lasts 12 months, the upward space would be $70,000, making the highest point $150,000+.
In summary, the potential range for Bitcoin's highest point in the next bull market could be around $128,000 to $149,000!
Two Major Potential Benefits for the Cryptocurrency Market in November:
1- U.S. Presidential Election: On November 5, the U.S. presidential election will conclude, and Trump is expected to be re-elected.
2- There are 24 days until the Federal Reserve's interest rate meeting. Based on current data, the probability of a 25 basis point rate cut by the Fed in November is 88.5%. There is a high likelihood of two more rate cuts this year, which would be beneficial for the crypto market, allowing Bitcoin to break $75,000 and set a new historical high; it's just a matter of time.
Everyone, stay motivated! Whether you are currently in profit or not, those in profit shouldn't cash out; it's just a string of numbers. Those at a loss shouldn't worry either; you will earn back multiples in the future.
If you are still in cash, pay attention to these market hotspots:
Meme Coin Sector:
Neiro is currently leading the charge, being the frontrunner in this wave of Meme trends, backed by major BN investors and a strong community. Such projects often rely on emotional and capital-driven momentum.
2.AI** Sector:**
Projects like TAO, ARKM, AR, NEAR, AIT, etc., are rapidly rising, especially after presidential candidate Harris announced a strong push for AI development. Policy support is often key to the explosive growth of tech sector projects, making this wave of AI projects worth in-depth research.
Modular Project TIA:
Currently experiencing a short squeeze and significant rise, the TIA Foundation has also conducted a $100 million half-price OTC transaction. A large-scale unlocking is expected next month, and the market generally anticipates a pump before the unlocking. Additionally, TIA's shorting fee rate is as high as -160%, indicating very strong market shorting sentiment, making this wave of price increase worth observing.
On-chain Meme Project Terminus:
It is backed by Musk's Mars narrative, surging 2000 times within a week, with notable figures like Li Ping supporting it, and numerous grassroots communities actively promoting it. The nature of Meme coins allows them to attract a large amount of speculative capital, especially against the backdrop of market oscillation, where speculative funds are starting to concentrate on these on-chain projects.
The article is time-sensitive and for reference only; it will be updated in real-time.
Focusing on K-line technical research, sharing global investment opportunities via the public account: Crypto悟饭
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