What is learned on paper is ultimately superficial; to truly understand, one must practice.
Hello everyone, I am trader Gege. After more than ten days of pressure and a large range of fluctuations around the 99000 line, Bitcoin broke through the 100000 mark today, reaching around 104600 and entering a period of consolidation. The breakthrough of 100000 has made it trending, and we once again witness history. Today, I will briefly update the article on Bitcoin.
It has been a while since the long article on Bitcoin was updated. I have been providing daily updates on short-term trading. The last update on the Bitcoin article was on November 24, when the price was around 98000. Let’s review the previous thoughts. At that time, I indicated that the market needed a pullback for adjustment and provided a short-selling trend idea around the 98000-99000 line. As a result, the market did pull back, finding support around 90800, with a total pullback space of about 8000 dollars.
The prediction for that pullback adjustment was accurate. Although it did not reach my expectations, I still maintain my previous view on the overall trend. The gap around the 85000-83000 line has not been filled, and I believe it is just a matter of time; the timing has not yet arrived. Perhaps this timing will occur during the bull market before the crazy bull phase, which we are not currently in. Regarding the market after breaking the 100000 mark, I also maintain the views from the previous article. If interested, you can review it again, so I won’t elaborate here.
From the perspective of market sentiment, this wave has just broken through the six-figure mark, and we need to continue to create an atmosphere of historical moments. From a technical perspective, the daily candlestick pattern feedback shows a top-bottom conversion around the 99000-98000 line, which can be referenced as a support area in the short term. Regardless, it is important to follow the market trend and manage your risk effectively. That’s all for today; for short-term trading, consider buying on a pullback to the 99800-98800 line, looking for a space of 3000-6000 dollars.
This advice is for reference only. Please manage your risk when entering the market, and assess your profit and stop-loss space accordingly. Specific strategies should be consulted in real-time.
Alright, friends, we will say goodbye until next time. I wish everyone success and smooth sailing in the crypto world! More real-time advice will be sent internally. This concludes today’s brief update. For more real-time advice on Bitcoin, find Gege.
Written by / I am trader Gege, a friend willing to help you rise again.
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