Master Analyst Discusses Hot Topics:
Bitcoin is really going crazy now, not only with its skyrocketing price, but also with the increasingly crazy behavior of institutions. It can almost be said that everyone believes Bitcoin is the universal currency of the future.
Yesterday, Tether issued another 1 billion USDT on the Ethereum chain, indicating a large influx of capital, which is one of the main reasons for the surge in Bitcoin prices from last night to this morning.
Seeing Bitcoin break through its historical high, the market's greed sentiment has soared, and the Fear and Greed Index remains at a high level of 83. The master analyst sees that the market seems to be betting that Bitcoin can reach $150,000.
In the past one to two years of the bear market, the master analyst has also said in video analysis that Bitcoin will reach $100,000. At that time, everyone thought it was an unreachable goal, but now it is about to be realized.
If the bulls make a little more effort, the target may be reached even tonight. However, the master analyst believes that although the opportunity is great, there is a high probability of a short-term correction, which may give everyone the illusion of breaking through $100,000.
Although the current market sentiment is still bullish, we need to be more vigilant. The market has been running for some time, and people's sentiment is becoming more and more optimistic. Retail investors are starting to become too greedy, and the risk of correction is very high at this time.
History has repeatedly proven that when everyone feels the market is about to take off, that is the time when the risk is greatest. There may be volatility risks in the short term, but in the long run, the market is still bullish. Bitcoin is expected to reach $150,000, but the process may be very tortuous and not smooth sailing.
As for Trump's return, the current atmosphere is increasingly like a crucial turning point for the cryptocurrency industry. The Trump administration's attitude towards cryptocurrencies may become more open, especially given the increasing fiscal pressure. The US debt problem may lead Trump to take some "extraordinary measures", and cryptocurrencies may be part of it.
With this potential policy change, the market may usher in a new round of frenzy, but we also need to be vigilant about the arrival of a bear market. If a bear market starts, the consequences may be unimaginable - like a runaway train without brakes.
So in this crazy market, we not only need to focus on the rise and fall of prices, but also be alert to possible policy changes and prepare countermeasures. If we really encounter a bear market, there may be more bloody moments. Don't forget, when the bear market comes, everyone will feel that cryptocurrencies are just a bubble, and only then will they know what the real bubble is.
Currently, Bitcoin has risen to nearly $98,000, and $100,000 is also a psychological barrier for Bitcoin. After breaking through, the market sentiment may explode, especially for Altcoins. After Bitcoin breaks its historical high, the market's FOMO sentiment will drive more capital inflows, and the opportunity for Altcoins to explode will come, but the Altcoin frenzy will not continue when Bitcoin corrects.
The master analyst recalls that after Bitcoin broke its historical high in March this year, Altcoins really started to explode. Now the market needs to break through these psychological barriers to release liquidity. So only when Bitcoin breaks through $100,000 will the explosion of Altcoins come.
Yesterday, the master analyst also talked about Ethereum. As for the questions everyone has been asking about Ethereum and Altcoins, the master analyst still firmly believes that it will lead the Altcoin season, just like Nvidia leading the US stock market to new highs. The market will always have liquidity rotation, and capital will constantly flow to find new opportunities. So don't worry, the explosion of Altcoins is just a matter of time.
Master Analyst Sees the Trend:
Bitcoin has continuously refreshed its historical high and is currently showing a unidirectional upward trend. The resistance above is currently difficult to determine using technical analysis, and it is impossible to clearly judge where the high point is. Therefore, the current situation is that we need to pay attention to the timing of the high point formation.
Although the RSI indicator is in the overbought area, the attached indicators are ignored by the market sentiment. It is recommended to follow the trend of the moving averages and operate the upward trend accordingly.
What can be confirmed at the moment is that it is very dangerous to enter the market at the current high point position. A better strategy is to wait for a correction to enter, and to take profits when the high point forms a range. Therefore, new positions are not recommended to be entered at the current position.
Resistance Reference:
First Resistance: $101,950
Second Resistance: $98,800
Support Reference:
First Support: $94,800
Second Support: $94,000
Recommendation for Today:
The current market is experiencing a unilateral upward trend, ignoring the downward technical analysis. Therefore, although the short-term short strategy is reasonable, the timing of entry is very dangerous. Whether it is long or short, caution is required. If choosing to short, a tight stop-loss must be set and strictly executed.
Master Analyst's Wave Preset on 11.21:
Long Entry Reference: $95,450 light long, if retraced to $94,000-$94,800, directly long. Target: $96,000-$98,000-$98,800
Short Entry Reference: Not Considered
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