On the 23rd of this month, BTC broke a new high, reaching $99,588! While celebrating with excitement, many coin friends are also puzzled, why didn't it directly break through $100,000, but had to be just a little bit short? The answer is simple: the market selling pressure at the $100,000 mark is too great.
BTC's price reached its previous historical high of $69,000 in November 2021. It then plummeted, going through a year of decline, and fell to a low of $15,450 in November 2022.
After two years of upward correction, in March this year, with the release of the huge positive news of BTC halving, it returned to the $70,000 range. After hovering around $70,000 for half a year, this month, due to Trump's victory in the US election, it began to rise rapidly, directly reaching the $100,000 range! Breaking the historical high, creating the BTC miracle again!
On November 23, BTC's assault on the $100,000 mark failed, and the price fell by nearly 10%, falling back to $90,800. But this pullback did not break through the $90,000 mark, indicating that the selling sentiment of coin friends and institutions is not strong. Therefore, BTC is temporarily only in the sideways correction stage and has not entered a downward cycle. From a technical indicator perspective, the triangle lines are constantly narrowing, and BTC will continue to fluctuate between $91,000 and $98,000 until the next direction is confirmed.
Therefore, the conditions for BTC's price to break through $100,000 in December are:
1. The oscillation correction space narrows, but the BTC price does not fall below the $90,800 oscillation low;
2. Release a supportive positive news to drive the market's bullish sentiment.
By the way, XRP has been rising sharply recently, really three years without opening, and one opening to eat three years, amazing!
It has now reached $1.71, with a 24-hour increase of 18%, and a jump of 228% in the past month, with a market value exceeding $100 billion, successfully surpassing BNB to become the fourth largest cryptocurrency.
As an old public chain, compared to Solana and Ethereum, Ripple is slightly inferior in both coin price and ecosystem development. At the same time, due to the long-standing lawsuit between the SEC and Ripple, it has also been ignored by the market and even not optimistic.
Recently, it is reported that the New York Department of Financial Services plans to approve the Ripple stablecoin product RLUSD, on the one hand, the SEC lawsuit does not need to be fought hard, and on the other hand, the policy has given support, so it is obvious that someone is manipulating behind the scenes, so the subsequent retracement to the trend line can still be considered to get on board, with the hope of a new historical high~
Don't short easily in the future, XRP with such a large market value can quadruple in three weeks, what is impossible? The risk of shorting with shrinking volume is too high, and the high probability is that it will continue to rise with shrinking volume, which is the performance of the main force's high control. The appearance of the top K-line is a necessary condition!
Finally, a wealth code is recommended: CKB
At the daily line level, after 98 days of sideways consolidation, the EMA moving average has shown signs of a bullish alignment again. A similar situation occurred in early 2024, when the daily EMA bullish alignment was followed by a 1058.07% surge in the market in 71 days. Two long strategies:
Preemptive ambush: focus on the oversold area and capture potential rebounds.
Trend confirmation: wait for the green candle signal after the rally, and follow up accordingly. If the price falls below the EMA200, the current bullish logic will become invalid.
