Bitcoin has continuously hit new historical highs, and the trend in the past few days has been that it fluctuates during the day and breaks new highs at night. Before each new high, the pattern looks like it's going to drop, but it often breaks through upwards, so don't short in a bull market.
The upward momentum of Bitcoin is still very strong, and the market sentiment is also very high, so there will not be a big drop for the time being. Moreover, there seems to be no major negative news, so I plan to wait for a small pullback and then go long again, with an entry point at 86,500-86,000 and a stop loss of at least $1,000. The volatility is currently quite large, but the profit is greater than the risk!
Bitcoin has continuously broken new highs, but Ethereum has not yet reached $4,000, which should have already broken through $5,000 normally. Therefore, there is a chance for a catch-up rally in the future, and once it starts, Altcoins will also rally in tandem.
As for the trend, Bitcoin has not yet reached its top, so Ethereum will also follow and rise. Next, you can wait for a small pullback and then go long, with an entry point at 3,250-3,280. In this raging bull market, just blindly chase the uptrend without worrying about the stop loss, and never short!
The current market sentiment is somewhat contradictory. Bitcoin holders and MEME are continuing to surge, with good sentiment, but the gains of Altcoins are not satisfactory, and many are worried that if Bitcoin corrects, Altcoins will follow the decline.
Many people have asked me about my outlook for the future market. Given the current trend, I am also conflicted.
When Bitcoin was at $49,000, $56,000, and $65,000, I was confident in going long on the pullbacks. But now, with Bitcoin at such a high level, a correction can happen at any time, and it's impossible to predict how Altcoins will perform.
I'm more inclined to think that if Bitcoin can stabilize between $70,000 and $80,000, the Altcoin bull market will come. But now, with Bitcoin approaching $90,000, it's hard to say.
The liquidation map now shows that the upside has been almost completely liquidated, and any short positions are being liquidated on the same day. Meanwhile, around $70,000, there has already accumulated nearly $11.5 billion in long positions. This one-sided situation makes it meaningless to use this data to predict when the downside longs will be liquidated. But I still see many people using this data to "expect a correction", and of course a correction will happen, but before it does, most of these people will likely have been wiped out.
The historic high of Bitcoin is accompanied by historic liquidations, so everyone needs to be careful not to get slaughtered.
To my knowledge, most of those who have been shorting recently have gone bankrupt, losing everything from trying to slay the dragon.
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