$BTC After rising to the technical resistance level of 94K at the beginning of the year, a pullback has occurred. How should we respond to the subsequent market movement?
At the beginning of the year, CoinKarma observed key market factors and discovered clear signs of a turning point in some market capital flows. Subsequently, the price successfully rose to the 94K technical resistance level, capturing a nearly 10% gain. Recently, after touching 94K, the price retraced, but judging from the performance of important market factors, the overall trend remains bullish, and there are no signs of weakness yet.
The following analysis will use the Market Pulse Index to predict future market trends:
✳️ Market Pulse Index: A weighted average of 11 metrics from CoinKarma.
As shown in the chart, the surge at the beginning of the year (point A) is significantly different from the "door-shaped market" of the previous period. The bullish surge has been more sustained, indicating that after more than a month of consolidation, the market is now more likely to break out of this consolidation range.
Our analysis using the Market Pulse Index, which includes overall market liquidity and key market factors, reveals that after the pullback to 94K, the overall data is similar to that before the rise at point A. Furthermore, when the price rose to 94K from point A, the relevant data did not show any obvious overheating signals. Therefore, the market is likely to continue its upward trend. However, it should be noted that the medium-to-long-term outlook remains bearish, and long should be wary of potential selling pressure.
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