If tomorrow Bitcoin reverses to pick people up, would you dare to get in the car?
Just yesterday, Bitcoin broke a new high, and this morning it once again set a price record, reaching 81568. This speed is truly astonishing; who would have thought it would happen so quickly?
What was supposed to be a quiet weekend has now become a nightmare for bears. Just the day before yesterday, I mentioned we should continue to push forward, expecting to break 80,000 within this month, but the reality has far exceeded expectations. The strength of the bulls is indeed overwhelming, and even the weekend has seen no signs of a pause.
After Bitcoin continuously breaks historical highs, the bears feel it should correct, and many have joined the bear camp at the price levels of 76000 and 77000. As a result, there is no doubt that they have once again fallen into a trap, getting a severe lesson from the market makers.
Brothers, we should never attempt to decipher the market makers' tricks. If we follow the current trend, with continuous fund inflow into ETFs, and if the wise king can fulfill the commitments related to Bitcoin after taking office, then it is very hopeful for Bitcoin prices to break six figures by early next year.
So, will there still be an opportunity to get in during a correction?
The market will not complete its journey in one day. If Bitcoin surges to 100,000 within the next few days, then this market could be dangerous and is likely to create a bubble. The higher the price, the more people, including myself, would hesitate to chase the highs.
A correction is inevitable; even in a crazy bull market, there will be ups and downs. A temporary correction is for better upward movement later; after adjustment, restoring an upward trend is what a healthy market looks like.
As for when the correction will occur and to what price level it might drop, we need to closely monitor market dynamics and the fear and greed index. Currently, the fear and greed index is nearing 80, reaching 786. Historical data shows that whenever this value exceeds 80, Bitcoin will drop at least 20% within two weeks. This is just historical data, for reference only.
Additionally, we should pay attention to the situation in the U.S. on Tuesday. The price increase from the weekend until now is a result of emotional driving. If tomorrow's price can maintain the current increase, then the situation will be fine; otherwise, we need to be cautious.
If you want to grasp this round of the bull market, it's definitely too late to learn on the fly; it's best to have someone guide you quickly.
I am David, welcome to communicate!
