$BTC

Why is BTC fluctuating around 90,000? Will it go up to 100,000, and when?

Recently, we have seen BTC stay above 90,000 for almost seven days, with the price oscillating between 88,000 and 93,000. Why around 90,000? Since November 6, when Trump was elected, Bitcoin has been on a continuous rise, with almost no significant adjustments. From this point, it has increased by about 35 points. What does 35 points mean? Currently, Bitcoin's market value is approximately 1.8 trillion, which is now comparable to the total market value of silver. This increase of more than 30 points accounts for about 26% of the current total volume (if you can't calculate, feel free to leave a message), meaning that based solely on BTC, 0.46 trillion in wealth has been created out of thin air. The scale of BTC is no longer what it used to be, and this surge has brought in a large number of profit-takers. The 100,000 price point for BTC is a strong psychological barrier (strong psychological resistance level), so it is normal for a large number of profit-takers to take profits around 90,000. To break through the strong psychological resistance level of 100,000, some accumulation of power is needed to have enough strength to push upwards. In summary, the adjustment around 90,000 is an inevitable result of the game between both sides! How will it move next? In my humble opinion, BTC will oscillate upwards. During this period, players who have leveraged might find it quite uncomfortable. If you have leverage, you can reduce it (of course, holding low-position orders is not a problem), waiting for better points and opportunities.

Is 93,500 a resistance level? If it breaks through, will it go up in one go? I don't think so; it's not that it won't go up, but after going up, it might not move as smoothly as before and could experience significant fluctuations.

If BTC strongly breaks through the 100,000 barrier, due to market inertia, we might see a major correction around 120,000 to 140,000! After the correction, it may welcome the spring of altcoins. #市场围绕90K

Finally, I wish all viewers that what they bought in the bull market rises, and freedom for next year!