The price of Bitcoin has been sideways for 4 days. The horn of decline has been blown. Is Bitcoin going to reach 90,000?
1. News
1. Institutional situation
Compared with the data of the first two weeks of the institutions: we found that the first net inflow continued to increase, BlackRock's purchasing power weakened, and other institutions had risk aversion shipments. From the overall data, the market is waiting for the tone of interest rate cuts in December. Institutions have risk aversion. This week is the last week of November. The market has a relatively low surge and plunge. There is a high probability that it will be mostly consolidated at a high level. So our operation idea this week is to fight high and low. The high altitude is in the 99,000-10w area, and the low long is concentrated in the 95,000-97,000 area.
2. Market sentiment
After the big cake has been sideways at a high level for 4 days, the market's enthusiastic bullish sentiment has cooled down, and then slowly tends to be rational. Then everyone is more likely to take profits from the chips in their hands, or make a profit, or wait for a bigger correction before adding positions, not mindlessly adding positions, indicating that the market may cool down, and the correction may begin to change.
3. Market December interest rate cut and 10w situation
The market's expectation for the big cake to reach 100,000 at the end of November is lowered, and the probability of a rate cut in December is also decreasing. The market trend has recently begun to gradually move sideways, bringing a market sentiment that the entire market may fall or pull back.