Bitcoin breaks through the $100,000 mark, but it seems fleeting! Caught in a pattern of ups and downs
Yesterday morning, Bitcoin surged past the $100,000 mark, encountering almost no significant resistance during its rise, with its contract price peaking at $104,700. The price difference between spot and contract at one point exceeded $500. However, in the early morning hours, short sellers suddenly gained strength, causing the price to fall below the support level of $95,000, dipping to around $91,000, displaying a typical up-and-down washout pattern. From the daily chart, it shows a doji candlestick pattern, suggesting that the current market trend should be treated as a sideways market. The suitable entry point for short positions is around $99,000, with a stop-loss set to trigger when the price reclaims $100,000, and the take-profit point set at $96,000.
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