Market Outlook

Bitcoin did not break 84, so it rebounded. There is uncertainty above.

In previous market outlooks, I mentioned that breaking below 84 would mean a larger decline, but holding above 84 and consolidating indicates a bottoming rebound. Despite multiple aggressive attempts downward, Bitcoin has consistently stayed above 84 and subsequently rebounded.

Nevertheless, after the rebound, Bitcoin faced resistance at the 90,000 level and is currently trading in the 88k range.

If it breaks through 90,000, the next resistance level is the "resistance and the opening price of the yearly line" above, which is around 94,000.

The overall fluctuation range is between 84,000 and 94,000, with 90,000 as the dividing line. Currently, it is in the lower half of this range.

Breaking through 90,000 would enter the "upper part," with the upper boundary at 94,000.

Next, let's discuss whether a mid-term bear market rebound could occur.

I believe a mid-term bear market rebound is definitely possible, whether starting now, slightly falling below 80,500 and recovering, or dropping below 74 (completely crushing the illusions of credibull, astro, and others) and then rebounding. The rough estimate for the rebound target remains around 100,000. However, timing this rebound is extremely challenging.

If a break above 94 confirms a mid-term bear market rebound, with the target only around 100,000, then chasing higher might have limited room.

Conversely, I believe that after the mid-term bear market rebound ends, there will be significant room for further decline (~40,000 points).

Therefore, for many traders, not making any trades until March might yield higher returns.

This article is sponsored by #BCGAME | @bcgame @bcgamecoin