Market Analysis


Currently, the price of BTC is around $61,000. The overall trend is still bullish, but there may be a pullback in the short term.
A brief review of the trend:
The first wave of pump: from $15,443 to around $30,000, with an increase of about 100%.
Second wave of pump: After 150 days of consolidation, the price reached $73,881, an increase of about 200%.
Currently, BTC has been consolidating for over 100 days and may continue to consolidate for a while. The expected third pump is expected to be equal to or greater than 100% of the first wave.
In the short term, BTC may pull back to around $55,000. The current consolidation phase may lead to a price drop below the previous low of $56,000, further testing around $55,000.
If BTC bottoms at $58,400, it needs to rebound and break through $64,000 before pulling back to confirm an uptrend. Therefore, it is recommended to wait patiently and consider going long when approaching $55,000.
Operation strategy: The closer to $55,000, the more long positions should be arranged. If the price breaks through $64,000, wait for a pullback near $60,000 before adding more long positions.
BTC3.29%
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