Bitcoin has been showing a strong upward trend since breaking through the converging triangle on the 1st. After two days of sideways consolidation over the weekend, it ended the week on a positive note. Bitcoin has essentially broken through most of its resistance levels, with just one final push needed.
Currently, the bulls and bears of Bitcoin are locked in a fierce battle and neither side wants to easily give in. This is a suitable time for short-term operations while also keeping an eye out for opportunities for a pullback.
Some people often talk about how it would be great if Bitcoin could pull back to 84,000 and then build a position. However, for short-term traders, this is extremely risky and can easily lead to the bears seeing 84,000 as a possibility. As long as Bitcoin can hold its support around 90,000, there is no need to discuss the bearish view dropping to 80,000-70,000. Bitcoin has tested the 90,000 support level numerous times without breaking, and then quickly rallied back to around 96,000-97,000, stabilizing at the central point of 95,000. Breaking through 97,200-97,700 would signal a reversal, as breaking this level would immediately lead to 98,200-98,800, and once the pressure at 98,200 is absorbed, it will push towards 100,000 and beyond.
Currently, altcoins are only following the rise of Bitcoin and have not shown independent trends. There are four upcoming events to pay attention to:
1. On January 9th, the Federal Reserve will release the minutes of the December monetary policy meeting at 03:00.
2. On January 10th, the US will release the December seasonally adjusted non-farm employment data at 21:30, as well as the December unemployment rate at 21:30.
3. On January 15th, the Consumer Price Index (CPI) will be released.
4. On January 20th, Trump will be inaugurated.
With Trump taking office in two weeks, today’s certification of Trump’s victory by Congress is a positive development. Once the positive news is confirmed on January 20th, a pullback can be expected, providing a good opportunity to sell at high prices.
The trends of TREMP, MAGA, and FIGHT are quite obvious. The price increase from the 2nd until now has been mostly within the range of 50%-100%, and after rapidly rising from the bottom, they have significant potential. They are expected to generate a 10-fold return in the next two weeks.
Speculation requires the ability to leverage short-term momentum and inertia. Be bold!
1. WAVES
Waves is a real coin from Russia. Whenever there is any volatility in Russia, it jumps with excitement. It can also be attributed to the foreign exchange currency behind it, which is somewhat related to Trump. Keep an eye on it!
2. IO
The volatility of old coins in the past has been decreasing, while IO has become the new leader. Looking at its chart pattern, IO is currently in a monthly-level uptrend, so it is important to hold a position at the monthly level.
3. FIL
FIL’s volatility has increased today, indicating a potential short-term surge. However, when it comes to the future, it can only rely on the strength of the trend to move upwards. Overall, it is still not optimistic.