Analyst: The consolidation of Bitcoin prices is nearing its end, the market may welcome a strong rebound
According to Cointelegraph, since the first breakthrough of $90,000 on November 19, 2024, Bitcoin's price has been consolidating in the range of $91,000 to $108,268. Several analysts believe that the current price consolidation is about to end.
Analyst Rekt Capital pointed out that the current four-week adjustment with a drop of 15% is nearing its end and is far below the historical retracement range of 30-35%. Technically speaking, Bollinger Bands indicator shows volatility at oversold levels. In addition, it is widely expected in the market that after Trump's inauguration on January 20th he will issue executive orders favorable for cryptocurrencies; bullish options trades up to $12k have already appeared on Deribit options platform.
Analyst Trader Tardigrade predicts that after completing this final round of retracements there may be a strong rebound in the market.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
After Jensen's resignation, the "Big Short" doubles down on shorting tech stocks! Warns the AI boom may turn into a "bull trap"
Michael Burry increased his short positions following Huang Renxun's resignation. He compared Nasdaq’s October peak to the top of the 2000 internet bubble. On November 12th, he doubled his put option positions on the Nasdaq 100, with expiry set for early 2027, and rebuilt put options on the VanEck Semiconductor Index. He directly warned investors to "exit the market" and predicted a significant correction in chip stocks before mid-2027.
Tesla (TSLA.US) Cybercab limited pre-orders open: priced at $29,990, with an additional monthly operating fee of $299
According to reports, Tesla has invited select customers to reserve the Cybercab, taking a step toward launching this self-driving model to general consumers.
Fed Vice Chair Sets the Tone: Inflation Is the "Most Important Signal," Interest Rate Decisions Depend on It
Federal Reserve Vice Chair Philip Jefferson stated that when policymakers consider whether to raise interest rates further, inflation has become the most important metric.
Elon Musk Leads Petition! Silicon Valley Supports Jensen Huang as Tens of Thousands Call for the Return of the Founder
Elon Musk has publicly co-signed a petition in support of Jensen Huang’s return to NVIDIA. The number of signatures on the petition website has surpassed 14,000, causing the site to almost crash due to a surge in traffic. What is raising further alarm in the capital markets is that NVIDIA’s core engineers have made collective statements, warning that if senior management mishandles the situation, key technical talent may leave, potentially undermining NVIDIA’s competitive moat.
Crypto prices
More
