1.14:Bitcoin Bulls to Continue, Avoid Misjudging the Situation

Huanzhang updated the bullish article "1.13: Bitcoin Brewing a Bullish Counterattack, Horns Could Sound at Any Time" in a timely manner yesterday. As expected, Bitcoin continued to rise from yesterday evening to 6:00 AM today, successfully breaking through the resistance zone of 94,800 USD, the upper boundary of nearly two months of consolidation, achieving an effective breakout. After the analysis was published, BTC price continued to surge by more than 4,000 USD.
Regarding the upcoming market, Huanzhang believes that the bulls will continue because the price breakout is not simply to induce more selling, but there are higher price demands. After all, the main force has bottom reserves of exchange chips and needs to sell at higher prices for profit. Therefore, blindly shorting during this period is not easy to profit from. For this kind of rapid upward movement, the price is usually stabilized, and there are not many opportunities for low-level long entries. Accordingly, rational participation can continue to engage in long positions, using pullbacks to add positions to respond to the bullish trend. Blind shorting is not recommended because the profit from pullbacks on short positions is small, and they may be overwhelmed again by well-rested longs at any time. Meanwhile, the upper level has sufficient height, so patience in holding is advised.