Will Bitcoin reach $88,000?
Assalamu Alaikum
How are you? By Allah's grace, I'm doing very well.
As you can see here, we are currently in the daily time frame of Bitcoin, so in the current situation, every analysis we give in the market will have a high probability of going against us. So, without saying anything hastily, we have to follow a plan, the news coming into the market is positive for the long term and the news that is war news and other news are threats for the short term. And I will share the plan that I will move forward with today, you can see here that there is a resistance level above $109,000 and this resistance level could not break even after trying four times. If it can somehow break and sustain upward and make a sideways movement, then we will understand that Bitcoin has the possibility of crossing its all-time high again. And everyone knows that it is late, but in the short term, we have to be a little aware that if Bitcoin somehow breaks the support of $100,000, which it has already done, then Bitcoin can reach $97-95,000.
In this situation, many people are thinking of buying deeply, so of course they will buy first because if you want to catch the bottom, it is not possible. So now you have to work in such a way that you get profit from both sides, suppose if you buy first and the market reaches 95 thousand, then you have to buy second and if the market goes down further, for example, it comes down to 88 thousand dollars, then you have to buy third and in this way you have to use the DCA method. Currently, there is a high possibility of Bitcoin coming down, if Bitcoin closes below 100 thousand dollars again, it means that Bitcoin can go down a little more. And if somehow it closes upwards in the short term, it means that Bitcoin will go above 108 thousand dollars, which is why we will never buy out of fear. Even if the market starts pumping from here, we will not buy out of fear, because there is no shortage of opportunities in the market. Now what you have to do is to always be active with the market because today's analysis can become meaningless tomorrow if there is any good news in the market. Because if a good amount of volume enters the market, if the ongoing war between Iran and Israel is somehow postponed or if better news comes, then the analysis we did today will no longer work. Since fundamental news is not having any impact in the crypto market, suddenly there is manipulation in the market, so it is very important to get every news on time. I am telling you every thing once again, if there is no bad news in the market, then the market can go up from here and Bitcoin closes at $108,000, then we have survived this journey. And if somehow there is no good or bad news in the market and the market continues to move sideways, then we can see Bitcoin below $100,000. And if the $100,000 support breaks again and starts to move downwards, then we can see Bitcoin up to $88,000 and if we mix every equation together, then we have to assume that the market will dump. Therefore, we have to prepare ourselves to deal with all this, always remember one thing that there is always volatility in the crypto market, so before taking any decision here, do your own analysis and invest according to your own risk. Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.
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