Market Outlook
Expectation of Continued Rise After Pullback
Bitcoin pulled back after touching 76, retracing approximately 4% to the 71,000 range today.
Many people are asking if the rally is over/has peaked/is about to fall.
These questions are understandable, as many have been misled by the market many times, experiencing rollercoaster rides and significant profit retracements.
However, this time is different. I believe the rally is not over yet.
From a timing perspective, I lean towards a peak at the end of March, mirroring the March 2022 scenario, so there should still be some time before the peak.
From a price perspective, a pullback after breaking 74 is normal.
The CB premium is also continuing.
Therefore, I believe there will be another rise after this pullback.
From a long position perspective, one could consider going long above the Monday low and targeting the Monday high (going long to 75,000 after stabilizing above 72,200).
I currently hold SOL and XRP spot, so I will continue to hold without making any further moves until I believe the peak has been reached before exiting.
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