$BTC Seven days up by a quarter, directly surging back above $80,000—this is the first time since May. If you hold crypto, has this floating profit been a little unexpected?
According to CoinDesk, Bitcoin broke through $80,000, with a gain of about 25% over the past seven days. The numbers are certainly exciting, but the faster the rally accelerates, the more you need to watch for overheated sentiment. The quicker it rises in the short term, the larger the pullback elasticity tends to be. And right now, there isn’t clear positive news support—price action driven by funds often comes and goes quickly.
Next, the key will be whether $80,000 can hold. Holding it could open up new room for upside; a fast drop would mean you should be careful about the risk of chasing gains. Would you add to your position now, or wait and watch?
Source: CoinDesk
According to CoinDesk, Bitcoin broke through $80,000, with a gain of about 25% over the past seven days. The numbers are certainly exciting, but the faster the rally accelerates, the more you need to watch for overheated sentiment. The quicker it rises in the short term, the larger the pullback elasticity tends to be. And right now, there isn’t clear positive news support—price action driven by funds often comes and goes quickly.
Next, the key will be whether $80,000 can hold. Holding it could open up new room for upside; a fast drop would mean you should be careful about the risk of chasing gains. Would you add to your position now, or wait and watch?
Source: CoinDesk