After several days, BTC is once again nearing the $80,000 threshold; it is currently quoted at $79,198, down 0.2% in the past 24 hours. Optimistic sentiment from the bulls is starting to return, but in the original text, a group of analysts still insist on being bearish down to $40,000. This target price implies roughly 49% downside from current levels, representing an extremely bearish scenario that deviates significantly from the current market structure.
From a strategy perspective in the original text: the $40,000 target level that the bears are anchoring to no longer has short-term reference value given the current price. If the price structure is adjusted based on the current levels, the short-term long/short watershed should be moved up to around the $75,000 area; only if it breaks below that level would the depth of a pullback need to be reassessed. NEAR is currently quoted at $1.92, down 4% over the past 24 hours. The altcoin performance is weaker than BTC, and the pattern of capital concentrating on the main chain remains unchanged.
Research report note: widening disagreement between bulls and bears often corresponds to an increase in volatility; the contest around $80,000 may determine the direction of the next leg. While the bears’ view is extreme, it is still part of how the market is pricing things. #BTC
From a strategy perspective in the original text: the $40,000 target level that the bears are anchoring to no longer has short-term reference value given the current price. If the price structure is adjusted based on the current levels, the short-term long/short watershed should be moved up to around the $75,000 area; only if it breaks below that level would the depth of a pullback need to be reassessed. NEAR is currently quoted at $1.92, down 4% over the past 24 hours. The altcoin performance is weaker than BTC, and the pattern of capital concentrating on the main chain remains unchanged.
Research report note: widening disagreement between bulls and bears often corresponds to an increase in volatility; the contest around $80,000 may determine the direction of the next leg. While the bears’ view is extreme, it is still part of how the market is pricing things. #BTC