Celery: Short-term Bitcoin forecast

This week, cryptocurrency market sentiment cooled somewhat, primarily due to increased uncertainty surrounding the inauguration of Kevin Warsh as the new Federal Reserve Chairman on Friday. Institutional funds were more inclined to adopt a wait-and-see approach, leading to insufficient market liquidity. 1️⃣ From a medium-term perspective, Bitcoin's bearish trend remains intact. Although prices have rebounded somewhat over the past three months, the monthly chart shows a "three-day winning streak followed by a decline" pattern, with the price pressured by the 30-day moving average (MA30). Therefore, a blindly optimistic outlook for the medium term is unwise. 2️⃣ In the short term, the daily Bollinger Bands are flat, allowing for a strategy of buying low and selling high. The current price has reached the lower Bollinger Band support, making shorting unwise and not cost-effective. A move towards 76500 is recommended, targeting the short-term resistance at 78500. It is crucial that 75000 is not breached; a break below 75000 would likely lead to a move towards 72000. This week features two major news items: Kevin Warsh's appointment and Nvidia's earnings report. The key trading focus is on two levels: 78,500 and 75,000. A break above the 78,500 resistance level would likely see the price return above 80,000. Conversely, a break below 75,000 would target the 72,000 level. [Personal opinion, for reference only, not investment advice!]