The most noteworthy event over the weekend was the sudden change in the Venezuela situation. Although the event had a significant impact, due to the rapid development and the fact that it occurred during the weekend when the US stock market was closed, the direct impact on Bitcoin was relatively limited—yet, Bitcoin's price even touched $93,000 at one point this morning.



The market's sentiment moving forward is particularly crucial, especially the performance after the US's first trading day of the year on Monday. The overall risk sentiment and even the political implications for the US elections from this event are still uncertain and require further observation.

Regardless, our focus remains on Bitcoin's own price movement. It is essential to emphasize one principle: the market is always right. Even if we personally interpret an event as bearish, if the market views it as bullish and pushes the price higher, we should follow the market direction rather than operate against the trend.

Overall, I personally remain optimistic about Bitcoin's trajectory, but it is still early, and combined with the weekend geopolitical disturbances, the final direction will depend on the market's sentiment stability after the US stock market opens today.

Finally, a key level to watch again: on the daily chart, $94,500 remains an important resistance level since late November. Once the US stock market opens and market sentiment stabilizes, the trend path is expected to become clearer.
BTC-1,22%
ETH-2,43%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)