Hanmu Xia's prediction is here again. $BTC peaked early this morning, but the momentum was insufficient. He believes that the rise since $80,500 is a guiding wedge (in technical analysis, it usually indicates a significant rise to come).

$89,000 - $90,000 is a relatively strong support position. This is slightly higher than the $87,000 - $88,500 range we were previously monitoring, indicating that the defense line is being raised, which is a positive signal! The market has set a target range for the next month's rise between $103,500 and $112,500! However, he also emphasized that the process of rising could still be very tortuous.

From my personal perspective, under the backdrop of confirmed interest rate cuts by the Federal Reserve and a shift in liquidity, this prediction above $100,000 gives the market a shot of confidence. This also means that the $96,000 we were previously monitoring is just a short-term small target. The support level has been raised from $87,000 to $89,000 - $90,000, indicating that both the cost and confidence of the bulls are increasing, which is a good thing. However, $BTC aiming for $112,500 will inevitably go through multiple rounds of liquidation.