Bitcoin may break 100,000 USD before the 25th?!

Let me show you something very subtle, Figure 1, Bitcoin has been in a decline without a significant rebound. However, after holding at 89,000 USD yesterday, if it can continuously hold above 92,000 USD today and close the weekly above 92,000 USD, then the annual opening price of 94,000 USD is likely to break through. It has already oscillated through the downtrend line, so the rebound from this decline, a 0.382, is 97,800 USD. The key support and resistance positions are swapped, and another 0.618 is 108,000 USD. The corresponding dates are November 16th and November 11th.

Figure 2, while the market share of USDT is exactly the opposite, it is currently a bull flag. In the medium term, it is highly likely that USDT will rise further while Bitcoin will plummet. However, in the short term of 4 hours, there is an ascending trend line being tested, and structurally, the highs and lows are both descending. Once it breaks below the current small ascending trend line, the market share will retest lower support. This point in time highly coincides with the historical areas of Bitcoin at 98,000 and 108,700 USD. The two key support levels below have been repeatedly tested. Of course, the market moves step by step, and currently, there really isn't an immediate reason to short.

So the next key test is the annual opening price of 94,000 USD. If there is a volume breakout, I will completely abandon the short-term short idea; but if it encounters resistance again, the Christmas rally may end early, as the active buying has been in a sluggish state.