1.5
The weekend's news mainly revolves around Venezuela. The market's best response was seen in US stock futures and the US spot market opening. This morning, when futures opened, it was primarily Asian investors' views on the US and Venezuela events. By evening, it shifted to European and American investors' expectations.
Based on current information, the outlook remains quite optimistic. If Venezuela's oil, gold, and rare earths are developed smoothly, they will be mined together with the US, which will help the US economy and alleviate US inflation.
In recent years, the biggest concern for US tech giants has been the rare earth supply chain being chokepointed by Asia. If Venezuela's rare earth resources are jointly developed and mined by the US, it will directly reduce the supply chain risk premium for US high-tech manufacturing, and the market will be willing to give Nasdaq a higher P/E ratio.
BTC
Today, we mentioned a breakout on the big chart to break the downtrend, and it has indeed rebounded as expected. However, from the current weekly chart perspective, this does not confirm that this wave is a reversal. Next, we need to watch whether the daily chart can continue to hold this position and whether it can stay above the 93500 level. If it can hold, it will move around 100,000. Currently, from various cycle perspectives, the trend is still relatively good. However, this week, a high open does not rule out the risk of a small downward retracement, but the retracement will not be large. The retracement zone is around 90,000 to 90500, with support at 90500-89500 and resistance at 93550-96500.
ETH
Remember when Ethereum kept telling everyone to enter closer to 2800? Currently, Ethereum is moving similarly to Bitcoin. On the daily chart, we also need to watch whether the bulls can continue. From the current perspective, Ethereum's bulls are not as strong as Bitcoin's, somewhat like being pulled up by Bitcoin. So, we need to pay attention to whether the hourly chart will gradually break new highs and eliminate small-level divergence. If not, we should watch for small retracements. In summary, as long as it does not break 3080, it will still rebound upward, with support at 3088-3040 and resistance at 3200-3330.