Thursday’s entire-day outlook played out perfectly. In the morning, Bitcoin and Ethereum offered opportunities to go long on pullbacks. Bitcoin violently surged after pulling back to support, reaching a new high of 72,487 at the peak. After the surge, it retraced. A long position was opened on Ethereum at 2,233–2,235, and it smoothly reached the 2,300 target in the evening, securing 65 and 67 points of profit. The Academy also took profits simultaneously. The market completely followed the anticipated rhythm. After the sharp surge, bullish momentum weakened, and a pullback from the highs followed. This is normal consolidation after a major rise. The broader trend remains bullish, but blindly chasing highs is no longer suitable for the short term.
After surging to 72,487, Bitcoin came under pressure and pulled back. On the 15-minute chart, the MACD red bars shortened, while trading volume declined noticeably compared with the explosive rally phase. Resistance above is at 72,200–72,500, with first support at 71,000 and strong support at 70,500–70,700. As long as the 70,500–70,700 range holds, the bullish structure remains unchanged and another surge is possible. Once it breaks below this range effectively, the correction will deepen further. Ethereum faced resistance and pulled back after surging to the previous high of 2,336, and one round of long-position profit-taking and exit has been completed. Resistance above is at 2,320–2,336, with first support at 2,280 and strong support at 2,240–2,260. If support holds, the market still has an opportunity for a second surge; if support breaks, room for a pullback will open up. The broader trend remains strongly bullish, while the short term has entered a pullback and consolidation phase after the sharp rise. Do not chase at high levels; wait for a pullback to key support before entering.
Thursday evening outlook
Bitcoin: Go long around 71,500–71,200, target 73,000
Ethereum: Go long around 2,260–2,230, target 2,400