Early trading shows a short-term bottoming signal after a pullback following the upward probe and correction. As the price further explores higher valuations and recovers, the market has broken through the previous three peaks' high-pressure zone around 79,500, with the current high extending to around 80,500 under resistance. Overall, this has reached our first target position for the wave cycle layout. Whether the bullish momentum can continue to push toward 83,000 depends on short-term pattern signals. Regarding Ethereum, after a dip near 2,300 in the early session, it rebounded and recovered, currently rising to around 2,390 before facing resistance and pulling back. There has been no breakout to new highs, so the focus should be on whether there are signs of a rally continuation. The early session's layout for Bitcoin also followed the trend, with long positions capturing 1,700 points, while Ethereum gained over 50 points.



Looking at the current chart, the four-hour timeframe shows strong momentum. After a dip to the mid-line support, a volume-driven rebound occurred, with a large bullish candle opening the previously flat mid-line and the upward channel. After breaking through the upper band, there is no sign of significant bearish correction, indicating a strong bullish correction pattern at this high level. The overall trend remains bullish. Although there are overbought signals on indicators, the overall strength continues in a phase of temporary breakout. The next focus is whether the market can hold above 79,500-80,000 and volume can increase to test 83,000.

As the price further breaks through key levels, the bullish momentum should persist. The current key resistance zone has moved up to around 79,000-79,500. No significant breakdown on pullbacks suggests continued upward momentum, with potential to test near 83,000. Short-term resistance is at 80,500-81,000, which shows some resistance; failure to break through indicates a possible consolidation. The main trading strategy remains to buy on dips. For Ethereum, watch for a breakout above 2,400; otherwise, resistance remains, with support at 2,250-2,270 as the current support zone.
BTC1.89%
ETH2.55%
View Original
post-image
post-image
post-image
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
Add a comment
Add a comment
No comments
  • Pin