In the evening, Bitcoin's bullish momentum remains strong, with a slight pullback below support levels followed by an even more vigorous rally. Currently, it has once again broken through the previous high and reached the 81,656 level. As the upper resistance continues to be broken, short-term upward momentum is becoming increasingly sufficient. Ethereum's trend is quite similar to Bitcoin's, almost mirroring sideways movement with subsequent upward surges. It has already touched the 2,400 level. Although it hasn't broken through higher in the short term, multiple upward attempts have eliminated resistance above. Although the current market isn't as strong as the previous bull market, the oscillating upward rhythm has provided us with multiple buying opportunities. The multiple long entries suggested during the day were perfectly profitable. Bitcoin gained 1,100 points tonight, while Ethereum gained nearly 30 points.



Currently, the technical structure hasn't changed significantly. The daily chart, after some adjustment, has started to turn positive again, and the consolidation and correction phase is basically in the past. This consecutive upward movement has laid the foundation for a bullish rally, and this pattern is likely to test the top. Pay attention to one pattern here: distinguish between correction and trend reversal. In a strong market, if it undergoes a pullback correction, the price will fall and then rebound, continuing the upward trend. But if it reverses trend, it won't rebound after falling; it will continue downward without looking back. In the short term, after confirming support on a pullback, a strong rebound is expected, and the support lows are continuously rising, forming a clear correction platform. As the retracement lows are raised, it’s best to keep bullish positions for further upward movement. Tonight’s minor pullback saw a low of around 80,500; staying above this level and continuing to hold long positions is advisable.

Bitcoin: 81,000-80,800, long, target focus on 83,000
Ethereum: 2,365-2,345, long, target focus on 2,500
BTC0.96%
ETH-0.52%
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