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This week's market overall remains consistent with our weekend outlook from last week. Bitcoin broke out with increased volume and continued upward movement over the weekend. Early in the week, Bitcoin hit new highs with each step, showing little sign of pullback in the short-term structure. As the rally extended further, it peaked near 83,000 before facing resistance and pulling back. The market then entered a phase of bottoming out and retracement, with a low test around 79,000 supporting a rebound. Currently, it has recovered back to around 81,000 and is consolidating, forming a strong bullish structure. Compared to Bitcoin, Ethereum was relatively weaker this week. While Bitcoin surged, Ethereum showed little movement, with a high recovery to 2,420 facing resistance and a dip to around 2,250 supporting a rebound. It has now recovered to near the opening price at the start of the week. This week, we maintained a fully bullish stance, capturing the entire move. Bitcoin gained a total of 11,250 points in space, while Ethereum secured 440 points.
After four consecutive weekly bullish candles turning into a doji star correction, this week still closed with a bullish candle, pushing higher and stabilizing above the midline. However, it has not yet recovered above the 120-day moving average, facing some resistance. After the doji star correction, volume continued to increase, and next week may see further continuation. As the moving average structure becomes more consolidated, focus remains on the 83,500 resistance level for potential pullbacks. On the daily chart, resistance remains, and whether the recent three bullish candles can continue depends on whether the recovery can extend further. The indicators show that the moving averages are gradually shifting to a bullish alignment, but the daily indicator pattern remains high and congested. In the near term, watch whether bullish volume diminishes or consolidates. For now, the strong recovery suggests continuation, but after observing resistance levels, consider short positions.
Currently, Bitcoin's key short-term resistance is around 81,600. A break below this level would suggest further downside, with attention to the 83,500 resistance for potential wave short positions. Short-term, consider long positions between 80,300 and 80,800. Ethereum has recently recovered to around 2,340, facing resistance but showing a bullish structure. Although it has pulled back slightly, it remains above the lower Bollinger Band channel, indicating some continuation potential in the short term. Watch for further breakthroughs at 2,350-2,380, and if it surpasses 2,400, look for continuation toward 2,450.