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Bitcoin continues the weekend's oscillating upward trend today, surging higher all the way up. Bitcoin rose from the low of around 80,225 to a high of approximately 82,400, providing a gain of over 2,000 points. It experienced a wave of rapid rise followed by a pullback, with the pullback occurring after the surge. Ethereum also followed a similar pattern, pulling back from a short-term high of 2,369 to 2,310, then rising again to a high of 2,381, with this upward push being quite swift and forceful. The weekend's gains already hinted at this rise, and Lao Chen shared his real-time analysis early this morning. There is no shortage of strength in the market. Over the weekend, the bulls reached the current levels, with the lowest gains of 2,000 points for Bitcoin and at least 80 points for Ethereum.
From a technical perspective, although Bitcoin has shown strong movement and the overall downside space has indeed been broken, Ethereum's volatility has been relatively smaller. It hasn't experienced a significant breakout upward and has been weaker overall. We should be cautious of Bitcoin's rally potentially dragging Ethereum into a secondary rise. The daily chart is also in a consolidation phase before a breakout, with the oscillation cycle and correction structure nearly complete. The bullish outlook remains the main strategy moving forward. In the short term, after a dip and rebound, prices have been oscillating at high levels. Everything is in place, just waiting for a catalyst. Early next week, focus on buying on dips after a breakout, and monitor for continuation before making further arrangements.
On Monday morning, consider buying Bitcoin near 81,800-82,000, with targets around 83,500. For Ethereum, look for long positions near 2,350-2,330, with a target around 2,480.