7.5 Bitcoin Market Analysis: Bitcoin is currently in the wave B oscillating upward phase, with the target above around 69.7k. It has now risen to over 63,000.


From a structural perspective, 64k is a relatively important resistance level. A pullback is expected within this range.
Normally, a pullback is necessary; it's just a matter of location. For now, we must wait patiently. A pullback to around 60k would be a good entry opportunity.
Ethereum, in sync with Bitcoin, is also in the wave B rebound phase with strong upward momentum. It also requires waiting for a pullback structure to appear.
A pullback is expected within the next day or two. If a pullback occurs, we can consider going long again. Currently, no pullback signal has appeared, so we must wait patiently. The overall structure is a rhythm of waiting for a pullback to go long.
Regarding other coins, NEAR shows a complete uptrend structure on lower timeframes and is currently in a pullback phase. If it drops again to support levels, it would be an opportunity to enter in batches.
XLM was shaken out of a long position earlier; the fifth wave may have ended. Waiting for a retracement pullback is the opportunity to enter again.
The overall strategy is to wait for pullbacks; chasing highs is not recommended.
Risk Disclaimer: The above analysis is based on Elliott Wave theory. Markets are uncertain, and the extent and timing of pullbacks are difficult to predict accurately. Please manage your positions according to your own risk tolerance and set strict stop-losses.
BTC0.31%
ETH0.53%
XLM-2.66%
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MevStreetPhotographer
· 18m ago
The structure of NEAR looks okay, but I'm not sure how deep this pullback will go. Entering in batches is safer.
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QuantitativeButNotPretentious
· 30m ago
Overall, just wait. If you jump in now and there's a 10% pullback, your mentality could easily collapse. We'll see around 60k.
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