Bitcoin and Ethereum are showing highly synchronized moves on the hourly timeframe. After an initial decline, the bottom gradually moved higher, followed by consecutive bullish candles pushing prices up and directly breaking above the previous consolidation range. The price has risen above all short-term moving averages, with trading volume expanding in tandem, indicating an upward offensive move driven by incoming capital. Bitcoin is testing the 79440 high, while Ethereum has simultaneously reached around 2520, forming a clear upward structure on the hourly timeframe.
The bulls currently have the upper hand, with ample upward momentum, but the short-term gains have already expanded significantly. The market may develop in two ways:
1.Strong continuation: Hold the current range, consolidate slightly, and then continue expanding upward, with a shallow pullback replaced by sideways movement.
2.Surge and correction: After touching the upper resistance zone, profit-taking emerges, leading to a pullback and retest. The market then chooses a direction after confirming support. There is currently no clear bearish reversal signal, so do not subjectively anticipate a direct sharp reversal. Prioritize viewing this as a high-level battle following a strong rally. Bitcoin key levels—resistance: 79440‑79800; support: 78400, 78000. Ethereum key levels—resistance: 2520‑2550; support: 2470, 2450.
Monday evening outlook
For long positions, wait for the price to pull back to the support zone: Bitcoin stabilizing at 78000‑78400 and Ethereum stabilizing at 2450‑2470, with the candlestick forming a bottoming pattern before considering short-term participation. If prices continue rising without a pullback, give up chasing longs.
For short positions, only engage in tactical short-term trades, not trend shorts. When Bitcoin reaches the 79440‑79800 resistance zone and shows long upper wicks or repeated failures to break higher, use a small position to test a short for a pullback. Once the price effectively makes a new high, immediately abandon the short-selling idea and do not stubbornly short against the trend.