A week passed in the blink of an eye. Looking back, this week’s trend was largely in line with expectations. The swing position opened from Monday was mainly based on the recent return of capital and the market’s strength. We reminded everyone to enter above 76000, which was basically this week’s lowest point. After climbing to a high of 81500 on Friday, the market retraced. Although this swing position was not closed at the absolute top, it still captured a very good move. After testing the 80000 level once on Thursday afternoon, we exited and secured around 30K in profits. This is the significance of following the trend: if you only watch the market rise and fall, you are merely watching the market, but to perform well, you must understand the direction of the trend!
As previously made clear, confirmation is needed before the arrival of a bull market can be established on the weekly timeframe. Consecutive bullish weekly closes have already begun to emerge, and this week’s candle is about to close. Given the current market structure, a bullish close can basically be confirmed. However, the subsequent trend still needs to be confirmed multiple times. The strength on the daily timeframe needs no further explanation. Although there have been multiple pullbacks during the rise, judging from the overall structure, a major pullback is still unlikely. The market is expected to reach Monday in a consolidation pattern, with room for further upside, but momentum is somewhat lacking in terms of news and capital inflows. The back-and-forth movement on smaller timeframes also indicates this. Consolidation will not continue forever, and two days of accumulation over the weekend should be enough to fuel the next move. Short-term patterns can change in an instant, and the range-bound structure could be broken at any time!
The subsequent strategy is mainly to buy on dips. First, focus on the 77000 support below. As the low of the short-term consolidation, a break below this level would not necessarily mean an immediate trend reversal, but the short-term market structure would inevitably be broken, and an accelerated decline would not be impossible. On the upside, focus on a new high. Every market move is breaking through resistance at the highs; only by breaking through new highs step by step can we fully enter a bull-market cycle. The strategy for subsequent swings is therefore very clear: focus on the 77000 support below and target the upside. A pullback to this level is not necessary; anywhere in the lower 77000-78000 range will do. Then target the arrival of a new high!
btc: Swing strategy: go long at 77000-78000, targeting a new high
eth: Swing strategy: go long at 2400-2430, targeting a new high#Gate7天净流入全球Top3 $BTC $ETH