24/11/24 BTC is near 100,000 with a pullback risk. Whether Ethereum's surge is a false breakout, and whether the altcoin surge opportunities can continue.
Bitcoin's new high of 99588 is just a few hundred points away from 100,000 before it pulled back. It is also at the upper edge of the 4-hour ascending channel without a breakthrough. We previously mentioned that once it breaks through 100,000, the next target would be around 107000. However, with just a few hundred points away, there has been no breakthrough, and the 4-hour upward trend shows signs of breaking down into volatility or even a pullback, which needs attention.
Ethereum's surge broke through 3444, reaching a maximum of 3497. The altcoin surge has been substantial, with established altcoins increasing by ten to twenty points. There are live broadcasts on the 15th and 21st reminding about altcoins during Ethereum's breakout, including L2, and the staking and SOL ecosystem altcoins have also shown good increases.
Bitcoin
Yesterday's high reached 99588 before a slight pullback, forming a small doji star. Since the 12th, the whole segment from 85000 has been in an ascending channel, and the market has touched the upper edge of the channel and pulled back. As of the time of writing, the 4-hour ascending channel has been broken.
Yesterday's video also reminded that Bitcoin had previously been draining altcoins on its own. Now, all funds are flowing towards altcoins. If Bitcoin can maintain high-level fluctuations, the altcoins will continue to surge. However, if there is a significant market pullback, it will also bring down Ethereum and the altcoins led by it.
Short-term support at 95600 and 97122. If broken, it will accelerate the drop.
Support:
Resistance:
Ethereum
The recent drop below 3444 shows signs of a false breakout, but it currently depends on whether Bitcoin can maintain high-level fluctuations. If there is a significant pullback, Ethereum may also experience a false breakout. The altcoin situation also needs to pay attention to Bitcoin's pullback. I personally suggest looking for some altcoins that haven't surged or are at lower levels, and be prepared to set stop losses.
**** These three altcoin varieties have either broken through on the daily chart or are at daily bottoms. Based on your own tolerance for losses in the spot market, set stop losses at 3, 5, or 7-8 points. However, stop losses must be set to prevent a significant drop in Bitcoin from collapsing the market. It's important to note that Bitcoin has surged so much that once it experiences a significant pullback, the extent of the altcoins' corrections can be imagined.
The ETH/BTC exchange rate has rebounded back to the previous bottom of 0.034. If it can maintain above this level, the altcoin surge should be quite good and worth looking forward to!
Support:
Resistance: $BTC $SOL $ETH #谁将成美SEC新主席？ #BTC创历史最大月度涨幅 #ETH市场新动向
