12.02 Bitcoin continues to rise, Ethereum weakens and looks to Bitcoin first

This round of Bitcoin and Ethereum's gains is about to enter a charging stage. There isn’t much capital entering the market, so this blood will be absorbed quickly. Musk requests the US court to prevent OpenAI from transitioning to a for-profit enterprise. The AI sector has a promising future, and this round will still benefit sectors related to Musk. However, the upcoming WLD may not perform well, and it may replicate Ripple's performance from 2021. Everything is uncertain.

The negative news from the VC market may need to be digested. The market conditions are quite good, and while the MEME sector is strong, the next round of the VC sector will also rise. As the market shifts from zero-sum games to more capital entering, the crypto market will once again go truly crazy.

BTC Daily - 4 Hour Level Market Analysis

The major breakthrough and inability to break through Bitcoin are no longer very important. Completing the logic of this round of gains requires a correction, as the funds are not very abundant now. The subsequent Bitcoin will absorb blood and rise again, which is highly probable. It is advised to exit on the right side.

Bitcoin has already begun to absorb blood, and some strong altcoins will also start to absorb blood. The funds in the market have become limited and scarce. The market won’t be particularly good or particularly bad; this kind of market can be somewhat torturous.

The major Bitcoin has reached a critical pressure position. Around 98500 is today's resistance level. If it breaks the previous high, it will also break through. Support is around 96000, and it is not suitable to chase long positions.

BTC + ETH Short Bull Level Analysis

- Bitcoin is in an upward logic intraday. Yesterday's intraday order has already hit the first resistance around 97800. For now, there is an expectation of a small level pullback, with a target of around 96800 for long entries. The upper resistance is around 98500. The probability of Bitcoin hitting a high this week has increased, and funds continue to enter Bitcoin. Just wait for the ETF to pull the market in the evening.

- Ethereum's position has a chance to continue charging, with targets around 3800 and 3850, and bottom support around 3700. If there is a pullback during the day, look for opportunities to stop loss and aim for Ethereum's target.

This kind of market will see bears emerge again because they are firmly bearish. I am also bearish now. I am indicating risk; when the risk outweighs the opportunity, one can push losses and take profits, allowing profits to continue to fly and waiting for the market to change.