In the past two days, Bitcoin has continuously broken new highs, and Ethereum has also continuously broken through. The overall market has been moving steadily upward. Ethereum and Ripple have been relatively strong, while other mainstream and large altcoins have generally been drained. Only when Bitcoin stabilizes and moves sideways will funds flow to other mainstream and large altcoins. However, Bitcoin did not increase in volume during the process of rising. Judging from the current trend, it is still possible to continue to rise, and it is not ruled out that it will reach the 110,000 level in the short term.
Today a friend asked me where the top is. In fact, this is not important. What is important is whether the risk is greater or the opportunity is greater at a certain position. Just control the corresponding position well. Many experts still cannot escape the top. I will briefly talk about my position control ideas later. My personal review does not constitute any investment advice.
Bitcoin is expected to consolidate around 105000, with a steady trend of continuously breaking new highs, but unfortunately, there is no volume. If there isn’t significant volume to drive it up, it will just be pulled up by sucking blood, so one should be wary of a pullback. A slight rise and sideways movement are quite similar, as both are testing the market. In a bull market, one shouldn't call a top, and one shouldn't short in a bearish sentiment. At this time, the upper points are large integer levels that will be tested and broken one by one. Each breakthrough will lead to a pullback to solidify, so there's no need to rush to add positions during the pullback; don’t chase the rise, as there will always be someone standing guard at the mountain peak. It is expected to fluctuate in the 700 to 740 range. I'm so touched that two loyalty Holder rewards were issued consecutively, the fourth and fifth phases. It is expected to consolidate around 4000 and gradually rise. If you continue to dollar-cost average, you will definitely profit. Institutions are constantly increasing their holdings in the short term, and there is a target of 4800 above. As the saying goes, with clear goals and institutions' actions looking optimistic, it’s still worth looking forward to. If you feel that chasing Bitcoin is too high, you might consider this asset.
Some important consultations:
1. The elected President of the United States plans to establish a Strategic Bitcoin Reserve (SBR) through an executive order, using the Treasury's Exchange Stabilization Fund (ESF) to purchase Bitcoin. MicroStrategy co-founder Michael Saylor stated that he believes the President is serious about establishing a national Bitcoin reserve.
2. The elected President of the United States attended the Blockchain Association's annual gala and delivered a speech. He promised to ensure that Bitcoin and cryptocurrencies thrive in the US and made it a legislative priority.
3. The assets under management of the US Bitcoin ETF have reached 129.3 billion dollars, surpassing the 128.9 billion dollars of the gold ETF. Although gold had a 20-year first-mover advantage, it has now been overtaken.
Talking about today's daily market analysis: From the K-line perspective, the 1-hour level is down, the 4-hour level is down, the 12-hour level is turning down, and the daily level is still in an upward trend. The intraday resistance is at 108500, and the support is at 102500 dollars.
