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Bitcoin Ethereum Next Week Trend New Analysis Outline

Bull markets always start in doubt and end in cheers. What I mean by this is not to suggest that this bull market is over, but that the bull is about to turn back. That's right, a pullback is coming. I was initially reluctant to come out and say this, but several friends have asked me how I see the market moving forward. So, I’ll share my views and thoughts. If there are different opinions, we can discuss!

At the beginning of this year, the approval of the Bitcoin spot ETF in March officially kicked off the bull market, followed by the halving event in the four-year cycle, and the favorable factors of interest rate cuts in September and October and the Aite election pushed prices to a explosive rise to $108,000, almost doubling in a year, roughly increasing by 4-5 times. However, after a year of increase, isn’t it quite normal for the bull to turn back and drop for a month? What do you think?

In our previous articles, we mentioned that the situation for the monthly and weekly charts is not very optimistic, showing signs of a potential peak. After the strong bearish candle retreated, there has been a strong continuation. Looking only at the weekly K, this week's doji closed lower, and the energy bars are gradually decreasing in volume. The moving average indicators have formed a death cross and are diverging downwards. Overall, the strong support below is around 82,800; for now, whether it can drop to this level is not the main concern.

From this week’s overall trend, we are currently in a weak box-shaped fluctuation structure. The high point of the larger cycle is at the 100,000 mark, which happens to be the pressure point of the middle track of the daily line. The bulls have been unable to recover for a long time, making it hard to become strong. The support below is around 92,000, which is also a previous low. We are not afraid of sudden crashes, but rather of continual declines. The spread of panic sentiment can affect everyone's trading desire, and of course, this process will be very long and winding.

Swing trading strategy: "Consider buying around 96,200, with an initial position, and reserve some for the area around 97,500. Set the stop loss at 98,300, and the target first looks at the 92,500 area."

Short-term short position: "Refer to the overnight rebound high point for entry, aim to short in the evening in the 95,200-95,700 range, with a target of 94,000. Move the stop loss by 800 points."

This is for reference only. There are no absolute rises or falls in the market; everything is based on actual trading guidance. Don’t be surprised if a sudden rise of two or three thousand points occurs and then come asking if you have been liquidated. If you trade contracts without a stop loss, what’s the point? You see it continuously rising, but it’s not possible to short immediately; you will definitely wait until it reaches the expected level before entering. So, let’s not argue!