Overnight U.S. stock markets closed mixed, with the Dow down 0.22%, the S&P 500 up 0.82%, and the Nasdaq up 1.77%, breaking the 20,000-point mark for the first time, setting a new historical high. Star tech stocks continued to rise, with Tesla, Google, Amazon, Meta, and Netflix all hitting new historical highs. Among them, Tesla and Google rose over 5%, while Amazon, Meta, and Netflix rose over 2%. The inflation data released last night for November was almost entirely in line with market expectations, leading traders to increase bets on a rate cut by the Federal Reserve in December. The crypto market also rebounded across the board, with Bitcoin returning to $100,000, Ethereum breaking through $3,800, and cryptocurrency concept stocks soaring collectively. Those holding spot positions feel at ease, while those cutting losses are frustrated, and funds that faced liquidation in contracts have vanished. This is the reality of the crypto market; in fact, every fluctuation and significant correction in a bull market is just a reshuffling among sectors. In the crypto market, choice is greater than effort, and opportunities are reserved for those who are prepared. As the Spring Festival approaches, I hope you don't engage in reckless operations in the crypto market.
Bitcoin rose from a morning low of around 95,630, continuing to climb through midnight, peaking at 101,905 before facing slight pressure and a pullback. Currently, the entire trend of Bitcoin has entered a consolidation phase again; grasping short-term trades is still a good strategy. In the hourly structure, after a self-injection rebound, the lows are continuously rising. The four-hour single bullish trend can't be stopped; once it breaks upwards, it signals increased volume, and the madness of the bulls is also expected, being an inevitable rise influenced by the trend structure. We also mentioned earlier that the current market pullback is bullish; if there’s no pullback, then the short-term trend continues to look upward. The intra-day movement is clear; the main trend remains bullish, and following the bullish trend is the current main theme. In the short term, the price may experience a certain degree of correction, but a correction is not a reversal. After the correction, it will still look back at the bulls. Moreover, correction serves to facilitate better upward movement, accumulating energy for the bulls to launch a new attack.
After Ethereum dipped to 3,512, it rebounded synchronously, reaching a high of 3,845 in the early hours. On the four-hour level, the price has temporarily entered a strong bullish phase, successfully reclaiming the middle track. The previously emphasized stance of maintaining a bearish position if the middle track was not reclaimed is no longer applicable. Although it still faces resistance at the upper track, the stability of the middle track has shown its strong momentum, with various indicator lines rising. The bullish energy bars are accelerating their release. On the hourly level, the price is currently near the upper track, but the support points below are continuously rising, and the Bollinger Bands are opening upwards, indicating an overall upward trend. Although the current price has seen a slight pullback, the magnitude is weak. The rapid recovery of the bulls is a proof of a strong trend, and each slight pullback is a good opportunity to position long trades.