Bitcoin breaks through again, the market is booming

Yesterday morning, Bitcoin broke its historical high, and the long-term outlook still looks bullish. The current market sentiment is very positive, and we can see that the overall structure still appears to be bullish. By the end of the year, it is expected to break through again, with long-term targets of 120,000-130,000 for Ethereum, which will also see a rebound, with long-term targets of 4,800-5,000. Altcoins are currently not in a good situation; aside from the mainstream coins that are rising, we can see that other smaller coins are not making significant moves, and are instead declining. Currently, it is not advisable to enter altcoins; patience is required for now.

Looking at the market, the 4-hour structure for Bitcoin shows a general upward trend, while on smaller time frames, we can see a minor pullback. The Bollinger Bands are opening upwards, indicating continuation, but the room for this movement is not very large. It is advisable to wait for a pullback before entering. The bottom support for Bitcoin is around 105,000; if it breaks this level, it could extend downward. At present, there is no upper limit in this market; while there is pressure, breaking through is not very difficult if we follow the trend.

Regarding Ethereum, the overall trend is synchronized with Bitcoin, having also broken the previous high yesterday, reaching 4,100. From a structural perspective, it is also trending upwards overall. There is a possibility of a pullback on smaller time frames, but we can see that the overall trend remains bullish, so patience is key.

Operational advice:

For Bitcoin, you can first look for a pullback, observing the bottom support near 105,000

Then enter Ethereum

Ethereum has support at 3,920, synchronized with Bitcoin for entry.