Today's Market Highlights: BTC (Bitcoin)
The current BTC market situation is no longer overvalued, with a significant increase, and the risks of contract trading are highlighted. The repeated pin action makes it easy for traders to bounce back whether they are going long or short, so it is recommended not to participate in contract trading, especially in the current highly active market environment.
Support Level: The current support level for Bitcoin is in the range of 102000-98000, and everyone needs to pay attention to the fluctuations within this price range.
ETH (Ethereum) and Altcoin Market
ETH is currently at a critical moment, having broken through the year's new high, but the upward momentum is not strong enough, and there has not been a significant rise.
Daily Level: Yesterday's candlestick closed with a long upper shadow, and there was a slight decline after today's opening.
The key is whether it can repair yesterday's upper shadow market. If it can repair and break through the double top structure, it may open up new upward space.
Current Analysis: The current price is close to around 4000 points, a critical position for a double top. A pullback may occur in the short term, but if the upper shadow is successfully repaired and the double top is broken, the potential for subsequent upward movement will greatly increase.
Operational Strategy: Altcoins will rise immediately during ETH's upward movement. It is advisable not to expect fivefold or tenfold increases excessively; first set a target of 50-100% increase, and if the target is reached, take profits in a timely manner and exit in batches. Avoid blindly chasing highs and adjust positions as needed.
Long-term Layout: Besides holding a few long-term favored coins, trading of other coins should remain flexible; do not lock all positions in a single asset.
The current market rhythm alternates between pullbacks and repairs, so maintain flexibility in operations and pay attention to timely strategy adjustments.
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