After several days of piercing through the daily K-line, the price has recently reached a new high of 108.3k, setting a new height for the second half of the year!

As I mentioned multiple times at the beginning of this month and at the end of last month, if the hundred thousand can successfully stabilize, then it will definitely not be the final peak, and it will continue to expand slowly based on the upward space. Currently, the bulls remain strong, but with several days of strong upward movement, it is very likely that a pullback will occur again this week.

The 4H trend of Bitcoin has currently completed a pullback of over 3k points, and there is no significant stop in the downtrend during the day, so for the small cycle during the day, you can refer to whether the support around 104.6k can be effective.

In this round of upward movement, Ethereum has hit a double top of 4100 this month, and the four-hour chart has pulled back to near the lower track. The current reference position is at 3820, which will become effective support for the day.

In terms of operations, for spot trading, maintain the position mode discussed earlier to hold. Before the end of the year, there is hope to see the high point of 120k; as for contracts, at this stage, it is not very recommended for everyone to enter with large positions. At least a pullback of 20% - 30% or more is necessary to truly consider it a frenzy period for contracts.

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