Noon Market Analysis: $BTC & $ETH – Is 100,000 Within Reach?

$BTC

As we approach the critical 100,000 mark for Bitcoin ($BTC ), the question remains— is it still possible to join the ride? Just as predicted on the 1st, we’ve hit 99,000 after six days. Many traders are likely wondering how many have jumped in at the right time. The ideal entry point was at 91,500, following a series of five downward trends, with the final shakeout before the upward move began. Currently, we are experiencing the 4th wave of this rally.

Looking at the 4-hour chart, we can see that the price has been moving sideways between 99,000 and 96,500, with little intention of breaking below 97,000. The market is hovering at these elevated levels, preparing for a potential leap towards 100,000, which marks the fourth attempt to reach this price point after the initial dip from 108,000. Will this be the time we finally break through?

Based on intraday trends, there shouldn’t be a significant pullback for now, but the 100,000 level will face resistance after multiple failed attempts. Volume remains insufficient, and with US stocks holding steady and continued buying interest in Bitcoin's ETF, the path to 100,000 seems likely. However, a direct jump to this level still feels challenging, especially since the market has failed to break through on three previous attempts. With the weekly chart showing a death cross, a pullback this week is still possible. As for my position, I've decided to temporarily exit my long positions, securing an 8,000-point gain. I plan to re-enter after a pullback or once 100,000 is breached. I closed my long position today and reversed to short, though I lost at 995. When the fifth upward trend occurs, I will short again.

Regarding Ethereum ($ETH), the outlook remains favorable as we continue to see a consistent range. I’ve been suggesting a potential entry point for the past 32 days, with targets ranging between 3,520 and 3,690. On the 1st, Ethereum fluctuated around 3,300, and I set the upward target at 3,600. By the 4th, I updated this to 3,690 for the upward target and 3,520 for the downward target. As a result, taking profits from long positions and opening a short at the appropriate time is reasonable, with a defense level set at 3,720. A 120-point range down to 3,570 would be an ideal target for this st

rategy.

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