【ETH's strong bullish candle yesterday engulfed multiple moving averages, why did it show such a strong trend?

: Crypto Beauty (Gold Medal Tria) Interpretation】

Tria stated yesterday at 3 PM that on the macro front, the Republican Party has confirmed control of the Senate, with 247 candidates supporting cryptocurrency winning House seats. Industry insiders are optimistic about supportive regulation in Congress in the future. After Trump's victory in the presidential election, his supporter Musk's net worth increased by 20.9 billion USD, reaching a total of 285.6 billion USD, topping the global wealth list. Tesla surged 14.75% on Wednesday, and Bitcoin spot ETF data is showing significant inflows, with favorable funding conditions. As the crypto outlook improves, larger inflows are expected in the future.

On the technical side, BTC's previous high has been broken, and attention should be paid to the retest confirmation of the previous high at 73650. Following the 123 rule, the support near 73000 from the lower Bollinger Band and 15-minute EMA can serve as an important reference for short-term bullish positions. The trading strategy is to accumulate long positions in batches near 73000 - 74000, with an average price of 73500, a stop-loss at 72500, and a take-profit around 75000 - 76500.

Ethereum's strong bullish candle yesterday engulfed multiple moving averages, under a very strong trend. Today, it has broken through the lower bearish area and the significant resistance level around 2800, with the potential for a structural bullish market. However, in the short term, the RSI indicator is severely overbought, and historical patterns show that when RSI is in an extreme state, it is prone to trigger short-term corrections. Given the substantial short-term increase, there is a technical need for correction.

Currently, the bullish atmosphere is intense, and the outlook is optimistic. In terms of trading cost-effectiveness, spot positions are more cost-effective compared to contracts. The trading strategy can focus on the key resistance level of 2800 and the upward trend line's retest, following the 123 rule to trade in batches, accumulating long positions in batches around 2750 - 2650, with a stop-loss at 2550, and take-profit at 2950 - 3150 - 3450.

Yesterday, Ethereum's lowest point returned to 2770, as 74000 and 2750 are consensus levels where many placed orders, but the market makers did not provide entry opportunities. Additionally, many supporters of cryptocurrency in the U.S. have secured House seats, and it is believed that Bitcoin will soon usher in a significant bull market.

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