BTC (Bitcoin) rose to around 81200 at around 2 AM, then entered a pullback mode, and did not begin to rebound until after dropping to 78550 around 5 AM.
During this rebound process, two peaks of 81808 and 81944 appeared successively, followed by a minimum pullback to 80467 before rebounding again. As of now, Bitcoin is exhibiting high-level volatility around 81200.
From the perspective of Bitcoin's larger trend, BTC is still in a high-level sideways state with no signs of adjustment yet. However, if it pulls back below 78550 and further drops below 78000, a significant adjustment may occur.
From the weekly and daily levels, Bitcoin's trend is extremely strong, with almost no signs of a pullback. Although there have been two bearish candles on the 4-hour level, the trading volume is minimal and quickly covered by bullish candles.
From a technical perspective, Bitcoin is indeed performing strongly, but it should be noted that technical patterns only reflect established outcomes.
One cannot assume that just because of the strong previous trend, the subsequent trend will necessarily follow suit.
After all, Bitcoin has risen nearly 15000 points from 67000 to now; this increase is not considered large, but neither is it small, so there is a possibility of a pullback.
Currently, the market sentiment is quite bullish, as can be seen from the funding rates, all coins have positive funding rates. It is important to emphasize that I am not pessimistic about the market's subsequent upward trend, but I am merely reminding everyone to be cautious of pullback risks in the short term.
In terms of operations, it is recommended to primarily look for long positions after Bitcoin pulls back to find support, while setting appropriate stop-loss levels. For those holding positions, if the position is heavy, it may be wise to reduce holdings, such as selling 30% - 50% of the position, and then re-enter when the pullback is significant.
If you are a long-term investor, then there is no need to engage in such operations.
Investors doing short to mid-term swing trades may refer to this method, while long-term investors need not pay attention to short-term fluctuations and can hold until the market peaks.
ETH (Ethereum) began rebounding from around 2400 last week, reaching a high near 3250, with a growth of 30%. From the weekly and daily perspectives, its trend is also quite strong.
However, Ethereum has shown signs of adjustment on the 4-hour chart. Last night, while Bitcoin was continuously hitting new highs, Ethereum did not experience a significant rise and remained near its previous high. Currently, the first support level for Ethereum on the 4-hour chart is around 3070.
From a mid to long-term perspective, I remain optimistic about Ethereum's upward trend, but there is a possibility of pullback in the short term. In terms of operational advice, long-term holders may continue to hold, while swing traders should focus on finding low points to go long and set appropriate stop-loss levels. Follow the public account: Yunzi Community.
If it breaks below the level, then first take a stop-loss, and then look for opportunities to enter near the next support level.
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