Overnight, all three major U.S. stock indices closed up, with the Dow rising 1.06%, the S&P 500 up 0.53%, and the Nasdaq up 0.03%. Most large tech stocks fell, with Google down more than 4%, Amazon down over 2%, and Apple, Tesla, Microsoft, and Meta slightly down; Intel and Netflix rose over 1%, while Nvidia saw a slight increase. Bitcoin is approaching 100,000 USD, peaking at 99,000 USD overnight, while Ethereum surged to test the 3390 line. SOL broke its historical high, reaching 259.9 USD. Long-dormant old coins like OP and ARB also showed signs of rising, indicating that funds are starting to enter the altcoin market.
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The price of Bitcoin continues to refresh new highs, reaching the significant level of 99,000 above, demonstrating the strength of the bulls. From the four-hour chart, the Bollinger Bands are opening upwards, the KDJ line crosses and runs upwards, and the MACD is in the bullish area, indicating there is still room for further increases. The 100,000 target we anticipate is also just around the corner! Many hands make light work, and shorts are consistently being liquidated, with those not liquidated also being caught, leaving shock and fear. The greed index has already shattered historical records, and the large-scale market has become unrecognizable at the top. At this moment, one should not have a fear of heights or fear of the top. In terms of operational strategy, we should always follow the principle of acting in accordance with the trend. When a pullback occurs, it is an opportunity to go long.
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Ethereum's rise last night was also forcibly pulled up by Bitcoin, demonstrating the strength of this surge. During yesterday's trading, there was a pullback testing the 3030 line, and the evening session linked with the index to create room for further increases, peaking at 3390. It has already broken the rising triangle pattern, and according to the flag pattern indicator, it is very likely to break the previous high of 3450 resistance. When there is a sudden rise and fall, wait for stagnation. The overall trend remains bullish, so any decline within a bullish trend should be directly regarded as a false short signal. After bouncing back to trend support, enter decisively.
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Bitcoin is just 2% away from challenging the important threshold of 100,000 USD per coin. It has surged 40% in a month; so why hasn't the altcoin season arrived? It is evident that the regular army will temporarily not choose such altcoin targets. Since we have analyzed the reasons, it is not difficult to draw a conclusion: Will the altcoin season come? — It will come. When will the altcoin season arrive? — It will come when the water rises. This is determined by the essence of funds and human nature, just like when we missed Dragon 1 and chased after Dragon 2. At this time, one needs to remember one thing: do not let the noise of the market disturb oneself; trading is actually very simple. A rise is a good time to sell, a fall is a good time to buy, merely low buy high sell. In conclusion, whether the altcoin season comes or not depends on understanding one simple thing: has the money to buy altcoins arrived? What we can do is choose narrative coins that have not yet started and hold them to wait!
