BTC Technical Analysis
Last week we analyzed that the rise of Bitcoin from 94256 to 102540 has formed a strong momentum push. If it stays above 98400, we can still consider the trend to be strong, and the upward movement may continue. If the rise starting from 100609 is seen as a new round of upward movement, there are two possibilities: one is a slight push similar to the previous round of rise; the other is to view the previous round of rise as wave 1, and the current rise starting from 100609 as wave 3-1. Next, we need to observe the market performance after the US stock market opens tonight to make further judgments.
The above analysis belongs to predictions, but I have always emphasized: "In trading, follow the trend primarily, and use predictions as a supplement." Regardless of whether Bitcoin experiences a violent surge or a slight increase, as long as it maintains strength and does not break the current support, the overall market sentiment in the cryptocurrency space will still be positive, and the altcoin market will also find opportunities when Bitcoin is strong. From a larger perspective, the current trend is very similar to the trend in October last year, and the reference value of historical candlesticks is extremely high, which I have mentioned twice before.
The real key is not to obsess over Bitcoin's short-term fluctuations, but to review and observe how the altcoin market evolves when Bitcoin is strong.
