The price of Bitcoin has reached 107,790 and is about to reach the second target of 109,300. Bitcoin is currently near a critical position, with a high probability of breaking through the upper edge of the upward channel. Only after breaking through will the next phase of upward space begin, continuing to look bullish.
From the current BTC trend, observe the volatility of this Thursday's interest rate meeting. If it dips, the lowest limit might be around 103,385, while 102,800 is also a strong support level. The likelihood of a large daily pin is very small; at least currently, there are no signs.
When the price is in the range of 106,600-107,700, the normal pullback will be to a low of 105,755, which is a support level. Below that, 105,300-104,600 is a support area, and further below, 103,800-103,300 is also a support area. With three lines of defense, positions opened below 103,000 for low long orders are fearless. The bulls just need to defend this area, even if the bears push down to here, the bulls don’t need to panic and retreat. To move upwards, it’s a massive pump. Once 108,200-108,800 breaks through, it will likely hit around 109,500-110,375. A regular pullback to 108,800-108,600 will directly push towards the 120,000 direction. I have already seen the upper high at 114,600. For short-term contracts, we will gradually move upwards, step by step!
In the past week, Bitcoin has started to build momentum for an upward attack, pulling out 95% of the market's liquid funds, causing altcoins to fall without rising, including ETH which has been stagnant. This is a normal phenomenon as there is currently no external capital inflow; all movements are driven by internal funds. In the next few days, as Bitcoin approaches the 109,300 range, we will see some consolidation, and let's see if altcoins can seize the opportunity for a strong rally.
The explosion of the altcoin season requires ETH to strengthen its rally. Over the past two days, I have observed that ETH has been seeking to break through the 4000 mark. It seems to be starting to push up. The upper range of 4250-4350 is still quite reachable. Ethereum's efforts in the second layer series will naturally follow, and everyone can pick a few coins to enter; a conservative 10%-30% rally benefit should still be possible, details can be seen in the marked chart.
SOL will see a two-day line reset this week, expected to reach a low of 201.50 with a rebound of 26-30 points. If placing orders, lock in 204.25-201.50. Bottom fishing around 201.50 (not to be used as a short position take-profit reference, do not blindly follow). The last time the daily line reset, it bottomed at 216, predicting a rebound of 17-26 points, and the actual rebound was 26 points.
The recent market has washed out a lot of speculative retail traders, and those who chased high prices have become the fuel for the bull market. As long as you can read the charts, the market makers can't do anything to you. This chart shares key trend lines; the support of the trend line is a critical entry point in an uptrend.
Summarize a few tips to avoid missing out:
1. The upward trend formation will not be easily broken. Every time it pulls back to the trend line is an opportunity to board confidently.
2. The momentum during the upward process is a continuous method. Staying away from the trend line indicates greater risk, and profits above are also smaller. Don't chase the market just because of a feeling; your feeling that it will rise, and that you can enter, is just an illusion created by the market makers. Chasing high prices will lead to losses.
3. Go with the trend; trading cryptocurrencies is about trading trends. The trend is bullish, and the entry point is also very important. If you buy Bitcoin at 60,000, the risks are very different from buying at 100,000. Therefore, grasp every dip to key points along the trend line; that is the opportunity to position yourself.
4. As long as you don’t chase high prices, the retail traders turn into the harvesters. At this stage, we are still in a very good early bull market, not at the explosive phase yet. Manage your positions well and allocate your account funds properly; the next half year, it is not a problem to conservatively triple or quintuple your account.
If you really can't navigate the crypto world by yourself, don't force it; come find me to be mentored. Stay informed on the latest news, layout strategies, embrace the bull market, increase your win rate, and say goodbye to being trapped at high positions.
