On the first trading day of 2025, the three major U.S. stock indices opened higher together, with the Dow rising 0.63%, the S&P 500 index up 0.48%, and the Nasdaq increasing by 0.47%. The long positions that have been nurtured for so long have now exploded, fueled by the short sellers' liquidation. We have maintained a bullish outlook recently, which is beyond doubt. The large position of 94,000 in Bitcoin and the long position of 3,350 in Ethereum that were set up in the early hours have already exited, respectively capturing 2,700/100 points of space. Currently, after a surge and pullback, the market continues to slowly rise above 97,000. Trading must have a plan and strategy; blindly entering can lead to disastrous results. Friends who are struggling can always consult Jin Cheng for guidance and learning!
The daily chart shows a bullish surge, which has brought the price to a high level and stabilized somewhat. The previous peak has now transformed into a bottom, and the overall strong structure speaks for itself. The current trend remains in a phase that awaits correction before potentially reaching new highs. After several consecutive bullish candles on the four-hour chart, there have been some bearish candles as well, but overall, the bearish candles are small and fragmented. The pullback is within a normal range, and the speed of downward spikes has been quickly reclaimed by the bulls, with support continuously moving upward. The resistance above is also precarious and can be broken again at any time. Overall, we will continue to look for opportunities to buy on pullbacks.
Bitcoin is hovering around 97,000, with an expected target near 99,000. Ethereum is around 3,480-3,460, with an expected target of 3,550.
