On the first trading day of 2025, the three major U.S. stock indexes opened higher collectively, with the Dow rising by 0.63%, the S&P 500 up 0.48%, and the Nasdaq increasing by 0.47%. The long-anticipated surge is fueled by the short-sellers’ liquidation. Recently, I have maintained a bullish outlook, which is beyond doubt. The long positions in Bitcoin at 94,000 and Ethereum at 3,350 that were set during the early hours have already exited, securing gains of 2,700 and 100 points respectively. Currently, after a pullback from the highs, the market continues to slowly rise above 97,000. Trading must be planned and thoughtful; blindly entering the market leads to unfavorable outcomes. Friends who are struggling with trading can consult and learn from Jin Cheng!
The daily chart shows a strong upward trend, successfully bringing the price to a high level and stabilizing it. The previous peaks have transformed into the current support levels, and the overall strong structure speaks for itself. The current trend remains in a phase awaiting correction before reaching new highs. After several consecutive bullish four-hour candles, there are also accompanying bearish candles; however, the overall bearish candles are small and fragmented, indicating that the pullbacks are within a normal range. The speed of downward spikes is quickly recovered by the bulls, and the support continues to rise. The pressure above is also precarious and may be breached again at any moment. Overall, we continue to adopt a strategy of buying on dips moving forward.
Bitcoin is expected to hover around 97,000, with a target of approximately 99,000, while Ethereum is expected to range around 3,480-3,460, aiming for 3,550.
