Market Outlook
The two major events of the election and interest rate cuts have been settled. In the upcoming period, there won't be any particularly significant events that will greatly impact the market trend.
Recently, significant positive news has acted like a strong easterly wind, pushing Bitcoin (BTC) all the way up to the historical high of 76900.
However, BTC is now showing signs of a top divergence across multiple cycles, which means there is a demand for a pullback. As expected, it may pull back to around 70000.
Moreover, Bitcoin is likely to continue to oscillate at high levels for a while.
Looking at altcoins, we can see if they will have a remarkable performance led by Ethereum (ETH).
Operational Strategy
Bitcoin
When the price of Bitcoin is in the range of 73400 - 72000, consider going long, with a target price of 74500.
Ethereum
If the price of Ethereum is in the range of 2830 - 2780, then it is a good time to go long, with a target of 2910.
