Bitcoin has surpassed the $100,000 mark, some investors are overjoyed, while others are filled with regret.
In this context, can Ethereum continue to rise? My personal view is that Ethereum will definitely break through new highs, and here are a few professional points supporting this view:
1. History always has astonishing similarities
Comparing with previous candlesticks, we can see from the monthly chart that Bitcoin broke through its 17-year high on November 1, 2020, while Ethereum did so on January 1, 2021, approximately three months later. In this round, Bitcoin has already broken through its 21-year high on November 1, 2024, so will Ethereum also break through its 21-year high of $4,800 on January 1, 2025?
2. Bitcoin successfully validates that November is the true breakout
We see that Bitcoin's monthly chart shows it broke through its 17-year high on November 1, 2020, and it exactly broke through its 21-year high on November 1, 2024, currently validating that history has similarities!
3. Technical analysis of Ethereum
From a technical perspective, Ethereum's candlestick chart has clearly shown an upward trend. The bear market's flag pattern has been completed, and it is currently entering an upward structure of either three waves or five waves. Based on the logic of proportional increase, Ethereum's breakout from this bull market flag is inevitable. Once it breaks through, its price is expected to soar to a new high of $4,800, or even higher. This prediction is based on an in-depth analysis of market trends and the comprehensive use of technical indicators, making it highly credible.
In summary, Ethereum has tremendous upward potential, and breaking through new highs is just around the corner. Rational analysis, cautious decision-making, I am Mr. Bai!
