Based on the predictions for the market this morning, let me elaborate on the current market situation:
I judge that in the short term, BTC may continue to rise, with another target position between 11-12. It is currently very likely that we are in the 5th wave of an upward trend, after which there will be an end to the rising trend.
Combining MACD, wave patterns, and the corresponding target positions after breaking through the larger downward channel, I personally believe that between 11.5-12w is highly likely to be the end of a certain market phase. Of course, the end of the market does not mean that BTC will plummet; it may exhibit a scenario similar to early 2021, oscillating around a range at high levels. This oscillation range is the selling zone for BTC. Unless there is a massive positive development causing a crazy surge, it is unlikely that BTC will see peaks like those in 2017.
As for Ethereum: in the upcoming 5th wave rise of BTC, ETH will also strive to break its previous high. Given ETH's behavior, it is very likely that the previous high will not be breached in one go. During the pullback after the first attempt, there will be another opportunity to increase positions!
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