In recent days, Bitcoin has continuously broken new highs, and Ethereum has also been breaking through. The overall market is steadily moving up. Ethereum and Ripple are performing relatively strong, while other mainstream cryptocurrencies and major altcoins are generally being drained before stabilizing and moving sideways. Only then will funds flow into other mainstream cryptocurrencies and major altcoins. However, during Bitcoin's rise, there has not been a significant increase in volume. Currently, it seems that the trend still has the potential to continue rising, and it is not ruled out that it could linger around the $110,000 position in the short term.
Today a friend asked me where the top is; actually, that’s not important. What’s important is whether the risk or opportunity is greater at a certain position. Just manage the corresponding positions well. Many experts can't escape the top either. Later, I will briefly explain my position control thoughts; personal reviews do not constitute any investment advice.
Bitcoin is expected to consolidate around $105,000. The trend of continuously breaking new highs is stable, but unfortunately, there is no volume. If there is no significant volume to push it up, it will only be drawn up through bloodsucking, so be cautious of a pullback. A slight increase and sideways movement are actually quite similar; both are testing the waters. In a bull market, one should not call a top, and one should not short when bearish. At this time, the upper levels are tested and broken one by one at major integer levels, and each breakthrough will lead to a pullback for solidification, so don’t rush to add positions during the pullbacks, and avoid chasing highs. After all, it’s always more comfortable when someone is on guard at the peak. BNB is expected to fluctuate between $700 and $740. I'm so moved that they have actually issued two loyalty Holder rewards consecutively, the fourth and fifth phases. ETH is expected to consolidate around $4,000 and gradually rise. If one continues to invest regularly, it will definitely be profitable, as institutions are continuously increasing their holdings in the short term, and there is also a target of $4,800 above. As the saying goes, with clear goals and actual actions from institutions, it’s still very promising. For those who think Bitcoin is too high, they can actually consider this asset.
Some important consultations:
1. The elected president of the United States, Donald Trump, plans to establish a Strategic Bitcoin Reserve (SBR) through an executive order, utilizing the Treasury's Exchange Stabilization Fund (ESF) to purchase Bitcoin. Michael Saylor, co-founder of MicroStrategy, stated that he believes Trump is serious about establishing a national Bitcoin reserve.
2. The elected president of the United States, Donald Trump, attended the annual gala of the Blockchain Association and delivered a speech. He promised to ensure that Bitcoin and cryptocurrencies thrive in the United States and will prioritize it as a legislative matter.
3. The asset management scale of the Bitcoin ETF in the United States has reached $129.3 billion, surpassing the $128.9 billion of the gold ETF. Although gold had a 20-year first-mover advantage, it has now been overtaken.
Let's talk about today's daily BTC market analysis: Looking at the K-line, the 1-hour level is in a downtrend, the 4-hour level is in a downtrend, the 12-hour level has turned downward, and the daily level is still in an uptrend. The intraday resistance is at $108,500, and the support is at $102,500.
