2.11 Evening Thoughts

From the monthly chart perspective, we are currently in the 5th wave of an upward trend. This means that this surge is basically the final push of this bull market. However, it is still uncertain how high it will go. At least from a structural standpoint, there are no signs of a top forming yet. Although there was a buying frenzy in the past few months, there are no obvious top patterns, such as multiple spikes indicating a peak, or K-line transitions from an upward trend to a sideways trend, or significant sell-offs, which would suggest the appearance of a top.

From the weekly K-line structure, the bearish momentum of Bitcoin has increased, but overall remains positive, with key support around 90,000. On the daily K-line level, Bitcoin's bearish volume has decreased and it has closed positively.

Similarly, the 4-hour upward channel remains strong. After a pullback, it was suppressed by the upward trend line, which led to the pullback not being sustained. Given that the short-term market trend is relatively slow, our operational strategy remains focused on buying on the pullbacks!

Bitcoin: Buy around 96,800-97,300, target 99,500-100,000

Ethereum: Buy around 2,640-2,660, target around 2,800

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