I'm emotional, family, the market maker has finally pulled it up! Bitcoin and Ethereum are about to rise!
$BTC has been fluctuating at the 83k-85k position for 4 days and finally broke through the resistance at 86k early this morning. Just as I said, it will consolidate for a while before continuing to rise, market prediction get!
In the short term, 85.5k has become a support position, and above that, it faces strong pressure at 88.2k.
This position has neither bought long positions nor spot trades and is in a wait-and-see state. There were some profit-taking from the chips that went long at the bottom today, but not many. Most are betting that $BTC can break through the resistance at 88.2k in one go. From the market perspective, the daily line has always been increasing in volume. If there are no news impacts in the short term, it could stabilize at 88.2k or even break through to 90k, reaching positions of 91k-92k, which would be the best result. If it falls short, the market may fake a breakout at 88.2k and drop to 85k-83k. Whether $BTC's rise can hold will still depend on the movement of American investors after the US stock market opens tonight. After all, the trading volume is still quite low.
ETH
Ethereum is always a bit slower than Bitcoin. The small-scale fluctuations and sideways range of Bitcoin have already broken through, but Ethereum has not yet touched the high point of the range!!! Currently, the price of Ethereum is slightly fluctuating between 1640-1650, let's see if there can be a wave of catch-up!
Technical perspective analysis:
While the smaller scale has followed Bitcoin's strength for a wave, overall it is still much weaker. Currently, the high point pressure at 1688-1700 has not been broken, which continues to serve as a short-term pressure range. After breaking through, there’s still a pressure point at 1750, which is the bottom of the consolidation range in March. It really is a buy-and-silence situation; the more you buy, the more it falls!
Previously, Ethereum was criticized, but now the upgrade on May 7 is coming. This is the last wave of sprinting, so there will certainly be some heat, and the related meme coin Pepe might have a larger increase.
Today, many of these coins have risen a bit, and some small pullbacks are normal. Those who haven't gotten in yet can buy a little at that time. After all, the Prague upgrade is still two weeks away; the rise isn’t something that happens in one day; a bit more patience is needed.
Let's talk about the news time nodes to watch this week. On Tuesday at 21:00, Federal Reserve Vice Chairman Jefferson will speak, which is currently the most critical point. Let's see if the officials are siding with Powell or leaning towards Trump.
The G20 meeting on Wednesday will mainly discuss the economy, and the market is sure to react a bit.
At 2:00 am on Thursday, the Federal Reserve's beige book will be released, and this time frame may also have uncertain factors, possibly causing a large spike.
This week, let's see if these events can bring some good liquidity to the market. Also, don’t impulsively take heavy positions. As I said before, this phase is still a rebound. To reverse, the market needs to show confidence, and who gives that confidence? Only Bitcoin. Currently, the biggest concern in the market still comes from Trump and tariffs. If he can calm down a bit, stabilize in April, and start speculating on interest rate cuts in May, with rate cuts starting in June, then the expected benefits will activate one after another.
Regarding altcoins
Although it has indeed fallen very badly before, a 90% drop is no longer particularly special, but recently there have been some altcoins that have performed quite well, and there are occasional instances of contract prices being inverted to spot prices. This is a manifestation of the main force pulling the spot. Due to the current poor depth, the main force often takes the opportunity to manipulate the contract market as well. This actually resonates with what I said earlier, which is that the difficulty of altcoins is very high because the initiative is basically in the hands of the main force. They can pull it up or smash it down as they wish.
Various altcoins will also perform well. If you didn't buy at the bottom, you can consider selling to cover losses later, and don't have too high expectations. This wave of 'altcoin season' usually only supports three to five times before falling back to the original position, unlike the past when it kept rising tenfold to establish a base.
Altcoins worth paying attention to recently:
1- $JUP launched Jupiter Pro, and the market is approaching the resistance near 0.40. It’s prudent to wait and see for a breakout before entering the market;
2- The upgrade is coming in just over two weeks, still paying attention to the upgrade-related tokens: $LDO, $ARB, $OP, $PEPE, $RPL, $PENDLE, $ENA, etc.;
3- $Aave is discussing deployment on Aptos. If approved, this will be Aave's first non-EVM deployment. After breaking through the wedge and retesting, it is moving up again, but it hasn't provided a chance to return to 130. Currently, there is a 4-hour support at 140, considering entering the market;
4- If $BN is in the top ten of the negative fee rate list and has not been pulled up or has very little pull, then it is very likely that it will be pulled up;
Let’s highlight
$PEPE
I believe everyone has paid attention to the peak moment of Pepe, which has now dropped 70% from its high and has formed a W bottom at the daily support level, making it a very suitable position to ambush.
It is expected that within about a month, the price increase will reach between 40%-50%!
