The script has once again perfectly realized; Bitcoin has finished consolidating and built a bottom, surging continuously and breaking through the pressure range of 91500-93000 in one breath. Everywhere is filled with bullish sentiments, but how many people are truly on board? We repeatedly told everyone in the range of 77000 to 81000 that it was highly likely the bottom, the darkness before dawn. Don't think about buying lower; if there is a pullback, accumulate in batches. We have emphasized this many times. The cryptocurrencies recommended, such as SOL, CRV, RAY, PEPE, and SUI, have significantly outperformed Bitcoin, yielding substantial profits. I hope everyone has listened and followed suit, enjoying this wave of profits with us!
The market has reached this position, actually stronger than expected. The strong pressure at 91500 has been broken through with volume, and there are currently no obvious signs of a pullback. The bullish trend is taking shape, and there is an expectation for the market to continue. This means that we don't need to look at hourly divergences anymore, as they are difficult to reverse the trend. Before any daily divergences appear, the worst the market can do is consolidate; the possibility of a direct drop is very small. It is not recommended to guess the top and short here! The recent pressure level above is around 96100; it's hard to say whether it can continue to break through, so let's observe for now. Those who reduced their positions last night need not regret; the 93000 level serves as a technical reduction position, which is completely fine. Although the market is stronger than expected, as long as it can hold, there will be many opportunities to participate in various assets. Many cryptocurrencies are still at the bottom, and if the market stabilizes, we can comfortably look for other assets to catch up without overly worrying about missing out!
Today, the greed index quickly rose to 72, and retail investors' enthusiasm for chasing highs was ignited rapidly, which is a hidden concern for the market. Additionally, there is a gap on the CME around 91200, which is also an important pressure support swap position. In the next few days, it may pull back to fill this gap, and this will also be a strong support! Ethereum is still weaker than Bitcoin, but fortunately, there is still some space away from the pressure at 1870, with expectations for a rebound. However, Ethereum is currently the doomsday vehicle; every time it surges, it drags down the whole market, so this point should be noted!
To summarize, the first wave of the rally after the bottom formation is coming to an end. Let's observe for now, not rushing or getting anxious, and wait for clear opportunities to arise before taking action!
