On Thursday morning, after a prolonged period of consolidation, the price of Bitcoin broke out and surged. After the breakout, I decisively cut losses and entered the market again, and up to now, I have already realized a profit of 1500 points. I believe that fans who have been following me are aware of this. I have emphasized multiple times in the past two days that when there is a breakout, one should decisively stop losses. With effective execution, those who followed this advice basically did not suffer losses, and some even had decent profits. The reason for this is to avoid going against the market trend. After a breakout from the range, it’s the rhythm of going long, and one should follow up in a timely manner.

From a technical structure perspective, the short-term has effectively broken through resistance levels and opened up space. The breakout after a prolonged period of consolidation aligns with expectations. After the short-term breakout, a step-by-step retracement structure has formed, which is still a relatively good pattern. After a consolidation in a smaller cycle, a large bullish candle has formed with volume increasing. After breaking through the resistance at 98000, there are already signs of stabilization forming a top-bottom conversion. However, it is worth noting that the RSI indicator shows a divergence indicating overbought conditions, and the short-term may face a pullback correction. However, under a strong trend, the pullback strength is also limited. As long as the price maintains above this position during the pullback, one can remain bullish and continue to go long.

On Thursday evening, a slight pullback in Bitcoin to the 98500-99000 area is still a good opportunity to enter long positions, with the next resistance level to watch being at 101800! Regarding Ethereum, the target remains unchanged, and we continue to be bullish on the 2000 level!