Yesterday was truly a crazy day!
After breaking through yesterday morning, it surged strongly all the way, with $BTC returning to 100,000 and swiftly surpassing 104,000. $ETH was even unstoppable, surging over 20% during the day with the price breaking 2200.
It completely wiped out the high-leverage short positions below. What does the market maker want to do?
Is this a rebound from an oversold condition or the restart of a bull market rhythm leading to unimaginable explosive growth?
At this stage, Bitcoin has restarted its own bull market rhythm, institutions are buying like crazy, and a state in the U.S. has already passed a strategic reserve bill. The fundamentals of Bitcoin are very stable.
Ethereum has been oscillating in a narrow range of 1750-1850 for nearly a month. After completing the largest technical upgrade in nearly two years the day before yesterday, it violently broke through yesterday. Moreover, the Ethereum weekly rebound is still not over.
Next, we need to wait for Bitcoin to firmly stabilize at 100,000. If it can transition smoothly for the remainder of this week, that would be excellent. After all, if it rises too quickly, the altcoins won't keep up with the market's profit effect 🤡
Bitcoin support at 100,000, resistance at 106,000-108,000.
Ethereum support at 2,100, resistance at 2,300.
