Entering the weekend, there is likely to be little market movement, likely oscillating around 101800-104300 at high levels. Potential retracement targets are similar to the two arrow positions in the chart, which is the upper yellow line of the oscillating channel (around 102000); if the range oscillates for a long time without retracing, there is hope for a liquidity grab at high levels of 105000 on Sunday; if it does not break below the yellow line, the trend remains strong. If it falls below the yellow line, it will re-enter a consolidating market, with retracement targets possibly further down to the mid-track (around 97300); besides, we should also pay attention to the progress of Sino-US negotiations over the weekend. If they break down, it could drop back to 97000; if they succeed, it will continue to oscillate upwards.
Bitcoin: The final pump has already begun! This wave of market movement started with Trump compromising and no longer insisting on firing Powell, coupled with favorable unemployment data on May 2. Combined with on-chain data, it feels like the market is indeed slowly improving. The trend over the past month has also revealed some information: even if Trump's stance fluctuates, as long as he does not mention tariffs or guide the market to speculate on recession expectations, the market is likely to follow a pattern of 'rising a bit, falling a bit, then rising a bit' in a fluctuating upward manner. In simple terms, even if the market weakens, the bottom for $BTC will likely hold above 93, and might even maintain a fluctuating upward trend above 97,500 unless there is a continuous major negative event that could break below 93. In this context, the most focused issue in the market is the staking situation of $ETH. Recently, it was reported that BlackRock met with the SEC cryptocurrency working group, which is like a signal: as soon as the market warms up, capital and institutions immediately start to move, which is also a very positive indication. The speculation around ETH staking expectations can gradually heat up, naturally leading to an increase in ETH's momentum. This wave also gives altcoins more time to perform.
Weekly U-shaped reversal, the strongest altcoin level is about to arrive! The trend will not reverse suddenly. Stay optimistic about the major direction of the July interest rate cut and focus on positions.
BTC trend, the weekly U-turn has already started, driven by interest rate cut expectations in June and July, the altcoin index has broken through key resistance levels. The previous two times were in October 2023 and November 2024, both followed by significant surges in altcoins, while BTC's market share plummeted! I am optimistic about this surge, especially since it has dropped over 90%! The interest rate cut in July will begin to be realized, triggering FOMO, as all retail investors enter the market, sentiment peaks, mainstream altcoins break new highs, and all retail investors buy in fully, immersed in the joy of harvest, while the whales start dumping, trapping all retail investors, ending the bull market! The short-term trend returns to the previous technical pattern, after a big bullish candle there will be an adjustment, it won't drop immediately but will oscillate for a few days. BTC has not formed a top model, do not short. On May 13, there will be CPI data, and it is estimated that there will be a slight adjustment in the next few days. Be patient and wait for low buy opportunities. Once BTC rises, altcoins will also rise. Focus on those strong altcoins that have just completed structural reversals and are above the daily or 4-hour moving averages, referencing the trend in November.
Strong catch-up———BNB ecosystem.
A piercing arrow through the clouds! BNB has broken through 670 USDT in the short term, with a 24H increase of 7.41%.
Regarding BNB, it is a coin that must be positioned every time it retraces. When new mining comes in, it always performs well. We should hold onto BNB, as the probability of catch-up is high. Even though today is the weekend, it can't stop BNB's upward momentum.
The trend seems to have broken through the key resistance of 630, and upwards is clear blue skies. For those with heavy positions, it would be wise to reduce positions around the current price of 665, and if it retraces to around 630, they can continue to add positions, with the next reduction point set at around 720.
The rise of BNB, CAKE is also not to be outdone, and some brothers have positioned THE and BAKE. Each sector will have its standout players. Now we can take stock of these two and look for more suitable opportunities.
BNB has risen by 8 points, MUBARAK has nearly doubled, broccoli has gained 30 points. In the secondary market, you can pay attention to some recent old BSC coins, such as Banana S31, Tut (33M), TST, and see if they will catch up.
Various sectors of altcoins are starting to rotate and catch up. Even BNB is pulling the market. The BSC chain and low-cap coins are skyrocketing. Binance has also said that the bull is coming! Pepe, Sol, and Ray have performed well recently and have entered the top twenty list.
The meme series reacts the fastest and strongest when the market turns good:
Suitable for large funds: Ethereum leader: Pepe.
Sol leader: Pnut, Sol hippo is the most interesting. Some brothers have been buying since winter, but the problem is that it kept dropping afterward, and most ended up cutting losses. However, it surged 4 times in two days, then the light vehicle.
BSC chain: Mubarak is washing hard and pulling the market quickly.
Focus on buying the dip, especially since there are some high-quality leaders like ADA, UNI, AAVE, and AVAX, which are good choices to pay attention to.
Finally, Old Chen wants to say:
Generally, secondary BTC leads the charge, followed by memes leading the rise, then strong altcoins rallying... During the period when the secondary market is consolidating, the primary market should release new big coins.
Even if there is indeed an altcoin season, it is essential to remind ourselves to only focus on strong coins with clear structures and opening moving averages.
Don't waste time, energy, and bullets betting on those half-dead junk coins, and don't expect them to suddenly 'take off'. The truly funded and confident coins will always be the first to initiate and provide feedback.