The price of Bitcoin has continued to pressure down after breaking through the peak, and the daily chart is currently in the third stage of rising, finally ending the fluctuations. The subsequent market trend will only become more turbulent!
The market here has raised a question mark, with such a large bullish candle left on the daily chart; where will the price head next? Will the third rising stage come to an end? The source of selling pressure here is clearly from the whales who are not satisfied with the current high point.
Last night, it was mentioned that the wild horse is about to take off; now that the peak has been broken, what needs to be done is to defend the line, to hold onto the starting point of this rising retracement (101350-102850), and then complete the peak jump for the structure to be considered complete.
The highest price reached was 107149; personally, I was a bit too cautious. After seeing a change in the 106000 pattern, I thought the subsequent trend would be full of ups and downs and decided to take less than a thousand. It's not a big problem; at least we need to go above 106500 once more, or even close to or above 110000, and the low long strategy can continue. You who are currently bearish need to be more cautious; there hasn't been an ideal upward surge yet.
On the contrary, Ethereum is weak, having not touched 2635. It was said that if it didn't break, it would short, but quite a bit was taken. Since the direction of the market has emerged, I won't look at Ethereum independently; it should just be a follower now. Currently, it is also a bit weak; it won't be too calm in the near future, so let's trade less. I believe that after Bitcoin surges, Ethereum will also follow the rise.
The selling pressure on the 4-hour K-line is intensifying, with a strong sense of oppression from a large bearish candle and constant false breakouts. Currently, it has broken below the strong position around 103700; during the day, it may need to dip below 102450, which is also our low long opportunity. Remember, if it doesn't touch 106500, it's impossible to be overly bullish. If there is no further drop below 101350, we can go up to 104500-105400.
