The pancake entity station reaches an all-time high! What is the potential for the future?
The Bitcoin price reached a maximum of 107286 this morning, refreshing the recent previous high, and it has strongly broken through the historical entity high of 106788. Currently, it is still resting at the highest position. Historically, there have been wicks around 110,000, and this time it has genuinely touched the high point, so one can imagine the potential of Bitcoin in the future.
The daily chart structure is still showing a perfect upward trend. The trendline formed by three points has never been broken. If nothing unexpected happens this time, I expect the pancake to make a big move within 4 days!
In the 4-hour candlestick chart, we can see that in the segment marked by the box, whenever the bears sell, they are immediately bought back by the bulls. It can be said that this is a very strong upward trend, and there is no demand for a pullback; all are substantial bullish candlesticks, and some can only be pullbacks for consolidation.
(105000) The red line serves as previous resistance, and after effectively breaking through, it naturally exchanges roles. Therefore, I take this as a reference for strong price levels during the day, which is also my first support (around 105000). As long as it does not fall below this position during the day, the bulls are not in danger. #ETH走势分析
For reference, aim for the area around 107988 for long positions; Ethereum has not touched 2580, so I don’t want to go long! $BTC