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Bitcoin and Ethereum Market Analysis and Trading Strategy
Bitcoin (BTC)
Yesterday, Bitcoin surged from $106,000 to $110,000 due to the issuance of 1 billion stablecoins, significantly increasing market liquidity and approaching its historical high. The daily chart closed with a large bullish candle, forming a five-day consecutive rise, with the 7-day moving average crossing above the 14-day moving average, indicating a clear short-term upward trend. Based on the stage increase pattern of 10,000 points, the target is set at $113,000-$115,000. The 4-hour chart shows that after a V-shaped reversal from $100,000, the second wave of upward movement continues, and there is still room for upward movement after an intraday pullback. In terms of operations, support is focused on $108,800-$107,800, and resistance is at $110,800-$111,800.
Ethereum (ETH)
After forming a bottom in the $2,480-$2,540 range on the daily chart, Ethereum broke through multiple moving average resistances in the early morning, closing with a very large bullish candle, with the short-term target set at $3,050. Selling pressure may intensify near this line, but the breakout process could be swift, followed by a transition to a fluctuating upward trend. The 4-hour chart shows limited adjustments after a large increase in volume during the early morning, with strong upward momentum. In terms of operations, support is at $2,660-$2,640, and if it closes above $2,680 today, the upward momentum will strengthen.
Altcoin Opportunities
Referring to last year's market, Bitcoin rises first and then consolidates, while Ethereum and altcoins follow with explosive growth. Currently, Bitcoin is strong, and altcoins are in a low accumulation phase, with large-scale positions being established last night. It is recommended to seize the opportunity for layout.
