Sunday Night Bitcoin and Ethereum Market Analysis and Weekly Summary
This week's market has been tumultuous, once again highlighting the significant impact of fundamental events. At the beginning of the week, Bitcoin bulls made a strong push, successfully surpassing the 110,000 mark. Subsequently, the market entered a turbulent adjustment around 109,500, during which the positive reactions were limited. After a pullback on Thursday, on Friday, the price quickly dropped to 102,614 due to fundamental impacts, followed by a weekend of consolidation. Ethereum's performance was similar to Bitcoin's, but on Wednesday, it experienced an independent rebound, reaching a high of 2,879. It then retraced to 2,433, with similar weekend fluctuations. This week, short-term strategies experienced both gains and losses, but the overall win rate remained at a high level.
Review of Swing Strategy: The swing long position that was restarted near 102,500 last week saw a return to above 110,000 this week, and we have advised partial exit. This nearly 7,000-point movement is the best reward for patience and perseverance.
From a technical perspective, the two consecutive bullish candles on the monthly chart had shown the infinite glory of bulls, but this month's high failed to break through further, with significant resistance for the bulls and a slowdown in upward momentum. The appearance of a doji pattern on the weekly chart makes the subsequent trend even more enigmatic, and there is already a trend forming a double top structure, with fierce competition for key levels still ongoing. Especially after this week's downturn cleared the buying area concentrated above 103,000, the subsequent key support level remains between 103,000-101,000. Once this level is broken, a deeper decline may continue.
At the same time, we thank both new and old friends for their trust. Old Tian and the team will certainly do their utmost to gather strength to help every friend with a customized margin plan move forward steadily.
#美国加征关税
This week's market has been tumultuous, once again highlighting the significant impact of fundamental events. At the beginning of the week, Bitcoin bulls made a strong push, successfully surpassing the 110,000 mark. Subsequently, the market entered a turbulent adjustment around 109,500, during which the positive reactions were limited. After a pullback on Thursday, on Friday, the price quickly dropped to 102,614 due to fundamental impacts, followed by a weekend of consolidation. Ethereum's performance was similar to Bitcoin's, but on Wednesday, it experienced an independent rebound, reaching a high of 2,879. It then retraced to 2,433, with similar weekend fluctuations. This week, short-term strategies experienced both gains and losses, but the overall win rate remained at a high level.
Review of Swing Strategy: The swing long position that was restarted near 102,500 last week saw a return to above 110,000 this week, and we have advised partial exit. This nearly 7,000-point movement is the best reward for patience and perseverance.
From a technical perspective, the two consecutive bullish candles on the monthly chart had shown the infinite glory of bulls, but this month's high failed to break through further, with significant resistance for the bulls and a slowdown in upward momentum. The appearance of a doji pattern on the weekly chart makes the subsequent trend even more enigmatic, and there is already a trend forming a double top structure, with fierce competition for key levels still ongoing. Especially after this week's downturn cleared the buying area concentrated above 103,000, the subsequent key support level remains between 103,000-101,000. Once this level is broken, a deeper decline may continue.
At the same time, we thank both new and old friends for their trust. Old Tian and the team will certainly do their utmost to gather strength to help every friend with a customized margin plan move forward steadily.
#美国加征关税
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BTC
106,952.68
+1.94%