Bitcoin suddenly surged this afternoon, rising to a high of 106480, then continued to decline, currently oscillating around 10.5. Recently, Sweet Dream has been emphasizing in articles to go long around 104400\103100 and short around 106100. If you followed the strategy, you've made profits on both sides, making a whopping 200%.
BTC
BTC has a structure for making structures; if there is no structure, then follow the trend. Liquidity is very poor, as if we've returned to 2023. Currently, there is a slight rebound, and it has once again stood above the key support level of $105000. Recognize the downward trend line and the resistance level around $107000 above; if it can break through, that would be great; otherwise, it will continue to oscillate within the range.
105200 is the upper boundary of a consolidation zone, which has now broken through. The right side can be bullish. However, 106100 serves as the barrier for this segment of the market, and it's normal to see a 'resistance pullback' here. After the pullback, wait for the support test at 105200, where it has the potential to become a starting point for this phase.
103500 can be a short-term long rebound. 100900-101500 is very important! 108400/110400 need no further explanation; it can still be shorted.
Bitcoin has been oscillating in this range for almost a week now. In this situation, the next move will either be a deep drop with a spike before starting the trend or a long time of horizontal movement before it launches directly. No matter the scenario, this year's major movements will not be absent. Accumulate spot positions and wait for opportunities; the current oscillation is gradually approaching its end, and a change is not far away.
ETH
ETH is a bit weak, but it has broken through short-term pressure. Following Bitcoin, it has broken through 2540 and is preparing to test around 2580. It can be bullish on the right side, targeting 2610/2670.
However, for the bulls, the volume during the breakthrough is completely insufficient. For the continuation of the bulls afterward, this may become an obstacle during the rise. The lower boundary of the converging triangle is an upward trend line; as long as the price remains above this point, it can still push upwards. Consider short-term rebounds to 2445/2380.
In short, ETH has not completed a reversal structure at a large level in the short term; the daily rise is likely just a small rebound. We need to see a pullback that does not create new lows, with an expected position around 2500. Only if the rebound structure continues will there be a possibility of triggering a larger level reversal.
Clones
After several cycles of clones, the big players always operate on a few platforms, making all kinds of tricks with the same old story. No matter what the name is, when you lift the veil, it's just the same old cycle: 'issuing money to stimulate trading volume - trading volume stimulates issuing coins - issuing coins attracts retail investors - retail investors provide profits - profits are used to issue money'.
How could they possibly come to play with retail investors in memes or failing projects? What a ridiculous international joke!
Wall Street's first axe is working on spot ETFs. It has directly diverted the trading volume of BTC spot transactions. Now, more than a year has passed, and the trading volume of BTC ETFs is said to account for 10% of the total BTC spot trading volume. Perhaps in the near future, or maybe just a few years from now, it's not impossible for ETFs to divert half or even more of the BTC trading volume. That money is all in the US stock market and won't come to play with retail investors in the crypto space.
Wall Street's second axe is working on compliant stablecoins. This is the market for squeezing out non-compliant old stablecoins like USDT, undermining the entire crypto space. Compliant stablecoins will engage in legitimate business in the future, such as integrating online payments across various industries (like e-commerce, ride-hailing, etc.), earning reasonable and legal profits, such as the interest on backed assets (like short-term US Treasury bonds). The money in compliant stablecoins is unlikely to be used to help retail investors in the crypto space with failing projects.
Wall Street's third axe is about harvesting retail investors. The US stock market used to be dominated by retail investors, and guess why it has developed to a point where retail investors have been driven out and have obediently handed their money over to institutions? When Wall Street institutions can collaborate with the president, continuously release news, reverse and reverse again, with twists and turns, when they pump and dump the market, how can a small retail investor navigate this?
In this bull market, shorting clones at highs is the right path.
Yesterday, Sweet Dream allowed fans to obtain shorting passwords in the article. My fans have already caught up with this trend. Sweet Dream discovered several good opportunities for shorting clones this afternoon.
On-chain:
YOURSELF: A token supported by confidence, the product is you. Develop your true potential; the more you believe, the more valuable you become. This is a classic form of nihilism, believing that this platform will break out based on the product, but discovering that so many products have ended up being a pile of garbage, all should return to zero; it’s better to be nihilistic. A small detail worth noting is that when the token was launched in the morning, I noticed only the founder of a16z was involved, and then a few hours later, I found it was being followed by some overseas KOLs like him and Ansem. Currently at 1.5m, if he shouts, the ceiling for this token still looks quite high.
JOE: Ethereum classic meme, 60 million already, 20 million calling you to board, 3 times the capital capacity is good, don't tell me you're not on the bus, diamond hands' rare victory, only Ethereum is worthy of diamond hands! Not considering the subsequent market rebound, it will only get higher!!
NYLA: Sit tight; the fundamentals are good, the development is solid, and the project looks good everywhere. It's time to go to 10m!!! Breaking through the downward trend line will lead to a wave of market movement; simplicity is key, and there is support on the daily line, send it!
