BTC has risen slightly by 0.8% today, now at $106,980!
Short-term bullish but don’t get carried away, $106,500 is a hurdle! If it breaks through, directly look at $108,000-$110,000; if it doesn’t break, be careful of a plunge!
ETH is even stronger! It has risen 2% to $2,470, with SOL and ADA also increasing by 1.5% and 1.2%. But don’t be deceived by appearances — on-chain data shows that long-term holders are secretly accumulating, while short-term holders are selling off frantically! This rebound might hide a big pitfall!
Technical alarms! The support at $104,000 is a lifeline (100-hour moving average); if it breaks, directly look at $103,500 or even $102,500! The resistance above is $106,500; a breakthrough is needed to open up upward space!
Potential risks are explosive! Geopolitics + Federal Reserve policies could ignite the market at any time! Spot demand has plummeted by 50% compared to peak times, and ETFs and large holders are no longer buying! If demand continues to weaken, BTC could directly drop to $92,000-$81,000!
The derivatives market is even weirder! Some traders have started to short! If the price gets stuck at the resistance level, the probability of a short-term correction is extremely high!
Trading advice:
BTC is currently priced at $106,900; go long directly! Target $108,000-$110,000, but set a stop loss!
ETH is currently priced at $2,420; aim for $2,500-$2,550, and also be cautious of risks!
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