Bitcoin has been fluctuating around 106,400-108,200 recently. Yesterday, I mentioned in the article (Bitcoin is expected to soar to 108,000! Can we chase the high? Ethereum Foundation sells coins, Ethereum plummets? Bitcoin bull market, how can retail investors profit?) to short near 107,700, with at least a few hundred points of profit. Now, I am enjoying a good life! For those who haven't profited yet, I will guide you in planning.
BTC Bitcoin has not created a higher high after breaking through the short-term supply line, but has instead formed lower highs and lows, indicating a possible entry into wave C of a decline. However, a strong rebound has occurred near $106,500, and the volume during the pullback is relatively small, indicating that buying pressure still dominates. This suggests that the downside space is limited, and the probability of continuing to rise next is relatively high.
Bitcoin's daily chart has reached a very critical resistance position. Every time it hits here, it results in a different degree of pullback. On December 18, January 20, May 22, and now, it took a full eight months to break through the previous cycle's daily chart. The next week will be the turning point.
Whether Bitcoin can successfully break through the previous high still depends on the volume and price performance in the area of 10.8-11.2. In fact, there aren’t many trapped positions in this resistance area, mainly depending on whether the buying pressure is sustainable. If it breaks through 10.8, it will directly aim for a new high; if it doesn't break, it will continue to test $100,000!
ETH
Yesterday, Ethereum performed strongly, breaking the downward trend line and entering a consolidation range. From a smaller timeframe, there is an expectation of forming a head and shoulders bottom. If it stabilizes above $2,510 (close to the lower edge of the ascending channel), the head and shoulders bottom will be confirmed, potentially pushing the price to a new high.
Currently, it has only broken through the downward trend line, and the direction is still unclear. The intraday resistance is at 2480. Take profit before the resistance. After three consecutive days of rise, Thursday and Friday will be volatile, with opportunities for both bulls and bears, but the bears are not strong for now, focusing mainly on low longs, retreating to advance. The ideal entry point for Ethereum's pullback is around $2,300. If it falls below $2,200, the upward trend may end.
SOL
SOL has rebounded slightly in the smaller timeframe following the overall market, but the overall trend is still within a descending channel, temporarily not having the conditions for an independent trend. Therefore, it still follows the main market. If the smaller timeframe continues to rebound, pay attention to the upper edge line of 146-148. Only by breaking through this range can there be a chance for a reversal and an independent trend.
The big opportunity in July - SOL spot ETF approval
Ethereum's spot ETF has passed previously, capturing the last 4h long signal, so after entering July, every long signal for SOL must be followed.
ETH has also previously broken through the daily descending trend line, and SOL is currently the same. If it doesn’t break through the trend line, it can still be entered.
The probability of the polymarket passing through SOL before the end of July is currently 47%. Previously, it was mentioned that approval would be obtained within 3-5 weeks. If approved with staking, then JTO should also be entered.
Altcoin
The recently launched new coins SAHARA, NEWT, HOME, H... all hit the highest price shortly after going live. BANANA31 spot + contract combination has been continuously pumped for several days, and then a line dropped down! This malicious behavior has appeared repeatedly, and everyone knows who is behind it. However, Binance ignores this behavior, and more project parties will choose this method!
There is also TUT, if it falls, it should be the same. If it rises too much, no one buys, but instead, there are selling pressures and short sellers. Under such emotions, the main player can't pull up the market, they can only wait for the market to take off, to drive everyone's emotions, only then will the altcoins dare to rise. We still have to hold on, the Iran issue is still ongoing, and I hope everyone can reach the other shore.
Today's article ends here. In the upcoming bull market, I will guide everyone to target the wealth opportunities of altcoins, with expected gains of more than 10 times being no problem.