After yesterday's surge, the price of the currency has once again broken through the previous high point. Currently, the price is oscillating at a high level around 108600. However, the price has now risen close to 109, and there is no need to chase further. Although we have been bearish throughout last week, we still followed the trend last night as the situation turned upward. We entered a long position at 107389 and successfully captured a space of 1219 points at the level of 108608.
From a technical perspective, the daily line has once again shown consecutive bullish candlesticks, with a brief pullback in between before continuing to oscillate upward. We are currently observing whether it can break through and stabilize above the 109 resistance level. If it breaks through, there is a possibility of reaching 110,000. Looking at the four-hour chart, the price has risen with consecutive bullish candlesticks, and it has already broken through and continues to operate above the upper track. The bullish momentum remains strong, and the moving averages continue to rise while oscillating upward, consistently breaking previous highs. The market still has the momentum to continue breaking through, but the resistance at the 109 level is quite strong. In the short term, after repeated consolidation, the price has once again broken through the previous high point. However, if it cannot effectively break through in the short term, a quick pullback is inevitable.
For Bitcoin, short at around 108500, watch for 107000. For Ethereum, short at around 2520, watch for 2450.
