Good afternoon, brothers. Bitcoin has broken a new high. If the capital were still there, that would be great. This is the most genuine thought of many brothers! Last night, the market surged significantly, and Bitcoin once again broke the historical high, reaching 112036. In contrast, other coins, 99% are still at the bottom. Take Ethereum, for example; it hasn't even broken the major resistance level of 2850. So many people are optimistic, why hasn't it risen? Where are the people who keep praising Ethereum? I, Old Zhang, keep praising Bitcoin and BNB, and at least I haven’t disappointed the brothers!
Last night's live broadcast had decent content, discussing that there would be a significant market movement in the coming days. I didn't expect a surprise for everyone overnight. Of course, for many brothers, it was a shock since those who had never experienced a bull or bear market were still shorting, and some were even holding shorts. Last night, I mentioned that shorts could be placed at Bitcoin's previous highs of 1119 or 1105. Fortunately, it dropped after reaching the previous high. Even if shorts were placed at these two positions, averaging down would still yield profit. I did not disappoint the brothers who trusted me!
Bitcoin's recent rise has reached the previous high again. If you don't have long positions, don't chase it anymore. Looking at the previous waves, every time the daily level rises to a top, there has been a drop of more than 10%. I don't know if this time after reaching a historical high it will correct. If you've missed it, don't chase; wait for a correction. There is no market that only goes up without going down!
For those who like to play altcoins, keep an eye on Bitcoin. As long as Bitcoin is consolidating at the top, altcoins will catch up. You can try to go long (not recommended unless you're quick). If Bitcoin starts to correct, then altcoins will bleed heavily, and that will be a great opportunity to short!
Today's market analysis:
$BTC The Bitcoin is currently consolidating at a minor top. Today, pay attention to the bottom of the consolidation at 1105. As long as it does not break this position, the market will not drop further. To the upside, we will look at the previous high of 112030. If it cannot break through, it will still drop again; if it breaks, we will see how the market feels!
If it breaks below the bottom of the 1105 consolidation area today, the 2-hour level will start to correct. Watch the support levels near 119685-108685-107440!
$ETH Pay attention to the 2760 position for Ethereum today. As long as it pulls back and does not break this position, all levels are bullish, and it will continue to rise. Watch the resistance levels near 2797-2840-2880!
If it pulls back and breaks below the 2760 position today, the 1-hour level will start to correct. Watch the support levels near 2730-2691-2661!
$BNB For BNB, pay attention to the 669 position today. As long as it pulls back and does not break this position, all levels are bullish, and it will continue to rise. Watch the resistance levels near 674-679-685!
If it pulls back and breaks below the 669 position today, the 1-hour level will start to correct. Watch the support levels near 666-661-657!
For SOL, pay attention to the 155 position today. As long as it pulls back and does not break this position, all levels are bullish, and it will continue to rise. Watch the resistance levels near 160-163-167!
If it pulls back and breaks below the 155 position today, the 1-hour level will start to correct. Watch the support levels near 152-150-148!
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