$ETH Protecting the principal is the top priority; profit is just a byproduct. The market always has opportunities, but the principal is only once. Stopping losses is not admitting defeat, but rather a way to survive longer. Greed can lead you to profit, but it can also lead you to a margin call. Don't act impulsively because you missed an opportunity; the market will always present another chance. Stay cautious when in profit and remain calm when in loss. The bullish trend continued strongly over the weekend, without a significant pullback, with Bitcoin dipping to the 116611 line before the bulls started to rebound. Last night, it once again broke new highs, reaching a new historical peak, hitting as high as 119655. Ethereum firmly held the 2900 mark over the weekend, and last night saw a rise, reaching a high of 3019. Last week, we firmly maintained a bullish outlook, and all the strategies provided at the beginning of the week have been validated and executed, leading the students who followed to achieve significant returns.
From the current market perspective, the weekly chart shows a strong bullish candlestick closing high, with the candlestick being full, and strong volume at high levels, forming a three-day bullish trend. The upper band of the Bollinger Bands is open and rising, continuously refreshing historical highs. The short-term pullback is relatively limited, with quick retracements and recoveries. The daily chart shows a continuous upward trend, which will likely extend at the beginning of this week. After a rise in volume, it will transition to a slow upward trend and then slow down; the last pullback to the low point around 116600 will convert into a short-term support level, which is also the support point for the beginning of this week. The four-hour chart shows a strong rally from the 116600 level, with a quick recovery of lost ground and new highs. At the beginning of this week, the old highs are expected to consolidate sideways before further continuation. Thus, in terms of operations, the rhythm of the upward trend after increased volume will switch relatively quickly, with larger fluctuations. The main strategy remains to wait for a pullback before entering long positions.
On Monday, Bitcoin can be bought around 118000, with initial targets focusing on 120000-122000.
Ethereum can be bought at 2900-2930, with initial targets focusing on 3050-3100.
