Last night, Bitcoin surged by 120,000 USD, and Ethereum surged by 3,468 USD. Yesterday, Tiansweet mentioned in an article (Bitcoin's drop rebounds by 108,000, is the correction over? Ethereum is going crazy! Hot money is flooding in, these coins will definitely rise! Will you dare not follow this trend?) that Bitcoin's 4-hour resistance was around 119,500. If it doesn't rebound past this point, there will be a short-term short opportunity. If it breaks through here, there will be no need to test 115000. Tiansweet suggested opening a short at 119500, which has already made a profit of 1000 points; take profit and exit, don’t be too aggressive in shorts.
BTC
Yesterday, Bitcoin once rebounded to 120,000 USD, but the rebound volume was relatively low, and it closed below the middle position of the K-line, indicating that buying pressure is still relatively weak. So Bitcoin may continue to consolidate downwards, but the short-term downside space is limited; it should be able to find support at the upper edge of the support box, with support levels at 117,700, 116,000, and 115,000. If it doesn't break below 115,000, consider not chasing shorts; a break below 115,000 might weaken the market.
In short, the market is in a consolidation pattern. Currently, Bitcoin stabilizing at 118500 looks towards [121300-121800]. If it effectively breaks below 115000, it looks towards [112500-113300]. If the pullback support holds, consider going long.
Is Bitcoin's consolidation good for everyone?
At this time, Bitcoin consolidating in the range of [117000-119700] is the best, as the pullbacks and rallies of Ethereum and SOL are controlled by Bitcoin's consolidation in this range. After Bitcoin breaks through 123300, it will suck up again, and the rise of Ethereum and SOL will be slightly weaker than currently.
So after Bitcoin reaches a temporary high, it first pulls back and then consolidates slowly upwards, which is good for other coins. Because Bitcoin is currently waiting for Ethereum and SOL to catch up. Once they are nearly caught up, Bitcoin will pull to new highs.
ETH
Ethereum's price has strongly broken through the upper bound of the weekly K-line resistance, standing above it, with no signs of weakening in the indicators, indicating a strong bullish direction. Ethereum's short-term target is at 3600, but the buying power for Ethereum ETFs is stronger than I expected, so the short-term target for Ethereum needs to be adjusted upwards accordingly.
According to Evgeny Gaevoy, the founder of market maker Wintermute, ETH is nearly sold out on Wintermute's OTC platform aimed at institutions and large holders. It seems that the probability of Ethereum breaking through 4000 in July is quite high.
Will Ethereum crash again?
There is a gap in Ethereum's CME futures at the 2925 level. Personally, I expect that only after the price reaches at least 3500, or after a significant increase, will there be a slight possibility of filling that gap.
In summary: The effective support for Ethereum on the intraday short line is [3390-3400]. If it effectively breaks below 3365, there is a chance the market will undergo significant adjustments. Besides that, it’s all about rising; if there are adjustments, continue to go long.
Altcoin
In the past two days, some altcoins have taken off first, such as SOL, BOME, BONK, MOODENG, etc. These coins have been recommended in Tiansweet's articles to varying degrees. Fans who followed Tiansweet's layout have made significant profits. Next, Tiansweet will share a wave of coins that are waiting to rise in the community, so everyone can pay attention.
Yesterday, Tether just issued an additional 2 billion USDT, and today it issued another 1 billion USDT! And the issuance location is no longer on the Tron chain, but all on the Ethereum chain. In just two days, 3 billion USDT was issued, indicating that even with such a significant rise in the crypto world, there are still people entering the market. The altcoin season is upon us, familiar scents are in the air, and Tiansweet hopes everyone becomes immensely wealthy!
Will these coins skyrocket?
XRP: Among the top ten by market cap, XRP is still performing the best. You can consider accumulating a bit during dips. The positive news for the second half of the year includes: 1) SEC dropping the lawsuit; 2) approval of a spot ETF; 3) receiving a national trust bank license; 4) Fed main account approval; 5) Ripple IPO.
WIF: The price has been in an upward channel, but there has yet to be an acceleration in the daily level; it’s just a slow rise, still lacking a wave of acceleration. Therefore, you can consider buying in around 1u when it retests the lower edge.
Ethfi: Overall in an upward trend, short-term price breaks through the range of consolidation, beginning to pull back upwards. Therefore, you can consider gradually buying in the range of 1.3-1.27, with a stop-loss set around 1.2u. There might be an acceleration in price increase, and once ETH stabilizes at a high, it will provide opportunities for other altcoins to catch up.
