$BTC Yesterday, Trump announced that cryptocurrencies would be included in the 401k retirement plan, and the market rebounded significantly. Currently, the daily line has recaptured the EMA20 line near $115,000. Yesterday, Sweet Dream mentioned in an article that the small-scale structure of Bitcoin and Ethereum shows positive signals. It has formed a clear upward channel. Sweet Dream bought Bitcoin at $112,100 and Ethereum at $3,386 during the crash last Sunday, and has been holding them ever since. Fans who bought at the bottom according to Sweet Dream's article strategy on Sunday have made a significant profit.
BTC
Bitcoin has made a very strong breakthrough, temporarily escaping danger in the densely traded area/4H rapid gap. To completely get rid of danger, the price needs to break 118,900.
Currently, Bitcoin is facing resistance and retracement in the oscillation zone. Do not chase the rise; for those without long positions, wait for a pullback to the 115.6k-116k support level before entering.
1) The 4-hour level has broken the 116,000 resistance that has held for a week, establishing a double bottom pattern, with a theoretical target at 119,500.
2) From a short-term perspective, the upper pressure levels are 1,177-1,189, where the 4-hour and trend line pressures overlap, presenting a shorting opportunity.
ETH
ETH has performed basically as expected. Under multiple positive stimuli, ETH rebounded from 3,350 to 3,900 in just 5 days, directly breaking through the important 4-hour Bollinger upper band resistance. It has now reached over 3,900, very close to 4,000.
Now it has reached a resistance level again. If it stabilizes above 3,660 in the short term, we can see 4,000 broken. If it holds above 3,800, we can look at the next big wave in the 3,800-4,880 range. In the short term, if it gets near 3,968-4,068, it may consolidate for a bit before accelerating upward.
What everyone needs to focus on now is whether this is forming a right shoulder pattern or a three-wave upward correction. If Ethereum holds without a deep pullback, the weekend will be an opportunity for altcoins. Prepare early, protect your positions, and hold on tightly; opportunities are fleeting, and don't miss out.
Reason for the surge
1. Yesterday, Trump announced that American pensions could invest in the crypto space.
2. Major US stock companies are frantically increasing their positions in ETH and BTC.
3. The US will lower interest rates in September due to terrible labor data, with a 90% chance of a rate cut.
These three reasons combined indicate that there will be a continuous influx of funds into the crypto space. A crazy bull market is definitely coming in September, and those who are not on board should hurry.
Altcoins
Ethereum surged to 3,900. Altcoins are also starting to stir, with some coins already moving, with single lines showing growth of 30%-50%-80%. Bitcoin and Ethereum have risen so much, and after a pullback, they have started to rally again. Altcoins will definitely take the opportunity to rally as well, whether to break even or to cut profits; they will all rise. If Ethereum continues to rise here, then altcoins will generally follow suit and rise by 10% or more. In the past few days, Sweet Dream has publicly recommended 4 or 5 altcoins.
(1) $tree
0.407 directly entered to go long, making a profit of 277.32%, with a single large bullish candle. Fans who followed should take profits in batches or set stop-loss.
(2) a2z
a2z was basically positioned at the low, and in one night the growth exceeded 100%, achieving a doubling coin. Sweet Dream opened 20x leverage, making a profit of 1033%! With just a few hundred US dollars, you can earn a few thousand; it's very stable.
(3) DOT
Yesterday, Sweet Dream promptly reminded that DOT reached an oversold signal, which can be a focus. In the past few oversold situations, there have been profitable rebounds. Sweet Dream opened a long position at 3.687, making a profit of 440%.
(4) TOWNS
This morning, Sweet Dream reminded to buy TOWNS on the pullback at 3,155. As expected, it pulled back, making a whopping 247%. BTC is good; it might pretend to be very strong, but it will continue to surge.
(5) PENGU
PENGU is the altcoin that Sweet Dream is most optimistic about recently. On Monday, it was positioned at 0.035, making a profit of 398%. It can be held a bit longer, aiming to take profits above 0.40.
The difficulty of operating in the current bull market is much greater than in previous bull markets. In the past, you could just hold on and see the new altcoins rise by at least 3 to 5 times; it was easy to make money. In the current bull market, everything seems to be rising chaotically, but you just can't make any money. You earn a little, and then it quickly retraces and takes it back. It forces you to stop-loss.
In this bull market, my strategy is no longer to just hold on. I keep taking short-term trades, and I no longer focus on one or two targets. I take a bite and then leave, re-entering after a pullback. In one word, it's about survival. I have to monitor the market every day, assess price levels and position allocation. I don't aim to take all the coins.
