Bitcoin's price has not changed much, fluctuating around 116600, while Ethereum has taken off, surging to 4200! Yesterday, Sweet Dream mentioned in an article: 'If ETH stabilizes above 3660 in the short term, it could break 4000. If it stabilizes at 3800, we can look at the next big wave from 3800 to 4880, a thousand-point space. If it reaches around 3968-4068, it might grind a bit before accelerating upwards.' Sweet Dream bought ETH at 3386 and made a significant profit.
BTC
Bitcoin is currently retesting the 115.8 support level. At present, on the 2-hour level, it is forming a triangular pattern and has tested the upper boundary of the triangle twice without breaking through, indicating significant pressure at the upper boundary, corresponding to a price of 117395. Currently, Bitcoin's highs are decreasing, and if lower lows appear, Bitcoin will need to pull back.
Within the triangular pattern, there also appears a bullish flag pattern. The bullish flag pattern, the yellow acceleration line, and the red neck line form a resonance. If it breaks below, everything will break, especially if the red neck line cannot be recovered in time, it will test the lower boundary of the triangle.
Currently, 116067 is the dividing line for bullish and bearish in Bitcoin's recent rally. If it breaks below, Bitcoin will start to weaken. Pay attention to the gains and losses at 116067!
Resistance above: 117023-117813-118731
Support below: 116067-115138-114209
ETH
ETH surged, now breaking through the important resistance line at 4100u. It has been emphasized that as long as this level is surpassed, there is a high probability of breaking the historical high. In the short term, attention can be paid to the 4800 resistance line; it could reach near the historical high in a few days.
Can ETH break its previous high?
(1) Pension funds entering the market
Trump signed an executive order allowing cryptocurrency to be included in 401(k) pension plans and the spot ETF surge, directly boosting the market. The current investable scale of 401K is about 9 trillion USD, while the current scale of the spot ETF is 60 billion USD. If 1% of the pension funds flow in, it would be 1.5 times the size of the spot ETF. However, the most impressive point about pension funds entering is that this money is truly held by diamond hands, staying for decades.
(2) Federal Reserve rate cut
The U.S. Department of Labor reported that as of the week ending August 2, the number of initial jobless claims in the U.S. was 226,000, higher than the expected 222,000 and the previous value of 218,000. This leans towards favorable conditions, increasing the probability of a rate cut in September. Current data shows an 88.9% probability of a rate cut by the Federal Reserve in September. As long as Powell doesn't act out, the rate cut in September is almost a certainty.
(3) Monthly golden cross
Currently, Ethereum has a monthly golden cross. The new shoots are just showing, and if we compare this to the rally from the end of 2020 to 2021, just buy on dips until ETH shows signs of stagnation on the weekly level.
What to do if you missed the surge in ETH?
① Make short-term gains on small coins related to the ETH ecosystem
Pepe is expected to rebound to around 0.14, and ENA to around 0.78. If there is a pullback, it can be a good entry point.
Altcoins
Ethereum surged to 4200, and altcoins have started to rise crazily. The Sweet Dream community has also been working on altcoin rebounds these days, positioning FIO, SYN, EIGEN. Previously, Sweet Dream advised fans to buy dips on pepe, doge, pengu, and ltc, and they are all skyrocketing.
(1) FIO
Sweet Dream 0.017, publicly recommended, casually profiting around 40-50 points, ranking first in growth. Sweet Dream's HeYue made a profit of 313%, and fans who followed made significant profits.
(2) SYN
SYN has also been publicly shared with everyone. Sweet Dream made a profit of 2786 oil, and SYN has been well handled, with account balance continuously increasing! Comfortable!
(3) EIGEN, SANTOS
EIGEN entered at 1.175 and has now taken profits. Short-term gain of 10%. Fan coin SANTOS rose by 13%. Today, the volume doesn't seem sufficient, so I took profits early!
(4) pepe, doge, pengu, ltc, ena
During last week's crash, Sweet Dream advised everyone to buy the dip on pepe, doge, pengu, ltc, and ena. Those who followed Sweet Dream's advice made a significant profit. Those who missed the dip can wait for a pullback to buy a bit, and those unsure can ask Sweet Dream.
What altcoins can still be positioned this week?
Naoris: The price shows a descending wedge, and the price is beginning to rebound. There could be a wave of accelerated growth at any time. The code has good cost-effectiveness, so you can directly buy around the current price of 0.034u, leaving room for additional purchases. This type of coin tends to have large fluctuations, so set a stop loss around 0.03u.
Towns: The price is low, and it could start to surge at any moment. Just be patient and wait. The defense position is 0.03u. Once it breaks through, the price will at least reach 0.05 or even surpass the new high. This coin often deceives, so don't get shaken out; wait for a wave of explosive growth!
AAVE, PENDLE, ENA: Ethena, Pendle, and Aave are forming a triangular model of bubble TVL. Through circular lending, 1 USDT can be cycled into 10x through minting usde->mint pt->deposit pt->borrow usdt->mint usde, turning into a 10-dollar deposit. At the same time, this 10-dollar deposit exists in the TVL of these three protocols, effectively turning 1 dollar into a 30-dollar deposit in these three protocols. They have a competitive edge and can quickly create large bubbles. The ability to rapidly create large TVL, regardless of its authenticity, is a valuable skill. This can quickly attract investors who notice the protocol later to come in and take over.