Today, the three major U.S. stock indexes closed higher, with gains exceeding 1%. The S&P 500 Index and Nasdaq reached new historical highs. The latest CPI data reinforced market expectations for a rate cut by the Federal Reserve in September. That night, BTC broke through 120,000, and ETH broke through 4500 to enter a new range of fluctuations. The main players have already taken action, and the market has become this strong; it just needs the market's fire to be reignited!
In the last 24 hours, a total of 116,803 people worldwide have been liquidated, with a total liquidation amount of $519 million.
BTC
Bitcoin is currently fluctuating around 119,000. The box drawn in the hourly chart has been broken, but the rise could not be sustained, and now it is retracing to the upper boundary of the box. As long as it does not fall back inside the box, Bitcoin will continue to fluctuate around 119,000.
Falling back inside the box, the lower boundary of the flag must be broken. Bitcoin has started to weaken again, and the range of 119191-118179 may not be able to hold, likely to be breached. If it falls below 118179, Bitcoin's decline will begin.
Short-term support: 118,000. If this level holds, it can continue to rise and test the resistance level above 122,000.
Second support: the 116-1173 range; this is a very important support level, and the cost performance is still acceptable. I will choose to enter long positions here.
Ethereum
From the weekly perspective, Ethereum has continuously surged with large bullish candles, successfully breaking through all moving average resistance, showing a bullish trend. A large part of the locked positions from the last bull market has been unlocked, and it is less than 300 points away from the historical high, just 6%. This move is obviously aiming for a historical high, and ETH is bound to break 4900 and reach new heights. Hold onto your spot positions.
Currently, Ethereum has bounced back to the 15-minute Bollinger Bands lower band at 4562, which seems to have provided support, and the pullback has ended. If it breaks through 4588 again, you can directly re-enter the market. The target is aimed at 5000. In the short term, 4666-4720 needs to be consolidated. Ethereum has not shown signs of topping yet, but after this round of increase, there will be a correction greater than 20% (over 1000 dollars).
Altcoins
The altcoin season has finally arrived. A group of altcoins, under the leadership of ETH, is starting to slowly dance in chaos. It cannot be said to be a frenzy yet, but it is gradually tending towards madness. However, it is also the end of the bull market, so everyone should seize this time of rise.
Many people are laughing; during the altcoin season, shouldn't the increases be 5-10 times? Why is it only 30-50 points? This moment is different from the last. This round of the bull market is only performing in BTC and ETH. Even Wall Street's darling, SOL, has been performing mediocre recently, let alone Doge, which is being manipulated by Musk; it is still lying flat at the bottom.
Will it rise? Yes, it will rise. How high? At most, it will be as high as the last peak.
Sister Meow wants to say that when altcoins fell yesterday, Pepe was relatively resilient compared to other meme coins like XRP, Doge, Bonk, and Pengu. This is because Sister Meow's cost for Pepe is low enough, and the position is large.
When meme coins take off, it is normal for Pepe to rise by 40 to 50 points in a day, so I hope everyone gives Pepe a little patience. It hasn't stopped rising; it just hasn't stood out. That doesn’t mean it isn't gaining momentum. Sister Meow has previously said that for those with heavy positions, take partial profits at 1400 and 1632.
Altcoins shouldn't be too ambitious. Because when Bitcoin and Ethereum fall, altcoins will also decline. It's best to take profits when you see good results.
But to add a point, the closer we get to the end of the bull market, the less frequently we should change positions. The rise of SOL proves that sectors will rotate; it won't just be a bull market for ETH alone. The market requires time to wait for opportunities. You just need to maintain diamond hands; this round will definitely yield significant results in the bull market!
On-chain
Brothers, get ready for battle; the epic golden dog should be coming soon!
Bitcoin has climbed back to 120,000, and ETH is about to break new highs. The bull market has arrived, and the breakout effect of Bitcoin is about to reach its peak, leading to a rush of outside funds entering the market.
But this bull market is different from the past; there are no technically supported innovative projects or valuable sectors in the market to sustain the flow, which can easily lead to capital outflow. In such times, meme coins are the best choice to attract capital resonance.
Recently, low-cap coins on the SOL chain have started to continuously increase their ceilings, and million-dollar market caps can be seen everywhere, with an increasing number of ten-million-dollar golden dogs. The funds are clearly more active than before, but there is still no concentrated narrative with over a billion.
Although the ETH chain does not move as quickly as the SOL chain with many low-cap coins, as $ETH continues to break through, some old coins are starting to try for a bottom rebound, and the market cap ceiling of new coins is also rising. Even the dead cat $GASS has pulled up 4 times in two days; it just needs a golden dog to drive the rhythm.
