Last night, the CPI data was favorable. Bitcoin surged to 120,000, and Ethereum skyrocketed to 4600, just 200 points away from the historical high of 4868. This week is expected to break 4868 and set a new historical high. Sweet Dream’s ETH long position bottomed at 3686 has been held. Yesterday, the idea for Bitcoin was to attempt a short after peaking at 120K following the data. Yesterday's trend was as expected, successfully reaching above 120K. The current price is 119350, with a slight profit. I feel it won’t drop temporarily.
BTC
BTC tested the upper edge of the downward trend line yesterday and supported the rebound at FIBO 0.5 + encountered resistance in the previous consolidation area.
Withdraw. Currently, we can see that bulls are actively participating, but the subsequent volume has not kept up, indicating that more funds hope to buy at lower positions.
The short-term support to watch next is 118000. If this area holds, it can continue to rise and test the pressure level above 122000.
The next support level is in the range of 116-1173, which is very important support. The cost-performance ratio is still good, and I will choose to enter a long position here.
ETH
After ETH broke through the range, it entered a strong upward trend. Currently, there are no major signs of a pullback in the overall market. The daily level expansion of the large trumpet pattern has been broken and stabilized. As long as it doesn't fall back into the trumpet pattern, there will be no chance to touch the lower boundary of the trumpet pattern again, and the risk of a sharp decline has been lifted.
Currently, Ethereum has stabilized at 4440, with 4160 becoming the bottom, and it has a smooth path to 4796 (with a short pause around 4666-4720, generally providing an opportunity to add positions).
SOL
A few days ago, Sweet Dream had everyone layout to bottom out SOL, leading to a big surge. Congratulations on the profit, quite steady! A good amount of u is in hand.
Today is all about weak adjustments, and pullbacks are all opportunities to add positions. The SOL\ETH exchange rate shows a bottoming pattern in one hour. If ETF speculation continues, SOL is likely to lead as the third mainstream coin.
If SOL breaks through 196.5, chase the rise directly. If it doesn't break 195 today, it means today's intraday pullback's lowest point will be the starting point for the next small wave. Therefore, the highest point of 206 on July 21 will be broken. The offensive and defensive strategy for today is very clear.
Altcoin
The trade war has settled, interest rate cut expectations have begun, and the super bull market is here. After BTC rises, ETH will rise, with ETH reaching a new high near 4800. Next, mainstream coins will rise in rotation, and the altcoin season is starting!
chillguy: You can chase a long position at the current price around 0.06u. The pattern is in a descending wedge, near the first high point. Currently, it shows a continuous upward trend, and the probability of a breakout is quite high. Therefore, as long as it breaks out, there will at least be a wave of accelerated upward movement. A small position can be chased for a gamble.
OKB: Currently, the market cap still has three times the space. The initial empowering benefits have indeed led to a price increase, as it has been stagnant for many years. However, the continued growth of market cap valuation still requires tangible actions. It’s worth looking forward to.
From the current trend of OKB, the pattern is quite stable. If it can maintain this momentum in the future, considering the overall market environment and its own ecological development, it may rise to 200 or even above 300. The possibility seems significant.
BGB: Among platform coins, BGB hasn't made moves yet, but it's expected to be soon. I am optimistic about BGB. This round must align with the keywords of compliance, coin stocks, and capital. One must grasp coins or narratives bound to these three keywords, as they will be the main theme of this round of altcoins. Platform coins are companies, operating entities with empowerment, strong applicability, and reliability. Hold them and let the platform work for you.
vine: You can directly enter the spot market at the current price of 0.7, just reserve a position to add! The profit target is first set at 0.15 then at 0.3! Vine is one of the coins frequently hyped by Musk, and each time it can rise by 100% or even higher. It is very likely to be hyped again, and looking at the trend, it’s oscillating and very likely to start a V-shaped recovery.
