The price is currently above EMA(7, 25, 99), and EMA(7, 25, 99) forms a standard bullish arrangement.
The last two bullish candles have larger bodies, indicating strong buying power.
Has broken through the recent resistance level of $123,000, indicating a possibility of short-term upward momentum.
Also above EMA(7, 25, 99), and the moving averages are in bullish alignment.
In the last 5 trading days, bullish candles have dominated, and after breaking through the previous high of $4,700, it continues to rise, approaching the historical high region.
2. Trading Volume
The trading volumes of both cryptocurrencies significantly increased during the recent breakout, indicating that the breakout is not a 'volume-less rise', but rather supported by capital.
The increase in trading volume for BTC is more significant compared to ETH, which may mean that funds are more concentrated in BTC.
3. MACD
The DIF of BTC and ETH has significantly crossed above the DEA, and the histogram continues to expand, indicating a strengthening bullish momentum signal.
This pattern typically does not reverse immediately, and there is still room for short-term upward momentum.
4. Short-term Resistance and Support
BTC
Short-term Resistance: 124,500 - 125,000 (psychological round numbers)
Short-term Support: 122,000 (top of the breakout platform)
ETH
Short-term Resistance: 4,800 - 4,800-5000 (near highs and psychological round numbers)
Short-term Support: 4,650 (breakout level)
5. Trend Summary
Trend Direction: Short to medium term is bullish, with strong momentum.
Short-term Risk: If entering a long position at high levels, be wary of rapid pullbacks.
Operational Strategy:
Long position holders can set a trailing stop for profit taking.
Those holding cash are waiting to enter at support levels, avoiding blind chasing after a large bullish candle.