Last night, Bitcoin and Ethereum surged! Bitcoin skyrocketed to 114474, setting a new historical high! Ethereum reached a maximum of 4793 USD, just under 100 points away from its historical peak of 6868. In the last 24 hours, a total of 105,096 people were liquidated globally, with a total liquidation amount of $423 million. Recently, Right Right has been emphasizing not to short, but to buy on dips, firmly bullish on Ethereum. Fans who dared to follow Right Right and chase the rise have made a fortune; Right Right made over 6000 oil on this trade and fully took profits.
BTC
Bitcoin broke a new high in the early morning, reaching a price of 125,000. Currently, both the accumulation of spot and contract Bitcoin are good, especially spot funds have been slowly climbing, which indicates that the upcoming market will be relatively stable. This round is led by spot markets, so it’s different from previous contract-led rallies.
Wall Street institutions, along with previous major players, have pushed the market up. The current accumulation of funds can create another wave of good market conditions, with a target of 130,000 to 140,000 worth expecting. Bitcoin's hourly flag pattern has been broken; if Bitcoin can stabilize above 124545 and consolidate above it, the next target position will be 126807.
Currently, the focus should be on buying on dips, with shorting as a supplement. Today, Bitcoin is expected to oscillate in the range of 124545-122168 during the day. If it breaks below 122370 on the 4-hour level, it will look down at 121791-120612. If it does not fall below 120612, Bitcoin will remain strong.
ETH
Ethereum has risen to a high of 4783, less than 100 points away from its previous high, and there has not been large-scale selling pressure. The probability of continuing to rise and breaking through the previous high this week exceeds 90%.
ETH held support around 4612 last night, and continued to push up by 47 points in the latter half of the night. 4612 + 47 = 4659, and 4660 is about to stabilize. The attack on 4800-5000 is within reach; Ethereum’s new high is imminent. Today, Ethereum can again go long at the pullback of 4706. The short-term defensive line for bulls has moved up to 4600. As long as this does not break, continue to attack!
Bitcoin's market share fell below the trend line and rebounded on August 10 and 11, then continued to decline, further confirming the downward trend. It has now fallen below 60%. It seems that the altcoin season is really coming!
ARB: After completing a W bottom, it has broken out of the bottom oscillation range with volume, giving a clear signal for an upward movement. In the context of the upcoming altcoin season, after Ethereum breaks through its ATH, it is expected to rise near the pressure point shown in the chart (1.2).
GTC: Enter a long position at the current price of 0.424, with a stop loss at 0.38! The upper take profit target is first set at 0.5 and then at 0.53. The smaller level has stabilized, and the next step to reach a secondary high shouldn’t be a big issue! Charge!
PUMP: Enter a long position directly at the current price of 0.00404, with a stop loss at 0.00375! The upper take profit target is first set at 0.0045! Then at 0.0048!
RESOLV: A new coin in the stablecoin concept; this coin is clearly being controlled. Enter with a head position at 0.18. If it drops, just buy; missing out is worse than being trapped. Additionally, something big may be coming soon! Also, do not go all in on any single coin. Apart from Bitcoin and Ethereum, do not use all your capital, as a drop would leave you unable to average down. I recommend that if there is a spike, you don't necessarily need to jump in immediately!
Cryptocurrency is becoming increasingly legitimate, and there are still significant opportunities in the coin market over the next decade. However, the kind of bull market opportunities that everyone can grasp is basically gone. Institutional funds will wash you out, and you can only lose money, so trading in waves is the best choice. Make a profit and leave, and wait for the next opportunity.