Last night, Bitcoin and Ethereum experienced accelerated rises! Bitcoin once again set a new historical high, peaking at $124,474, and the current price is oscillating back around $121,900. Ethereum also surged to $4,788; the previous plunge allowed many to bottom-fish ETH around $3,380, and BTC fans are reaping huge rewards! Sponge reminded us yesterday that short positions were difficult to continue dropping, suggesting to take profits and hold long positions. I wonder if any fans are still holding on?
BTC
Bitcoin has already broken through its historical high. Although the daily level lacks structural support, according to the Fibonacci calculation at the weekly level, the 200% position points to $132,000, which coincides with the target height of $134,000 derived from the 4-hour cup and handle pattern. Therefore, I expect Bitcoin to reach $134,000.
Bitcoin has currently pulled back after rising to around $124,500. Today's key support level is in the range of $121,488 - $120,488, and we need to pay attention to whether it can rebound and stabilize. If the support is maintained, the price is expected to continue rising, with the first targets to look at being $125 - $126. After reaching this position, I will consider setting up short positions. If it breaks below support, the next support level is in the range of $119,188 - $118,188.
The overall daily trend still clearly indicates a bullish outlook. As long as the daily line stays above the support level of $118,000, the bullish trend will not change. In terms of operations, the strategy remains to buy low and go long.
ETH
ETH just followed Bitcoin for a pullback. After the 15-minute MACD returned to the zero axis, it rebounded, reaching a high of $4794, just 2 points short of my prediction of a $4796 peak yesterday.
ETH's recent surge was very precise, directly liquidating all the short positions above! At the high point of $4792, it liquidated $457 million worth of short positions, after which the price pulled back. This operation was incredibly targeted.
Currently, Ethereum is just a step away from its historical high, with a high probability of breaking through. The trend is similar to Bitcoin's one-sided rise during the ETF phase in 2023, with almost no significant pullbacks and relatively few buying opportunities. On August 9, Sweet Dream reminded us that the ETH monthly line golden cross is about to form, and then Ethereum began to rise rapidly. Right now, this golden cross has just begun to show signs, and the real big market movement is still to come. The strategy remains to buy on dips during pullbacks.
SOL
Yesterday afternoon's prediction for SOL was accurate, with the current bullish defense line at $194.00. The monthly golden cross for SOL is about to form, and once it stabilizes above $200, it will become a major bottom in the $200-300 range. If the ETF hype intensifies again, SOL is likely to lead as the third mainstream coin to rally.
Next, the reference positions for bulls to watch are $219, $236, and $246. If it breaks through and sets new highs, the target price will look towards $322 - $350.
altcoin
Ethereum surged to $4700, and the next 20 days will see the main rise wave. Many potentially strong coins are quietly raising their bottoms, which is a sign of market makers testing before the lift-off. It is expected that between August 15-25, there will be significant upward momentum, and from August 26 to September 10, it will enter rocket mode. This 20-day golden window period will put those who understand its implications ahead of 99% of the circle.
ETHFI
ETHFI rose more than ten points overnight, but you can continue to hold as it is still on the rise. Many are starting to catch up; Sponge has made a whopping 155% profit! The outflow of funds from Ethereum into the ecosystem is inevitable, so hold on tight.
DOGE
Sponge publicly recommended going long yesterday, peaking at 0.255, and currently pulling back after a high. Sponge made a massive 101% profit on long positions! Based on the current trend, Dogecoin may welcome a surge. The bottom of the pullback is gradually rising, and the high points are constantly being refreshed, clearly forming an upward trend. Once it breaks through the resistance at $0.26, it may accelerate upward. Remember, don't hastily short just because you see resistance; it can easily lead to being trapped.
OG
OG has been continuously rising for more than a month, up 5 times. Sponge OG13.5 has entered long positions, with the first target to see 15 and then 17! Currently, the goal for Sponge has basically been achieved. I believe those who followed along have already made a lot of profit! This blood-sucking market, Sponge can still help everyone pick out strong altcoins to earn big! You tell me, is that impressive or what! Currently, Sponge has taken all profits!
Today's wealth code
$BTH: Many people have been washed out on the KOL and front-line addresses, but the community foundation is still there, as so many big shots are involved in this project. The hourly base is consolidating between 3 to 5 million, and the daily line has already shown a bullish trend. The most important thing is that it hasn't formed a second phase yet. Right now, it's a gamble on whether there can be a second phase to regain the 10 million mark. Bottom consolidations generally last for a while before stabilizing further. If you buy, you need to hold on. The downside is 3 million; if it breaks below, just run away.
$UNI: High market share, generating actual income, and has stepped into the Web3 wave as institutions are getting involved. Recently, the DUNI proposal has legally empowered price support, so there's no reason for the price not to follow. I've seen several big players in the crypto world have already built large positions, and today there's finally some indication of a kick-off.
$PEPE Coin: Short-term performance is weak, but there is a possibility of forming a cup and handle breakout, with a target possibly reaching 0.000015.
