Bullish strong breakout, trend reversal signal clear
On Friday evening, driven by positive news, the market saw a strong surge, with Bitcoin peaking at the 117388 level, while Ethereum surged to the 4859 level. Although Lao Hu provided a bearish outlook during the day, he had previously indicated a key trend reversal signal in the analysis. When Bitcoin stabilizes above 114500 and Ethereum above 4340, it signifies a trend shift. Therefore, as the market breaks through key levels, Lao Hu positioned long trades accordingly, ultimately allowing Bitcoin to gain nearly 3000 points and Ethereum to capture over 300 points of movement. #BTC #ETH
From an overall market perspective, the bearish structure built during the previous downtrend was completely dismantled by a strong bullish candlestick with significant volume, whose solid body penetrated multiple resistance moving averages, directly ending the downward momentum; after the breakout, the price retraced, with the low not breaking below the lower edge of the bullish candlestick body, and the reduced volume adjustment revealing exhausted bearish selling pressure, confirming the bullish structure of "breakout + retracement." From a pattern perspective, the downtrend has concluded, and if another bullish candlestick forms after the retracement, it will initiate the standard main rise rhythm of "breakout - retracement - second surge." In terms of strategy, if a retracement occurs, one can consider positioning long trades.
Trading Suggestions
Bitcoin around 116000—16500 can be bought, targeting 118500
Ethereum around 4780 can be bought, targeting 4900