Last night, Powell suddenly made dovish remarks, hinting at possible rate cuts in September, leading to a significant increase in the probability of rate cuts, breaking previous highs! As soon as this news came out, Bitcoin (BTC) and Ethereum (ETH) surged, with Ethereum even breaking its historical high!
In the past 24 hours, a total of 182,819 people globally have faced liquidations, with total liquidation amounts reaching $770 million! However, Mian had emphasized multiple times in previous articles to seize the opportunity to bottom-buy before Powell's speech, resulting in fans who followed Mian to bottom-buy earning significant profits! The bottom-buying after this wave of crash was simply a definite big opportunity.
BTC
Bitcoin (BTC) rebounded strongly after signaling interest rate cuts last night. The current daily chart shows a large bullish candlestick, indicating a significant influx of capital for bottom-fishing and market support. A MACD golden cross has formed, suggesting a continued demand for rebounds. However, BTC currently faces resistance from a trend line, and there may be a need for a pullback in the short term. Given that the market has confirmed an upward trend, shorting is not recommended at this time. Since the direction is set, the likelihood of a breakout is high. It is suggested to buy on dips during pullbacks and maintain a bullish strategy. The support level is around 112,000, and further increases are expected after a pullback.
Four-hour level: BTC has shown a volume increase on the four-hour chart. A short-term pullback to around 115,100 can be considered for buying, with a replenishment point set at 114,500 and a stop loss at around 114,000, aiming for a target price of around 118,500.
Weekly level: If it pulls back to 112,000 without breaking previous highs, the current bullish trend remains intact, and the market remains healthy.
Operational suggestion: For currencies that have already been bought at the bottom, it is recommended to continue holding for a rise, as pullbacks still present buying opportunities. The current market is still in a sideways consolidation phase, and as is common with market reversals, despair might actually be the best opportunity. This round of the bull market is far from over; patience is key.
ETH
Yesterday, ETH surged 15% overnight, completely reversing last week's losses, breaking out strongly and reaching new highs! However, it should be noted that the red line in the chart represents previous highs, and on the four-hour chart, although it hit the previous high, it did not successfully hold, closing with a bearish candlestick and a doji, indicating a potential risk of adjustment in the short term.
It is suggested that partners who want to get on board together, especially Heyue, should mainly exit here. I have also taken profits on most of my holdings. Either wait for a pullback to buy low, or confirm a real breakout to chase.
The most frequently asked question by fans at the moment
1. Can I still get on board now?
To be honest, chasing the rise is not my strength. If we're talking about pullbacks, 4500-4600 is a wrong buying point.
2. Where will ETH go?
ETH broke 4800, and if it goes higher, it will be infinite possibilities! Based on Bitcoin's $60,000 peak trend, if BTC's target price is $120,000, then after ETH breaks its historical peak, theoretically it should double, reaching around $10,000. However, ETH's rise won't happen overnight; it needs to move step by step, first breaking through the 4900 level!
Shanzhai
Yesterday, Powell's speech once again released dovish signals, further increasing market expectations for interest rate cuts. Ethereum continues to hold its leading position, driving strong rebounds in altcoins, and market sentiment is gradually warming up. Recently, the following potential altcoins are worth paying attention to:
PENGU
It has been adjusting within the channel for a month, and once it breaks out, a major upward wave is expected to start. Be decisive when following the breakout!
ORDI
This coin has undergone a long period of consolidation, returning to the Binance spot opening price, and the ownership change has been completed, likely leading to a rapid rise in the future. After breaking the resistance level of 13.2, the target is to double, and the liquidation of shorts is imminent.
LINK
The demand for oracles is high, and the recent trend is quite strong. As a long-term stable coin, it is very suitable for currency-based grid trading, with no need to worry about going to zero with long-term holdings; it deserves a large allocation. The target is to reach $50 within the year! BTC
Bitcoin (BTC) rebounded strongly after signaling interest rate cuts last night. The current daily chart shows a large bullish candlestick, indicating a significant influx of capital for bottom-fishing and market support. A MACD golden cross has formed, suggesting a continued demand for rebounds. However, BTC currently faces resistance from a trend line, and there may be a need for a pullback in the short term. Given that the market has confirmed an upward trend, shorting is not recommended at this time. Since the direction is set, the likelihood of a breakout is high. It is suggested to buy on dips during pullbacks and maintain a bullish strategy. The support level is around 112,000, and further increases are expected after a pullback.
Four-hour level: BTC has shown a volume increase on the four-hour chart. A short-term pullback to around 115,100 can be considered for buying, with a replenishment point set at 114,500 and a stop loss at around 114,000, aiming for a target price of around 118,500.
Weekly level: If it pulls back to 112,000 without breaking previous highs, the current bullish trend remains intact, and the market remains healthy.
Operational suggestion: For currencies that have already been bought at the bottom, it is recommended to continue holding for a rise, as pullbacks still present buying opportunities. The current market is still in a sideways consolidation phase, and as is common with market reversals, despair might actually be the best opportunity. This round of the bull market is far from over; patience is key.
ETH
Yesterday, ETH surged 15% overnight, completely reversing last week's losses, breaking out strongly and reaching new highs! However, it should be noted that the red line in the chart represents previous highs, and on the four-hour chart, although it hit the previous high, it did not successfully hold, closing with a bearish candlestick and a doji, indicating a potential risk of adjustment in the short term.
It is suggested that partners who want to get on board together, especially Heyue, should mainly exit here. I have also taken profits on most of my holdings. Either wait for a pullback to buy low, or confirm a real breakout to chase.
The most frequently asked question by fans at the moment
1. Can I still get on board now?
To be honest, chasing the rise is not my strength. If we're talking about pullbacks, 4500-4600 is a wrong buying point.
2. Where will ETH go?
ETH broke 4800, and if it goes higher, it will be infinite possibilities! Based on Bitcoin's $60,000 peak trend, if BTC's target price is $120,000, then after ETH breaks its historical peak, theoretically it should double, reaching around $10,000. However, ETH's rise won't happen overnight; it needs to move step by step, first breaking through the 4900 level!
Shanzhai
Yesterday, Powell's speech once again released dovish signals, further increasing market expectations for interest rate cuts. Ethereum continues to hold its leading position, driving strong rebounds in altcoins, and market sentiment is gradually warming up. Recently, the following potential altcoins are worth paying attention to:
PENGU
It has been adjusting within the channel for a month, and once it breaks out, a major upward wave is expected to start. Be decisive when following the breakout!
ORDI
This coin has undergone a long period of consolidation, returning to the Binance spot opening price, and the ownership change has been completed, likely leading to a rapid rise in the future. After breaking the resistance level of 13.2, the target is to double, and the liquidation of shorts is imminent.
LINK
The demand for oracles is high, and the recent trend is quite strong. As a long-term stable coin, it is very suitable for currency-based grid trading, with no need to worry about going to zero with long-term holdings; it deserves a large allocation. The target is to reach $50 within the year!
