Bitcoin (BTC) is making a strong push this time, firmly holding the 72k position without retreating. It remains strong even in small timeframes, able to recover after downward pullbacks. Therefore, the bulls are still very strong. After this consolidation ends, there is a high probability of continued upward movement. Once it rises again, it will need to break the historical high. Additionally, the daily level rising flag pattern has already broken, and it is only a few hundred points away from the historical high. Once it breaks, the space will open up again.
Bitcoin is currently in a breakthrough pattern and has not yet truly crossed the final threshold. Therefore, we need to discuss how to break the previous high today. Let's first study the market maker's method for breaking the ultimate resistance level.
Method one: Directly attacking with strong upward candles, followed by a violent pullback.
Method two: Adjusting the range near the previous high, completing the breakthrough pattern and then making new highs.
Method three: Long-term consolidation range at the previous high, then making a breakthrough.
We can see that before this week's breakthrough, the market maker has actually been in a consolidation range for nearly 200 days since March. Therefore, based on the number of days in this consolidation, it should not linger too long near the previous high because everything that needed to be done has already been completed. Thus, we can rule out the consolidation cycle of method three.
For method two, it has made a breakthrough pattern near the previous high, but you should notice that it has already risen 100% before forming this pattern, so it is necessary to adjust near the previous high. However, the current price has just started, and it should not enter an adjustment zone again at the moment of starting.
So, for the current trend of the market maker, I prefer method one, which is a direct breakthrough followed by a violent pullback, and then another stretch.
According to method one, we have drawn a forecast chart; this chart clearly indicates that there should be no pause at the previous high but a direct takeoff. As for the high point, we cannot conclude, but we must remember that there will be a surge, followed by a false rally and then a pullback to the starting point. After the pullback ends, there will be another stretch.
Next, we just need to hold our positions and wait for a pullback after a surge, then we can add positions when we see the signal.
Because the weekly chart is still in a breakthrough pattern, consecutive upward movements require time; it cannot just bounce up instantly. Therefore, we still need about two weeks of consolidation. During these two weeks, there may be a violent surge and then a pullback. Once that completes, and the last obstacle is cleared, it will be the moment to enjoy the benefits brought by the trend!
Bitcoin is fluctuating at a high level, and Ethereum (ETH) is attempting a breakthrough (stay alert). Currently, the probability of a breakthrough is still quite high. First, Bitcoin may break through its historical high and pull ETH to break the resistance line. Second, ETH has been closing candles in a small timeframe multiple times, which may lead to a bullish candle breaking the resistance line at any moment. Therefore, this resistance line has a high probability of being broken, and once it breaks, the next target will be 2880u. There will also be opportunities for a supplementary rally later!
Today is the end of the month, and tomorrow we will receive the monthly data. Today and tomorrow, data will be released, so take a break, reduce operations, and wait for tomorrow's data. The mainstream and altcoins are both at recent highs; there is no need to buy during these two days of high uncertainty. Also, there is no need to panic or scare yourself. There is no need to move the chips bought around 6.5W; just wait quietly for the big trend!
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