Looking back at the market, BTC has been continuously breaking new highs recently. The previously predicted points were 93,000-96,000, and yesterday BTC directly broke the highest point near 99,000. When BTC broke the new high, we mentioned that there were no pressure levels above. As for how much, there is no need to judge too harshly or speculate. Yesterday, ETH surged to the highest point near 3,380, with the bottom daily line at 3,000 forming a support level. The overall upward correction of ETH is a clear signal for the market, and altcoins will also experience a correction. Yesterday, the overall altcoin market rebounded, with some being relatively strong, such as the second layer and staking loan sectors. However, it does not mean that all altcoins will soar collectively. The market has been pulling funds; where does the money come from? The trading market needs a flow of funds to rise. The entire crypto circle is calculated in thousands of units, and the results will naturally emerge. For the current market, my personal advice is to observe while walking, and to layout a few relatively hot sectors in the short term. The overall altcoin market has not yet moved.
The BTC market continues to break new highs, currently consolidating at a high level while aiming to break through. Many people have in mind a short-term breakthrough of 100,000, which is only about 1,000 USD away. We just want to predict that the position has already broken through. If 100,000 USD breaks, then BTC will continue to rise, or even rise higher. Many questions are just speculation. For now, we can only observe changes. I still maintain the view that BTC will not keep rising indefinitely. There are many people in the market chasing BTC, including contracts and loans. Where will the profit funds for so many people chasing the market come from? One can only say that the market makers are continually luring in retail investors. As long as they have not sold their BTC and have not withdrawn funds, it is just a number. Just observe the changes and manage the risks well.
ETH yesterday surged directly from around the bottom of 3,000 to the high point of 3,380. The daily line has tested this position multiple times without breaking down. On the contrary, the daily level has received support, leading to a wave of upward correction. This upward correction is a positive factor for the overall market, at least beneficial for the performance of altcoins. On the four-hour level, the lowest point near 3,300 saw a consolidation, and as long as the price stabilizes at 3,360, it will continue to rise, looking towards the previous high points around 3,500-3,600. During the day, pay attention to the support level at the bottom in the 3,300-3,260 range and the resistance level above in the 3,380-3,420 range.
