On Wednesday morning, Bitcoin reached $108,400 yesterday, and Ethereum reached $4,107, both hitting new highs. I have previously mentioned that this bull market exceeds expectations, and the insight of investors is positively correlated with returns. Although it is known that one should go long in a bull market, impulsive trading often occurs; aligning theory with practice is crucial.

This week, the key event is the Federal Reserve's interest rate cut early Thursday morning, expected to be a reduction of 25 basis points, with a subsequent slowdown or halt, which is favorable for the cryptocurrency market and Bitcoin hitting new highs.

Currently, Bitcoin has pulled back by 2,000 points, and Ethereum has pulled back by 260 points. It is recommended to go long in line with the trend and not to blindly sell off. This morning, Bitcoin at $105,200 and Ethereum at $3,847 have shown signs of short-term support with a rebound, unless the trend changes, otherwise, continue to go long. The volatility does not change the fact that if the price does not fall, one should go long.

Bitcoin’s support levels are at $106,000 - $105,500, targeting $108,500 - $109,000; Ethereum’s support level is at $3,850, targeting $3,950 - $4,000.

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