$BTC $ETH What to do next?
Bitcoin recently broke through the "wall gap" at 88700, with the price skyrocketing to a new high of 94600, and the gap between it and Ethereum is widening. From a technical perspective, BTC is challenging a larger "ceiling"—the downward pressure channel near 95600. If it successfully breaks through, it may soar towards the 100,000 mark, even challenging last year's high.
However, in the short term, the area around 95700 resembles a heavy iron gate, and we need to see if the trading volume can keep up; otherwise, it may trigger a 10% pullback. The important support below is at 92500, equivalent to the position of an armory, and falling below here may trigger a long squeeze.
On the Ethereum side, the trend is lagging a bit. Although it has broken through the new resistance level of 1870, the area around 1750 feels like a stretched rubber band, which could rebound at any moment.
More critically, the major central position at 2200 is where last year's trapped positions are accumulated, similar to a toll booth on a highway; breaking through here is necessary to open up upward space.
The current price hovers around 1870, testing the market's reaction. If it can hold above 1850 for three consecutive days, it may initiate a sprint towards the 2000 mark.
Currently, there are two dangerous signals in the market: the daily outflow from Bitcoin ETFs reached 420 million USD, but miners are quietly increasing their holdings.
In the options market, the proportion of put contracts has risen to 43%, hitting a three-month high. It is advisable to focus on the two "lifelines" of 95700 and 1870; pay attention to volume coordination when breaking through and observe the effectiveness of support during pullbacks.
Right now, the market feels like the final sprint of a 100-meter race, where one must be wary of false starts while seizing acceleration opportunities.
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