5.11 The big pancake box has broken through again, will it continue to hit the high of 110,000 and pull up short positions?
Bitcoin's weekly chart has continued with five consecutive upward movements after hitting the bottom, rising from 74,000 to 105,000, during which it experienced two rounds of box oscillation, both breaking upwards. Currently, there are pressure zones above this position, so be cautious about going long. The rise has not seen a significant pullback, and it's easy to get caught in long positions near 106,000. It is recommended to focus on short positions in the evening. The weekly pressure zone near 106,500 is likely to experience a drop. This box breakout is not as strong as the last time, and recently, it is advisable not to chase long positions at high levels. This is not the time for the second wave of major rises; do not hold onto grand fantasies. Instead, secure profits from high short positions, and once it goes down, you can switch to long positions at support levels. Ethereum has recently been really amazing; this time it has truly made up for the lag. When trading Ethereum, you need to be quick in and out, as holding for too long can easily lead to profit reversal.
Trading Suggestions:
Short at 105,555, stop loss at 107,000, target at 102,800
Long at 102,000, stop loss at 101,000, target at 105,500