$BTC $ETH Discussion on hot topics:
This morning, the U.S. International Trade Court directly overturned Trump's tariff strategy. In plain words, the federal government finally couldn't take it anymore. This small power was not gained, but it made the market feel like it was suffering from schizophrenia.
Unfortunately, the market is currently too lazy to pay attention to this issue. The impact of tariffs has become severely marginalized; both good and bad news can hardly stir up any waves. The market is at most consolidating with slight fluctuations.
So what should we look at next? Let's return to the main theme. Bitcoin is pushing up, and Ethereum is also showing some rebound momentum, but a bunch of altcoins are still stuck at the bottom, barely moving.
Returning to Bitcoin, what does it say? First, if 105500 is not broken, the bears should keep quiet. It has withstood 106600 twice, and even with divergence can still make new highs, indicating that the root of the trend is there, and no one can change it.
Haven't talked about Ethereum for a long time, so let's talk about it today. Ethereum is typically pent-up for a long time, and the contract holdings are about to hit new highs. But the price? It collapsed halfway to the previous high. Do you think this is a healthy market? Come on! This is a typical illusion created by contract gamblers, and the risk is huge.
If there isn’t a sudden surge in the spot market, the contract market will eventually flip. To make Ethereum rise, big capital must come in with real money, not just a few words from KOLs.
What's worse is that the Ethereum community is not united. ICO veterans, those stuck at high positions in 2021, ancient whales, all secretly dumping. No one wants to accompany anyone to the ten thousand dollar mark. What’s the result? Every time it rises, it is shot down, and breaking new highs is as difficult as climbing to the sky. This is hardly a consensus.
Ultimately, if you really want Ethereum to break 5000 or even reach ten thousand, everyone must go crazy together and believe it can take off; only then is there hope. Now? Most people will run away with 3K in their hands, so unless there is a major shift in fundamentals, don't dream about it; it's still too early!
Looking at the trend:
Reference for resistance level:
Second resistance level: 110000
First resistance level: 109000
Reference for support level:
Second support level: 106800
First support level: 105000
Today's suggestion:
Yesterday's closing price broke below the lower edge of the upward channel but held the support line. It is currently forming a short-term rebound. Since the market still has bullish expectations and there are no top signals, it is suggested to first observe the adjustments and then enter a short position during the pullback.
Although the coin price has broken below the channel's lower edge, the 120-day moving average and the support line form a dual support, so the rebound idea can still be maintained. The price of 106.5K is seen as key support. If it is lost, pay attention to better entry opportunities near 105K.
If the coin price returns above the first resistance of 109K, it will re-enter the upward channel and continue to be bullish, with hopes to test 110K again. The second resistance also corresponds to the short-term double top; if successfully broken, it can continue to be bullish.
The low point area of 106.5–106.8K from early yesterday morning is a key short-term support. If it is lost again, be wary of an N-shaped decline triggered by stop-loss orders. If the first support is broken, consider 105K as the range for staggered buying.
5.29 Suggestions for wave trading:
Reference for long entry point: 105000-106800 range, enter in batches. Target: 109000-110000
Reference for short entry point: not recommended for now
