Bitcoin is surging strongly, and the bears are stunned!
Bitcoin dropped to around 100,000, quickly rebounding, reaching up to around 110,000, with a rise of 10,000 points. Long positions missed out, while short positions are stuck. The shorts have almost faced liquidation of 4 small targets, the bears are really stunned. This wave of increase was indeed unexpected; all I can say is, it still has to be Bitcoin! Reviewing the previous candlestick chart, Bitcoin quickly fell from around 109,000 to about 105,000, forming a large bearish candle. Today, it is around 105,000, and also quickly rose up, forming a large bullish candle. Therefore, Bitcoin needs to continue to rise and must stabilize around 109,000; if it stabilizes, we can consider entering long positions, otherwise, we won't easily enter long. Short positions can also be entered, with stop-loss at the previous high of this spike. It is still recommended to enter small positions or observe, waiting for Bitcoin to spike upwards again before entering short positions. The intraday resistance for Bitcoin is around 110,600.
Ethereum is fluctuating between 2730 and 2380, back and forth. Those who understand box trading have enjoyed these moves. The short positions around 2730 in Ethereum were also suggested for layout; those who entered should remember to set a trailing stop-loss to eliminate risks in this trade.
The candlestick chart below is for your reference! $BTC