Bitcoin made a slight upward move last night without breaking new highs or experiencing significant increases, as most of the funds last night flowed into the Ethereum chain, leading to a broad rise in Ethereum-related cryptocurrencies. Bitcoin neither fell significantly nor rose sharply, but remained within a range. Currently, this phase of consolidation may continue, forming a larger support platform, setting the stage for the next push to new highs. If the first wave of the rise has ended, then after this platform is constructed, there will be a second wave of strong upward movement, at which point it will challenge new highs and create new highs. After all, at this position, there are still institutions significantly increasing their holdings, and the subsequent historical peak of Bitcoin is expected to exceed expectations. In terms of operational strategy, after high-level consolidation, wait for a slight pullback to the low point of the consolidation range before launching another upward attack. Be mindful of the time taken to construct the entire platform. The shorter the construction time for the strong upward movement, the better.
For Bitcoin short contract positions, sell near the resistance point of 112800, take profit near 110280, and set a stop loss at 113600.
For Bitcoin long contract positions, buy near the support point of 108435, take profit near 112000, and set a stop loss at 107635.
Ethereum experienced a unilateral rise yesterday, and related cryptocurrencies in the Ethereum chain also saw significant increases, with UNI rising directly by over 20%. Coupled with favorable news, Ethereum successfully reached a new high, breaking through the previous resistance level. After last night’s surge, there is an expectation for a correction this morning. We will first observe the strength of the correction. Overall, after a significant rise, the upward trend is expected to continue. What we need to pay attention to is the magnitude of this correction; if it is a slight pullback, we will continue to look for a breakout and strong upward movement. If there is a significant drop, we need to guard against falling back into the consolidation range. In terms of operational strategy, after a unilateral rise, wait for a fully adjusted low point to enter long positions again. The supplementary rise has already begun.
For Ethereum short contract positions, sell near the resistance point of 2925, take profit near 2840, and set a stop loss at 2940.
For Ethereum long contract positions, buy near the support point of 2776, take profit near 2920, and set a stop loss at 2761.
The opinion is for reference only, with stop loss and take profit.$BTC