The cryptocurrency market welcomes another major breakthrough, with prices surpassing new critical levels. Looking back at Monday's market, Bitcoin successfully broke through the 12,000 level, reaching a peak close to 123,300 before correcting to the current level, successfully breaking through our weekend predicted exit point. Zhuo Wei also led the team to successfully seize this wave of market, achieving a gain of 2,252 points in the morning layout, and a gain of 67 points in Ethereum. The short-term operation in the afternoon incurred a loss of 400 points! In the afternoon layout, Bitcoin successfully achieved a gain of 1,358 points. Winning and losing are common in the game; failure is not scary, what is scary is the lack of courage to start over.
From the multi-timeframe technical perspective, the current market shows significant bullish characteristics. On the daily level, the price effectively broke through the upper Bollinger Band, with the upper band turning into strong support. The pullback did not break this position, confirming a dominant bullish pattern, and the medium to long-term upward momentum is solid. The four-hour chart shows that the price continues to operate near the upper Bollinger Band, with bulls completing chip exchanges and emotional unification by testing previous resistance levels. The three bands are synchronously diverging upwards and the opening is widening, indicating that bullish momentum is being released in an orderly manner, enhancing the continuity of the short-term upward trend. The hourly chart shows a sideways consolidation with the Bollinger Band flattening, which is a normal energy accumulation process in a trend, capable of digesting profit-taking pressure while accumulating subsequent momentum. Combined with the bullish structure of the larger cycle, this consolidation is more likely to be a continuation of the upward trend rather than a reversal signal. In terms of operations, it is recommended to mainly go long on pullbacks, aligning with the market's upward rhythm.
Bitcoin recommendation for early Tuesday: Long in the range of 119,500 - 119,000, target attention on 123,500.
Ethereum recommendation for early Tuesday: Long in the range of 2,980 - 2,950, target attention on 3,150.
