As expected, Bitcoin is currently relatively stable. There hasn’t been a significant breakthrough; instead, Ethereum has surged and reached a high of 3825. Essentially, the bears entering the market are just fuel, which was hinted at by Zijun a while ago. Try not to follow Ethereum; it has had such movements more than once or twice last year. One cannot measure things by common logic. Bitcoin still has room to move down, while Ethereum has been directly buried.

As the weekly closing approaches, Bitcoin is very likely to end up with a doji candlestick pattern. Many people are curious about why Ethereum is advancing rapidly while Bitcoin hasn’t moved much. Logically speaking, Bitcoin at around 120,000 is not unreasonable for Ethereum at 4500. This upward movement is merely a catch-up, so there’s no need to think about reaching higher peaks for Bitcoin for now. Personally, I believe it still leans towards a pullback. A rebound is an opportunity for a downward move! Currently, it has just made a pin bar; I do not recommend chasing in. There may be a slight rebound later, and pay attention to the level above 118,500.

Bitcoin trading suggestion: Move down above 118,500

Target: 115,000#以太坊突破3700