$BTC
The big coin has moved through three major phases since April 8th. The first phase was a correction to recover from the sell-off, the second phase was a pullback to accumulate, and the third phase was driven up by the sentiment around stablecoin ETFs and the explosive rise of CRCL.
The first two phases were the market's own doing, while the last phase was purely reliant on financial innovations from the US stock market. Especially the rhythm of this ETF wave has genuinely pulled the entire market out of the mud, serving as a lifeline. But the question arises, how many times can this lifeline save us? Not many; American money isn’t just thrown around, it follows trends.
Currently, the MACD hasn't fully completed the top divergence, technically there’s still a chance for a rally. However, this experience has been really tough; it’s hard to eat and sleep, and one is constantly on edge. If we aim for 130,000, it's not impossible.
However, in this end-stage market, altcoins can easily be abandoned. During the final rally of the big coin, most small coins will be neglected, which is a common pattern.
Ethereum is currently in a typical pullback structure as well. It may need to dip a bit further; don’t rush to short, if it pulls back to a high point, consider shorting a position. The current resistance is around 3672; the overall trend is still bullish.
Big institutions won't give altcoins a chance; when the altcoin season returns, it will rely on a genuine internal explosion in the next cycle, not this pseudo-prosperity driven by foreign funds frantically trading ETFs.
Resistance levels to consider: 120300, 119400
Support levels to consider: 118400, 117300
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