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Recently, Bitcoin has been fluctuating for about 4 days, and today it has once again surged past 116,000. In the short term, it is likely moving in an upward wave at the 4h level. In previous articles, we mentioned that Bitcoin's 4h upward wave will either only create a secondary high point or set a new high. What is a secondary high point? It is definitely a position close to the previous high, at least above 118,000, with a normal secondary high point being around 120,000.
From the current market situation, I am more inclined to believe that Bitcoin will once again set a historical high, expecting at least to touch around 126,000.
Ethereum is the same; its strength mainly lies in the fact that its 4h level downward movement has not occurred. Therefore, I personally believe that Ethereum's subsequent trend will likely follow a trending market.
BTC Short Term
Due to the rapid changes in the market, the article can only make predictions based on the market conditions at the moment of release. Short-term players should pay attention to the latest market changes, and it should only be used as a reference.
1H:
1h Level: The short-term structure is not standard and a bit chaotic. Here I think we can handle this segment of pullback from 115720~112650 as a 1h level pullback. Therefore, the current trend can be considered as the third upward wave at the 1h level, first looking at whether this 1h upward wave can reach around 120,000. It is expected that there will also be a 1h level pullback and a 1h level upward wave later.
First, let's see if Bitcoin can reach 120,000 before Sunday. If it breaks through 120,000, our next target will be around 126,000.
15M:
15-Minute Level, let's see if it can directly break through 117500. If it can break through, the next target is around 120,000. However, if there is no short-term breakthrough, then it may undergo a 15-minute level pullback, with attention to 115000, after which there will normally be another 15-minute level upward wave.
ETH
Ethereum has currently broken through 3740, so it is very likely that Ethereum is not undergoing a 4h level pullback, but rather a continuation of the previous 4h level upward wave. The first target above is 4100, and if it breaks through, we look at 4500. A drop below 3600 would be needed to consider a new 1h level downward move.
Trend Direction
Weekly Level: Direction Upward, currently in a new upward wave at the weekly level, overall target above 150,000
Daily Level: Direction Upward, currently undergoing a daily rebound, with the upward target at 120,000~130,000.
4-Hour Level: Direction Upward, it should currently be undergoing a 4h level upward wave, first target 120,000, break through to see historical new highs.
1-Hour Level: Direction Upward, focus on the upward move around 120,000
15-Minute Level: Direction Upward
