8.10
From the data, over $4.1 billion worth of ETH has been accumulated by various institutions within a month. The average price of these accumulated ETH is around $3,546. Currently, close to 30% of these addresses are in profit. Therefore, we judge that if ETH reaches around $6000-$7000 in the future, there will be significant risks, as these large capitals have already doubled their profits and may sell off to take profits at any time. Yesterday, the world discovered a situation: Harvard University's investment portfolio secretly bought $117 million worth of Bitcoin ETFs in the past few months. The world's strongest university has also entered the market; Harvard University is filled with genius elites, which will drive more institutions to purchase BTC.
Next week, BTC and SOL may take turns to perform!
BTC
At this position, Bitcoin is about to start a daily level rebound from the zero axis; it is currently poised near the trend line. As long as the daily level can stay above 118300, it will attempt to touch the previous high or even break it. There isn't much to discuss about the current market, but at this position, since both the short and long cycles are in the bullish territory, I personally suggest not to chase in the short term, but to hold in the long term. Today, being Sunday, we should pay attention to how the weekly opening today and tomorrow will determine the market trend for the middle of next week, with support at 117500-116500 and resistance at 120000-122500.
ETH
At this position, it is not recommended to chase Ethereum because 4300 is a relatively important level, and it has already risen significantly from this position, so it is likely to consolidate. If the profit base is relatively large, taking some profits is also acceptable. Next, Ethereum needs to see if it can consolidate at a high level; this consolidation process will present opportunities for altcoins, with support at 4125-3880 and resistance at 4300-4450.
