You may have felt lost in the darkness of a sharp decline, watching your account balance shrink, with fear and anxiety surging like a tide. But remember, every low point is a sharpening of growth, and every setback is an accumulation of experience. The world of cryptocurrencies does not believe in tears, but in perseverance and wisdom. At the beginning of this week, the market continued last week's strong bullish momentum, with Bitcoin hitting a historic high and Ethereum approaching the 4800 mark. A technical correction after the surge occurred as expected, with Bitcoin briefly testing around the 116700 line and Ethereum touching around 4360. The market then gradually stabilized, with the focus steadily shifting upward, and the overall pattern returning to a bullish trajectory.
The 4-hour chart shows a characteristic of 'quick rise and quick fall'; after a rapid surge, it failed to break through the previous high, forming a resistance and then a pullback, followed by a rebound. This week, it is crucial to pay attention to the high-level resistance situation. If the high point remains unbroken, the market is likely to maintain a high-level tug-of-war. The current market appears weak, and the price lacks unilateral upward momentum, with short-term movements being convoluted and volatile, leading to substantial fluctuations. The smaller time frame has been undergoing oscillation and consolidation for some time, but upon closer inspection, there lies a bullish opportunity. The current pattern highly resembles the characteristics of a small-level double bottom: if it can steadily hold the recent low without being effectively broken, a rebound is likely to be on the horizon.
Operational Suggestions:
Bitcoin: Buy around 117500, target 119500
Ethereum: Buy around 4480, target 4600
