Last week, the weekly hammer candlestick formed a "guiding finger" pattern. At that time, we believed that it should not break below 68,400, but ultimately it dipped to 66,666, forming a descending wedge with a bullish divergence rebound, which was perfectly captured technically. In this wave, we have been bullish since the dip from 55,555, and we firmly believe that there is a chance to reach 80,000 to 100,000 in the fourth quarter.
The weekly cup and handle pattern completed its correction from the previous high of 24 years on March 15. We believe that "the correction on 24/03/15 is for a better rise; the potential cup and handle pattern on BTC weekly chart indicates a bullish continuation." Combined with the daily breakout of the ascending flag, the American bull market has begun.
The monthly BOLL middle band has not been broken, and the rebound is first looking at 100,000. Near the BOLL upper band, the monthly high has been oscillating for 8 months, continuing the upward trend from September over the past 3 months. As long as it does not fall back below 72,700, it is a true breakout. In the larger direction, last week's monthly KDJ turned upward, and MACD also maintained a rebound.
Regarding the short-term market, it still won't allow too many people to make money easily. The American operation led by BlackRock and other capital giants is very successful in various investment fields, and the cryptocurrency market can similarly replicate past experiences.
Just treat BTC as the eighth and most potential "golden flower" among the "seven golden flowers" of the U.S. stock market. The U.S. stock market can have a hundred-year-long bull run; even if it lasts another 10-15 years, that would mean 3-4 rounds of bull markets, allowing the old hands in the crypto space to achieve financial freedom and retire. There’s more to discuss when we have time…
Ethereum
It's gratifying that Ethereum broke through the 2,800 resistance on the second day of Bitcoin's new high, reaching 2,880 at the time of writing. Friends who have been pessimistic about Ethereum should feel quite awkward now. I have also been critical of Ethereum, but this bull market is an institutional bull market or an ETF bull market, and Ethereum is one of the two cryptocurrencies that have a spot ETF.
The significance of Ethereum can be compared to gold and silver ETFs, including the potential issuance of ETFs for XRP, LTC, and SOL, which are in my first tier of focus. With Trump back in the White House, these four years are the most anticipated for crypto.
Ethereum's daily chart broke through 2,800 to 2,880. As long as it maintains above 2,800 on subsequent pullbacks, Ethereum and the altcoins led by it still have opportunities for catch-up. However, it is a bit difficult to expect all altcoins to double or triple simultaneously, just like the polarization in the U.S. and Hong Kong stock markets, where good stocks soar while poor stocks languish until delisting. Therefore, selecting coins in the upcoming bull market is a necessary course.
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The article is time-sensitive and for reference only; it is updated in real-time.
Focusing on K-line technical research, sharing global investment opportunities. Public account: Trading Prince Fusu
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