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Bitcoin hits a new high again, but every rise is quite painful. It’s not far from the previous high, so I don’t dare to push for a big move. This is mainly because there are more variables outside, and the funds aren’t that crazy. I can only take one step at a time, looking back after each step.
At the moment, Bitcoin has broken through the consolidation range, but afterward it has retraced this resistance level twice. Now it depends on whether this resistance level can hold.
If it can hold—if it can stand firm—then keep looking upward, with the target directly at this new high: 74443.
If it can’t hold and falls back into the range, then it’s temporarily fine. But if it completely breaks below the lower edge of the range, then it will need to test the two support levels at 71449 and 70486.
As long as it doesn’t fall below 70486, the big direction is still upward. The recent local highs and lows are both being lifted; as long as there hasn’t been a lower low, I will firmly not short. I’d rather miss the pullback.
$BTC Key locations: resistance above 73120-74267-75397, support below 72624-71433-70497.
$ETH Ethereum is much weaker than Bitcoin. It can’t even break through the previous high.
Right now, it looks like a small staircase, slowly climbing along the lower boundary. As long as it doesn’t fall below 2233, it will keep rising. It must break through the previous high of 2338 to be considered truly strong. If it falls below 2193, then wait around 2158 to look for another buying opportunity.
The overall trend is still upward; focus on buying on dips, set proper stop-losses, and follow the trend.