Market Review

It is inevitable to feel that the return of the bull market is so plain and unexpected. The RSI indicator on the two-week level of Bitcoin has broken through the 70 mark for the first time, which has only happened four times in history. The previous three occurrences have all heralded the arrival of a bull market, confirming that this is the long-awaited return of the bull market. Looking back at our arrangement yesterday, we provided a long suggestion within a range of 300 points above 41,300 for Bitcoin in the morning. With a slight pullback in the afternoon market, Bitcoin reached as low as 41,394, allowing for additional positions to be taken. Influenced by the lower opening and higher performance of the US stock market in the evening, Bitcoin further broke through, reaching as high as 44,500, while Ethereum followed suit, rising to around 2,315. We successfully achieved the profit-taking of this round of arrangement, gaining over 4,000 points for Bitcoin and over 100 points for Ethereum. I believe that those who followed have surely felt the benefits of this round of the bull market, and this is just the beginning.

Market Analysis

In the early hours of the day, the SEC once again decided to postpone the final decision on the application for the Grayscale Ethereum ETF. The release of this news did not affect the current bullish trend. Instead, Bitcoin broke through the 40,000 mark in the subsequent trend, and Ethereum followed suit. It is evident that the current bullish trend is so unstoppable that it repeatedly breaks new highs based solely on the brewing positive sentiment. It can be foreseen that when substantial positive news lands, it may indeed meet the expectations of those investment banks, with Bitcoin standing at the $100,000 mark after the bull market.

The current market conditions can well explain the point I made in the previous article about being bearish but not shorting. Even if there is a short-term pullback, it does not provide much room under the influence of the trend. Therefore, in the future, we only need to judge the short-term support levels on the market and arrange long positions accordingly.

Intraday Suggestions

For Bitcoin, arrange long positions around 43,000-43,400, with a target of 44,300-44,800. Hold firmly if it breaks above 45,000.

For Ethereum, arrange long positions around 2,250-2,270, with a target of 2,300-2,330.

For more strategic guidance, follow Yunsan's Weibo, 500,000-follower financial analyst: Blockchain Yunsan

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