Market Sentiment
Chart Structure:
Bitcoin:
The structure of Bitcoin on the 1-hour chart. Bitcoin ultimately broke out of the converging triangle and continued to move upward. Now it remains to be seen whether it can continue to reach new highs. As mentioned a few days ago, as long as the core does not fall below 35500, there is still a chance to reach new highs. Currently, it is still following the first move after leaving the pen. However, personally, I believe there is a high probability of continuing to maintain the possibility of reaching new highs. Currently, there is no short-term news that can have an impact, and with the expectation of a rate cut in the US stock market and the recent sharp decline in the US dollar, it is favorable for risk assets.
The structure of Bitcoin on the 15-minute chart. Currently, the structure of Bitcoin on the 15-minute chart has broken through the central axis, as expected yesterday. The trend is still in a very strong stage, and the probability of breaking through to the upside is still very high. Currently, only the first move of the 15-minute chart has been executed. If the pullback does not fall below 36600, there should be no major issues, and it can continue to move upward.
Ethereum:
The structure of Ethereum on the 1-hour chart. The structure of Ethereum has strengthened following Bitcoin. It remains to be seen whether the yellow resistance can be broken. If it cannot be broken, there will be a subsequent move on the 1-hour chart, and it will still be able to reach new highs. This is the trend indicated by the green pen in the image. If the trend is neutral, it will follow the trend of the yellow pen, and there will be a chance to reach new highs, but the probability is not high.
Trading Strategy:
Specific operation points and logical explanations will be published in the group in the form of videos.
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