The Year of the Dragon is full of promise, and life is thriving. The Spring Festival red envelope market is also very good. We have seized the opportunity to experience the general rise in red envelope market from 2019 to 2023. Congratulations to friends who have followed. BTC has reached a high of 52816, and ETH is close to 3000 (about to reach). Next, let's see if it can reach the Fibonacci 0.618 line (3300). Robert Kiyosaki predicts that by June 2024, Bitcoin will reach $100,000. That's only 4 months away. What do you think the chances are? 
First of all, let me explain a very simple strategy: be bearish at high levels and bullish at low levels. We are bullish between 16,000 and 20,000. In the first stage, after reaching 35,000, it dropped to 31,800 and then fell back to 24,900. In the second stage, after reaching 48,000, it rebounded to 42,000 to 44,000 and gradually reduced holdings. After that, it fell to 38,500, and we believed it would rebound to 45,200 to 48,000 before continuing to fall. Then the market broke through 49,000 and rose to 52,800. (There was a warning in the internal group in early February about the breakout of the triangle). If the market does not fall back to 49,000, we will continue to be bullish until 60,000. If it falls back, it is a false breakout and Ethereum will be at 3300. But I still want to remind you of the risks.
Bearish pattern of expanding triangle (trumpet mouth)
Bearish shark pattern at the weekly level
There was a red envelope market from 2019 to 2023, and it is also happening in 2024. After the Spring Festival from 2020 to 2023, there was a subsequent decline 📉
In the short term, it is not ruled out that it will continue to rise, even touching 60,000. Preventing a fall back to 49,000 is a false breakout. For us, after gradually reducing holdings at 42,000 to 44,000 in the medium term, we will still hold some bottom positions, and the rest is to seize the short-term market.
Continuing to be bullish between 50,000 and 60,000 and bearish below 15,000 to 20,000 is the same group of people who chased highs in 2020 and 2021. A pullback is suitable for medium- to long-term layout.
Bitcoin
After the quarterly line broke through the first big bearish line, the next strong pressure is at 60,000. It is better to wait for a breakthrough at 69,000. The next target is 80,000 to 100,000. The MACD has crossed the zero axis, and the KDJ golden cross, which has appeared since the data was available, is a buying opportunity whenever there is a significant decline.
On the monthly chart, the monthly closing is a doji star, and if this month's closing is a bullish candle, it is still a bullish performance. The weekly chart has just broken through 49,000 and is still showing strength. After breaking through the Fibonacci 0.618, the next target is 0.786 (57,600).
Although the daily chart broke through 49,000 and reached 52,816, it is still within the expanding triangle (trumpet mouth). Only if it falls back to 49,000 can we confirm whether this structure has appeared. Hold in the short term and wait for selling points.
Support:
Resistance: 
Ethereum
After the weekly triangle breakout and pullback, it continues to rise, and 3000 is within reach, with the potential to reach 3300 to 3500. It is not recommended to chase highs directly. Look for opportunities to get on board on the daily and 4-hour pullbacks. The daily chart has seen a one-sided rise of over 30%, and there are opportunities for intervention in the short term on the pullback. The ETH/BTC exchange rate has rebounded after bottoming on the weekly chart and is currently forming a box pattern, continuing to look for a rebound.
Support:
Resistance: 
If you like my views, please like, comment, and share. Let's go through the bull and bear markets together!!!
The article is time-sensitive and is for reference only, with real-time updates.
Focus on candlestick technical research, win-win global investment opportunities. Official account: Trading Master Fusu
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