2024 is destined to be another sensational year for the currency circle. After more than two years of decline, Bitcoin has once again risen above 65,000, reaching a high of 68,800, and even approaching its historical high. After entering 2024, the currency price has been soaring, and breaking the historical high is just a matter of these few days. Looking at the trend, after the horizontal adjustment above the 50,000 mark at the end of February, the bulls have entered a frenzy mode, breaking through the 60,000 mark and continuing to rise. Especially yesterday, it surged again, breaking through the high point of last week. Currently, the currency price is approaching a new high. In the short term, the daily line has experienced a significant retracement, with the currency price rebounding after testing the 65,000 mark, and overall, the bulls remain strong. As long as the daily K line does not show a situation of engulfing the previous positive K line, the main operation is still to go long.

Ethereum, if compared at the same time point, the overall increase in price is actually slightly weaker. Ethereum's historical high is at 4877, compared to the current high of 3780, there is still a space of over a thousand points. However, this does not mean that Bitcoin will refresh its high while Ethereum will also refresh its high. The two trends are roughly the same, but the magnitude and strength are not necessarily related. Looking at the daily trend, since February, it has been a unilateral upward structure, even if Bitcoin experiences a significant short-term retracement today, Ethereum continues to rise steadily. Especially in this unilateral market, as long as the daily line does not show consecutive retracements, it is not advisable to consider short-term positions. In the short term, it rebounded twice to around 3650 during the day and directly broke the intraday high in the evening. This situation indicates that the short-term continuity of the bulls is still good, so the main operation is to maintain a long position.

BTC short-term over 66,000

ETH short-term over 3700

Gold, after the short-term surge following the opening of the US market, gold is almost about to refresh its historical high once again. Last Friday, the gold price surged, and the daily line broke through and stabilized above 2080. This week, it continued to rise and broke through the 2100 mark. Although the gold price broke through the historical high to 2144 in December last year, the price only stayed briefly and then experienced a significant pullback. In other words, the daily line did not truly close and stabilize above the 2100 mark. However, this week, with the consecutive positive daily closes, standing firm at 2100, compared to the previous breakthrough, this time it is obviously more powerful. If the daily line stabilizes at 2100, the new high will continue to be refreshed. In the short term, the gold price quickly fell back after surging to 2141, but overall, it closed higher for the day. In addition, with this week's non-farm payroll report, market fluctuations will naturally be relatively larger and more frequent. Short-term support is at 2120, and as long as the hourly line does not fall below this level, the main operation is to continue to go long.

Short-term over 2120

This article is an original work by the author Xiao Feng Lun Bi. The above analysis is only for personal opinions and reference. Investment carries risks, and entering the market requires caution. Please indicate the source when reposting! For more analysis and suggestions, please follow the public account: Xiao Feng Lun Bi

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