Yesterday, at 3 pm, Bitcoin hit a historic high of 73777, then dropped to 68555 in the early morning, a decrease of nearly 5000 points. It quickly rebounded to above 70,000 and is currently priced at 71520. Meanwhile, ETH dropped to 3723 and has rebounded to 3882.

It is obvious that in a bull market, there will be frequent sharp fluctuations, which is one of the basic characteristics of a bull market! The purpose is to clear leverage and reduce the burden, and to violently wash out positions, exchanging time for space. Bitcoin has just broken a historic high, marking the start of a major bull market. The continuous expansion of BTC spot ETF shares and the abundant funds will not change, so Bitcoin will continue to set new highs. After a sufficient period of oscillation, it will once again start a trend of volume-driven rise.

Another characteristic of a bull market is that the expectation of Bitcoin setting new highs makes the majority of holders reluctant to sell. Everyone is worried that after selling Bitcoin, they will have to buy it back at a higher price (which is indeed the case). Therefore, it is better to hold onto the chips and not easily exit the market. This widespread mentality in a bull market leads to a gradual decrease in trading volume during the current sideways oscillation, laying the foundation for the next stage of upward movement.

Returning to the main topic of today's article, Ethereum (ETH), after the official launch of the London upgrade, did not show a strong upward trend, but instead followed Bitcoin in a downward correction. Many people may be worried about the future of Ethereum, fearing that the positive news will turn into negative news and cause a collapse. This account believes that there is no need to panic. Although Ethereum has not yet broken through its historical high in this bull market, as the bull market continues to advance, it will eventually usher in the "Ethereum moment."

In the 30-minute chart of Ethereum, it is clear that since the first breakthrough above 3900 points on March 6, it has been oscillating around 4000 points for over a week. Structurally, the 30-minute center has oscillated to the ninth segment downward, upgraded to a nine-segment upward center. Although it is not certain that it will break through the new high in the ninth segment, the buying point should appear first. Whether it is the ninth segment, the eleventh segment, or the thirteenth segment, it will eventually result in a breakthrough. The longer the oscillation, the greater the force of departure.

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