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The price of Bitcoin has broken through $70,000. In other words, after surpassing $69,000, the subsequent market trend is clear. In the past two months, we have repeatedly emphasized that the price of Bitcoin has formed a double golden cross on the weekly MACD indicator, and each subsequent pullback could be a good opportunity for us to enter the market. Last week, Bitcoin dipped to the 5-week moving average at $65,200, and then closed with a small bearish candle with a long lower shadow. In such a situation, it generally confirms the pullback. Therefore, after the start of this week, Bitcoin's price continued to rise, successfully breaking through the descending trend line.

From the descending trend lines formed in March, April, and August. The upward attack at this point represents a very clear confirmation signal that Bitcoin's own bull market, or a new upward trend, has already begun. This is one of the important reasons we emphasized the need to allocate Bitcoin earlier. Even after the trend is established, the first to rise will be Bitcoin, and only after Bitcoin's consolidation will it be the turn of various altcoins to rise.

Looking back at the daily level, Bitcoin's price in this movement has once again formed a golden cross near the 0 axis on the MACD indicator. Thus, it resonates again with the weekly level. At this point, the turning upward of the 5-day and 10-day moving averages is also a bullish pattern of upward momentum. Therefore, Bitcoin's highest price currently at $70,400 has reached a very critical position and has broken through the previous high of $69,000. So what to do next? Only holding can lead to wealth; thus, doing nothing is the best strategy, while acting recklessly will surely backfire. Each person can understand the reasons for themselves.

Dogecoin's recent pullback, viewed from the weekly level, has also retraced to around the 5-week line at 0.12765. We remind everyone that the entry point is in the range of 0.1250 - 1.30. So, for Dogecoin, if you are interested, I believe you have also received the corresponding chips. After this pullback, Dogecoin has continued to rise, increasing nearly 20%. How can Dogecoin be so strong? From a fundamental perspective, it relates to the U.S. elections, and has certain connections with Musk and Trump. If they win, it will be beneficial for the cryptocurrency market, and Dogecoin is bound to reach a new high. Dogecoin has certain support at the position of 0.168. If Dogecoin can break through 0.223, it will continue to rise, but after the rise, it may face a downward pullback. So for those with heavy positions in Dogecoin, it is advisable to take profits in batches.

From yesterday's movement, it has already surpassed yesterday's high of 0.148, now at 0.16896, and yesterday also saw an increase in volume, which, combined with a long bullish candle, indicates that there is heavy selling pressure above and heavy buying pressure below, overall still favoring the bulls. The returns from Dogecoin are also very considerable, so patiently enjoy the fruits of its gains. The resistance level can be referenced at 0.176, which will become a phase resistance, similar to when Dogecoin broke through 0.142 and then had a downward pullback. Therefore, the market will not change overnight; chasing highs is undoubtedly fatal. Wait for a pullback to add positions; when Dogecoin approaches 0.175, consider taking some profits and wait for a pullback to re-enter.

Ethereum is currently around $2,600. The previous wave of declines at the weekly level was quite fierce, dropping 14.08%, which scared many people. Of course, will Ethereum differ greatly? Currently, the exchange rate of Ethereum against Bitcoin is 0.03674, which has also broken down. If Bitcoin starts to pull back during its upward movement, it may lead to a rise in Ethereum and altcoins. Be patient and wait; the market will always rotate. It is impossible for one sector to keep rising indefinitely; funds will always flow out and into other sectors. Whether you can wait for the leading coin of the sector you hold will depend on how the market rotates in the future.

After the trend is established, every word spoken is actually meaningless. After experiencing two waves of market movements, we find that doing nothing or holding coins during a bull market is the best strategy.

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