Bitcoin broke through the high point of the 14-day moving average again last night, reaching a maximum of 95,000 to complete the daily breakout, which aligns with our prediction of continued high-level fluctuations since mid-month, and we do not rule out the possibility of testing 95,000 to 100,000. Currently, there are still no signs of a peak.

Ethereum continues to fluctuate within a narrow range, while Bitcoin is draining the altcoins, which have seen significant declines. The altcoins are following the downward trend rather than the upward one, leading many friends to wonder if they should reduce their positions in altcoins to avoid risks.

The ETH/BTC exchange rate continues to hit new lows, maintaining a downward trend. Just as we cannot declare a peak in the Bitcoin bull market, we also cannot say that the exchange rate has hit a bottom; we can only wait patiently. What is relatively certain for now is that during each significant rebound in the downward fluctuation, altcoins will experience a rebound.

Bitcoin

The daily chart has broken through, and the 4-hour ascending triangle continues to break out. As we mentioned yesterday, this kind of short-term crazy up-and-down fluctuation is generally a washout rather than a trend reversal. Although we all know that the pressure will be greater as we approach 100,000, we cannot declare a peak in a bull market or short the market; even if there is a subsequent decline, it can only be a short position.

There are no obvious reversal signals in the daily structure; the only change is that the rate of increase has slowed down. The higher we go, the more vigilant we need to be for signs of a peak, such as the first engulfing pattern or a significant upward spike accompanied by huge volume, which requires attention.

Support: Resistance:

Ethereum

There isn't much to say about Ethereum; it continues to fluctuate within a narrow range while looking for opportunities for a follow-up rally. The stop-loss should not break 3,000. Many people ask why Bitcoin is rising alone while altcoins are in despair; one is draining liquidity, and the other is waiting for the right moment to catch up.

In 2020, Ethereum did not see much increase from September to December, and last year, Ethereum also did not see significant gains from September to December before the Cancun upgrade, but subsequently, there was a wave of catch-up. So everyone should understand what I mean; just be patient and wait!

Support: Resistance:

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The article is time-sensitive and for reference only; it is updated in real-time.

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