BTC Breaks $65,000, Is a New Bull Run Imminent?After nearly a week of consolidation at high levels, BTC has broken through its previous high of $65,000. This is the first reversal signal seen in six months
BTC Breaks $65,000, Is a New Bull Run Imminent?
After nearly a week of consolidation at high levels, BTC has broken through its previous high of $65,000. This is the first reversal signal seen in six months. In a previous article, I mentioned the C-wave theory rebound target of $69,000, and I maintain this perspective. As long as the market does not break below $62,000, the short-term trend remains bullish. Theoretically, this rally could reach $69,000 before retracing to $60,000 and subsequently challenging the all-time high. However, if it breaks below $62,000 beforehand, the projected trajectory becomes uncertain. Therefore, those already invested should keep a close eye on the $62,000 support level. If it breaks, exit immediately. If it holds, you can continue holding. For those who haven't entered yet, do not chase the market; opportunities will present themselves.
ETH: TEV Soars, Left-Side Entry Opportunity Missed
ETH's total value locked (TEV) has surged in recent weeks, reaching seven times that of Solana, driven by the rise of meme coins. For the past two weeks, I have repeatedly emphasized that $2,300 was a good entry point for a left-side approach. The market provided several opportunities below $2,300, and I believe those who have been following my analysis for a long time have already boarded the train. Now, for those already invested, focus on the $2,500 support. Holding above $2,500 could pave the way for a move towards $2,800. The theoretical rebound target is around $2,900, after which a retest of $2,400 is likely. Of course, these are just projections, and the actual market movement may deviate. Our best course of action is to preemptively set our defensive and offensive positions. If you believe the near-20% profit achieved since entering below $2,300 is sufficient, it's also acceptable to exit now.
SOL: Breaks $140, Net Inflow Astonishing
My previous recommendation for SOL was to watch for a break above $140 for new entries. If it surpassed this minor resistance level, it was advisable to take a small position with $125 as support. Theoretically, the target for this rebound was $175. I wonder if you followed this strategy. If you entered at $140, then shift your support level from $125 to $140. Exit immediately if it breaks below $140. Data shows that Solana has seen $1 billion in net inflows over the past three months, exceeding the total net inflows of all other chains combined. Solana's on-chain DEX daily trading volume surpasses $1.1 billion, officially overtaking Ethereum to claim the top spot. Therefore, the odds of breaking through the $165 resistance are quite high.
TON: Ecosystem Remains Lackluster, Continue Observing
There's not much new to say about TON. My stance remains the same: the theoretical 4-wave rebound target is $6.5, with support at $5.5. For those who haven't entered yet, continue to observe. The entire TON ecosystem has been underwhelming lately, with no standout projects after NOT. If you're invested, exit immediately if $5.5 breaks. If it holds, you can continue holding.
BNB: High Consolidation, Head and Shoulders Pattern Shows Signs of Breakdown
BNB experienced high consolidation this week, with bulls and bears locked in a battle around $600. The head and shoulders pattern shows signs of a breakdown. CZ returning to society today and posting a GM didn't stir much market movement. Strong support is at $550. As long as this level holds, there's still potential for a rally to $670. Breaking below $550 will mark the end of the bullish uptrend. Until then, there's no need to be overly concerned.
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