📢 #Gate Square Writing Contest Phase 3# is officially kicks off!
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Market trend analysis strategy execution follow-up: →♥
BTC: Currently, we are still maintaining our original approach. After reaching the phase peak around the 123300 area, it has pulled back approximately 7500+ points. However, I believe there is still room for further retracement. Where can we find better support specifically? The daily support has been updated in yesterday's post for reference. At present, this is only a rebound after the high-level pullback, and it has only weakly bounced back to the resistance level near 118500.
ETH: After entering our main position at 3066, we can roughly target the 2940 level, because we indicated yesterday that the four-hour support level for Ethereum is around the 2930-2942 range to go long. However, the small structure of Ethereum rebounded quite sharply last night and continued to push up to the upper range of the weekly structure's short position.
However, overall, the tone needs to be set: currently, Bitcoin seems to give people the feeling that it’s not rising much, while Ethereum is in a situation of catching up. In fact, you can understand it as a catch-up. Since it's a catch-up, what should happen after it catches up? It should continue to follow Bitcoin.