BTC

This week BTC fluctuated at a high level and then retraced. Whales made over 100,000 times profit, earning $9 billion, and crazy sell-offs were taken over by over-the-counter trading, with BTC only dropping less than 3%. The situation has changed; in the past, this kind of situation would at least have led to a 30% crash.
So who took over this $9 billion worth of BTC? It could possibly be national treasuries, such as the governments of Russia, Iran, or China, or it could be large old money. Off-market purchases may come at a discount, for example, a 10% discount. These new entrants with large capital have a BTC cost of around $105,000, indicating strong support at the market bottom!
The overall direction of Bitcoin has not changed, it is still upward. It is just that the daily level currently needs time to oscillate and repair. The oscillation range still revolves around 116,500 to 120,000. I still maintain my viewpoint on this position, and the oscillation period will be extended. After the oscillation, if it does not break, there will be a move upward. During the day, attention should be paid to the resistance above at 119,100 to the 120,000 mark. If it stabilizes above 120,000, it will move around 122,000. Currently, the total market capitalization of Bitcoin is gradually decreasing, so we need to pay attention to whether altcoins will take over at this position.

ETH
At the current position of Ethereum, as long as it doesn't effectively stabilize above 3822, we need to pay attention to the risk of short-term fluctuations. Because at the daily level, if it doesn't break through the 3822 position with consecutive bullish candles, its short-term structure is unlikely to change. Currently, the four-hour and one-hour levels have formed a symmetrical V shape. So in summary, at this position, it will still mainly fluctuate. In the absence of a good entry point, more time will be spent waiting. The resistance above is 3822, and the support below is 3688～3635～3540 #以太坊交易量飙升# .