SanDisk and Micron have stopped rising, and the turning point ahead can only be observed in silence.
Fed Chair Warsh delivers his first major public speech. His previous vague remarks and wavering stance have already shaken market confidence. If this speech leans hawkish and signals rate hikes, Bitcoin could see a short-term pullback and shakeout. If it leans dovish and steadies the market, a direct breakout is possible.
U.S. Treasury debt has officially surpassed the staggering $40 trillion mark. With a ballooning deficit and interest payments crushing the fiscal picture, no one dares to hold long-term Treasuries anymore. The Treasury is in a panic, forcibly doubling its buyback of long-term bonds to rescue the market, aiming to push yields down and stabilize the bond market—but this is pure poison to quench thirst, the more they rescue, the worse it gets! The rescue effect lasted only one day before long-term yields immediately rebounded.
Back to the broader market, after a sharp surge, a correction is inevitable. The oscillating pullback is just normal breathing. In this structure, don't think about major reversals—it's not the start of a bull market, but it won't be a bearish engulfing either. The overall market doesn't need much discussion; whatever direction the earlier trend script takes affirms the outlook ahead. The monthly K-line front end is indeed weak. Bitcoin's so-called bear market plunge broke below the 60,000 mark, and the broader market remained completely unresponsive for two months. A significant turning point and rally are entirely normal, but retail investors lose to their own impulses, knowingly repeating mistakes!
Back to the intraday structure, Bitcoin's short-term rebound to 79,000 has pulled back, and Ethereum's surge to 2,500 has retreated to 2,300. It's fair to say the trend hasn't changed; the market is just undergoing a normal pullback and repair. If the weekly support at 74,000 holds against the pullback, the larger timeframe still looks bullish. Volume within the range will go through an accumulation phase. For the short-term structure, focus on buying dips and selling rallies, and be sure to seize the moment when a clear turning signal appears!
Intraday, Bitcoin long at 75,700-76,000, with a rebound target of 77,500-78,300. If the upward momentum fails to hold above 78,800, a short position can be considered. In a forming trend, stay steady—neither overconfident nor impatient!
Ethereum is bullish at 2,410, with targets of 2,450-2,480. On the daily chart, short at 2,500-2,530.
That's all for the new week. Wishing everyone smooth trading...
