Bitcoin fell to around $105,100 yesterday and then quickly rebounded to break through $109,000, setting a new high since June 12. Ethereum performed even better, rising above $2,600. Market sentiment has suddenly heated up, but is this a major move to sell at a higher price or the beginning of a new round of price increases?
The current market is divided. Some people take advantage of the situation to take profits, while others increase their positions to buy at the buy the dips. Let's take a look at the views of several analysts on the Followin shill square:
🔹 @DaanCrypto
Bitcoin has been trading sideways below this high time frame resistance for about 6 weeks, and most Altcoin have continued to fall during this period. Don't get too excited before a real breakthrough, and don't rush high in advance, otherwise you will be easily trapped. Especially in this cycle, the pace has slowed down significantly. Whether it can break through this time is worth paying attention to.
Source: Followin
🔹 @astekz
Some long orders have been taken profit, and the rest are being held. 110K is the "Great Wall" level of resistance, and only if it breaks through can there be hope for a large-scale upward movement.
Source: Followin
🔹 @EasyEatsBodega
Bitcoin's daily trend has finally broken through the range of fluctuations since May. As long as it can remain above 108K, the trend is expected to continue.
Source: Followin
🔹 @CycleStudies
After the 4-hour oversold signal, Bitcoin rose unilaterally by $4,350, which was the smoothest rise in the past 9 days. Currently, it has returned to the pressure zone of June 10, and has partially taken profits and raised the stop loss line. Next, we will focus on the 4-hour overbought signal.
Source: Followin
What do you think? Should you sell your stocks to take profits, or continue to hold or increase your position?
