Grilled chicken wings are here

BTC just broke through $118,000, smashing through all resistance levels since May.

Short-term surge in volume, technically pushed to the upper Bollinger Band, RSI shot up to 70, and the sentiment is heating up.

To be honest, this kind of market easily leads people to "impulsively buy in", but I want to say a few calm words.

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📈 How to interpret technically?

• Daily: breakout pattern established, but short-term has seriously deviated from the moving average;

• RSI > 70, upper Bollinger Band is close, short-term there is a need for a pullback;

• MACD still has a golden cross with expanding red bars, long-term trend is fine, the main upward wave is still running;

• Support level: $114k–$116k, a pullback that doesn't break is the entry point;

• Resistance level: $120k–$125k, could be the target for this round of peak.

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Can altcoins follow?

To be honest, this round is driven by BTC, ETH is struggling a bit.

Let alone altcoins, some are still stuck in the mud.

But the altcoin rebound window usually lags by 1–3 days, and some mainstream coins (LTC, ATOM, UNI) are still at weekly bottoms, there may be a "delayed market". However, LTC has already started moving.

I personally will focus on moments of "BTC sideways + mainstream coins rallying" before considering altcoins, otherwise, I'd rather stay in cash and watch.

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My own strategy (spot & contracts):

• Spot: not chasing highs, waiting to enter around $114, but not too much, let me build a large position, maybe after a year, haha.

• Contracts: light positions for short-term trades, would rather miss out than force a buy;

• Altcoins: only touch bottom structures, participate only when the main upward wave starts, don’t chase the ones that have already soared. Some may say, you’re not picking the good trends, choosing ones stuck in the mud, but that’s just my choice, I really don’t want to chase!!

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Lastly, a current event remark:

Recently, Trump started talking about Bitcoin and releasing miners, while Musk is also leading the AI trend. This kind of market where "tech giants + political figures" are both making moves is a signal for the trend to truly rise, but it's also the time when new investors are most likely to FOMO in. "Sometimes it really is the time to get trapped, but this time will come within 2 months."