BTC is consolidating and strengthening. After a decline and sideways movement over the weekend, last night BTC launched another upward push and is now near the previous high around 8.65. In the short term, the focus is on whether it can break through the previous high resistance at 8.73 and set a new high for this rebound.

After about two weeks of high-level consolidation, BTC has been continuously absorbing the pressure brought by the previous high through a “time-to-space” approach. If it can break upward further, it’s important to observe the strength of the subsequent rally. If it only climbs slowly, the market may once again show high-point warning signals.

Also, continue to watch whether previously popular varieties such as ZEC, HYPE, NEAR, etc. can follow the upward move. If these assets can form a broad-based rally, the market may enter a new round of行情. At present, ADA’s rise is relatively leading.

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