Trump won! These are the two best words of the year—not just for crypto but for the entire global economy. This impact has already become evident within the first few days of his victory. However, nothing moves upward in a straight line, so there will always be trading opportunities. Let’s wrap up this week together.
7 Days Heatmap
The market is optimistic, and you can see from the 7-day crypto heatmap that almost everything is green, with BTC up by 1% and ETH by 2.97%.
BTC Analysis
As expected from our latest market analysis article, BTC rejected the $66,000 level and traded higher, forming a new bullish impulse responsible for breaking the all-time high.
Currently, BTC is hovering around the upper bound of the rising channel, marked in blue.
If the bears take over short-term for a correction, the $70,000 - $72,000 support is where we will be looking for trend-following longs.
ETH Analysis
As expected in our last ETH update, it rejected the lower bound of the orange channel and the $2,500 round number, surging by over 20%.
For the bulls to remain in full control, a break above the $3,000 round number is needed.
Meanwhile, the bears still have the potential to initiate a correction phase toward the $2,700 level.
Quote of the week
The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading.
~ Victor Sperandeo
Closing Remarks
In summary, BTC and ETH both saw gains, with BTC breaking past the $66,000 resistance to a new high and ETH rebounding strongly from the $2,500 level.
However, while bullish momentum is present, potential corrections could offer strategic entry points for trend-following trades, with BTC support anticipated around $70,000-$72,000 and ETH facing key levels at $2,700 and $3,000.
For more in-depth insights and analysis, explore our full market outlooks—they go beyond these quick updates to provide a comprehensive view.
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