Today is the 24th. Starting from the 21st, our view is that the previous high is very likely to be broken. Our approach is not to participate after the new high is broken, because the Pizza Festival, new high day, and the presidential banquet create a fear of missing out (FOMO) sentiment that can easily lead cautious long positions to bet, thus triggering long wick candle.

Last night, Trump said he was considering imposing tariffs on Europe, which is bearish. Bitcoin briefly dropped over $4000, and most altcoins had a correction of around 10%. Basically, it has directly wiped out the gains from the past two or three days, or even more.

Bitcoin formed a bullish engulfing pattern on the daily chart yesterday, and the closing price was below the previous high. On the hourly level, a bearish pattern was formed last night, so it doesn't count as a long wick candle. The other half of the altcoins still need to wait until the next four-hour level finds a low point and rebounds before testing again.

Intraday support 105500-106600

Intraday resistance 110000