Recently, Bitcoin has experienced another wave of volatility. On the daily chart, it closed with a negative line, and the price is currently stable at around $62,200, showing a small fluctuation trend. From the perspective of form, the K-line is similar to the "Evening Star", which is technically considered a bearish signal. This has caused many investors to worry whether Bitcoin will continue to fall in the short term?
The official account of the museum: full love, no waste of good skirts.
However, on the four-hour short-term chart, we can see that the price is basically running around the middle track of the Bollinger Band. Although the bulls have been trying to break through upward, they seem to be suppressed to a certain extent. It is worth noting that if the price can break through and stabilize above $62,500, the bulls may be further released.
Now let's talk about support and resistance. Currently, $61,800 is seen as a key point for Bitcoin. As for resistance, we have to focus on $65,200. Many analysts believe that this price may become an important resistance level for Bitcoin in the short term.
Of course, the volatility of the cryptocurrency market is not limited to Bitcoin. Judging from the top 200 tokens by market capitalization, there are more declines than increases, and market sentiment seems a bit unstable. However, in this market, there are always some projects that can stand out. For example, BinaryX (BNX), which has recently risen by 21.4%, has become a bright spot in the market.
Why has Bitcoin experienced such volatility recently? This is closely related to multiple market factors. First, the Federal Reserve's monetary policy and employment data are affecting market trends. Recently, data released by the U.S. Bureau of Labor Statistics showed that the number of job vacancies has increased, which has triggered market concerns about inflation and interest rates. The speech of Federal Reserve Chairman Powell has further exacerbated market tensions.
Some analysts also mentioned the correlation between Bitcoin and other assets. For example, it shows a high correlation with major large-cap stock indices such as the S&P 500. This also means that global growth expectations have become one of the main macro factors for Bitcoin's performance. If there are signs of a recession in the global economy, then Bitcoin's trend may also be affected.
Some analysts are optimistic. They believe that as the Federal Reserve may shift to an easing policy and major central banks around the world cut interest rates, this will have a positive impact on crypto assets such as Bitcoin. In addition, the positive impact of Bitcoin halving will also begin to appear around August this year, which may bring a new wave of rising prices to the market.
The trend of Bitcoin is still full of uncertainty. However, it is important for investors to remain calm, analyze market trends rationally, and formulate reasonable investment strategies. Only in this way can they make steady profits in a volatile market.
