Bitcoin is about to break through 70,000, and the acceleration of the market is coming. What should retail investors pay attention to?
Bitcoin once again stood above the 120-day moving average two days ago, resuming its bullish trend. This time, it did not choose a false breakout trend line, but chose to fluctuate in a narrow range around 67,000.
As long as it does not fall below the current range of fluctuations, the trend is healthy.
The approval of the ETF this week, the Bitcoin conference at the weekend, and Trump’s speech have all created the best external environment for Bitcoin to hit 70,000. Since hitting a high on March 14, Bitcoin has been washing for 4 months.
This time, we are finally going to break through the trend line, and we are about to usher in the accelerated trend of this bull market, with the target of 100,000 to 130,000 yuan by the end of the year.
Teach everyone how to avoid pitfalls, maximize profits and avoid missing out in an accelerating market.
The first point to note: the cycle is very short.
Although I have always said that the second half of the year is the second half of this bull market, the actual accelerated market will not really give you half a year. The real acceleration time window may only be 3 months. If you are a little confused for a while, the bull market will be over.
The second point to note: Don’t short.
In every bull market, there are a group of people who are firmly bearish. As long as the market reaches a new high, they will short sell. No one knows why they are so obsessed with short selling. The profit and loss ratio is extremely poor, and they all go bankrupt and leave the market in the end. In a bull market, no matter how incredible the rise is, don't short sell. It's better to chase the high, at least time will be on your side.
The third point to note: Don’t underestimate counterfeits.
Especially in this round, the long-term wash of the altcoins has been demonized by the outside world, but it can be said that for retail investors, the only way to get rich is to look at the altcoins. Especially for the new coins issued in the bear market, which have not moved so far, you should pay more attention to them. Chase them when they rise, and give up the left side.
The fourth point: give up hair pulling
Waiting for the bear market to start arbitrage is a waste of time. Putting funds in the pledge agreement is a waste of opportunity cost. Even though many coins have fallen by 80% or 90%, they will rise in no time.
Ambush these 5 altcoins with 100x potential in the bull market!
1.ETC
Despite recording a correction of about 2% in the past 24 hours, Ethereum Classic price has gained 2.26% in the past week. Moreover, with a trading price of $23.49 and a market cap of $3.472 billion, this altcoin ranks 27th on the global cryptocurrency list.
The EMA 50 is acting as resistance on the ETC price chart on the 1D timeframe. Furthermore, the MACD indicator is showing a constant green histogram. This highlights the upward price action in the cryptocurrency space.
If the bulls regain momentum, Ethereum Classic price will be ready to test its overhead resistance of $29 in the coming weeks.
2. ENS
The price of ENS has attracted a lot of attention in the cryptocurrency market over the past few months, causing its valuation to increase by more than 150% this year. Its market capitalization is $861.161 million and it is currently trading at a discount of 69.48% from its previous high of $85.69.
The Relative Strength Index (RSI) continues to hover around the midpoint on the 1D timeframe. However, the average has recorded a bearish convergence on the 1D timeframe, indicating that the cryptocurrency market sentiment towards altcoins is mixed.
If the market sees positive price action following the listing of the ETH ETF, the ENS price will start trading with a bullish sentiment. This could lead the altcoin towards its highest point at $32.50.
3. THIS
As the cryptocurrency market price volatility increases, Ethereum prices have plunged by about 5% in the past day, with a trading volume of $72.8 million. However, in the past week, Ethereum prices have risen by 9.09%, and finally ranked 89th with a market value of $789.93 million.
The technical indicator RSI failed to test its neutral point and its average showed a negative trend. This highlights the weak buying and selling pressure on altcoins in the market.
The Moving Average Convergence Divergence (MACD) shows a continuous decline in the green histogram, and its average shows a neutral trend. This indicates a downward trend in the Ethena price.
If the market starts trading with bullish sentiment, ENA price will regain momentum and be ready to test its overhead resistance at $1.075 in the coming weeks.
4.AVAX
AVAX price ended the correction phase with a falling wedge breakout rebound. As Avalanche token price rebounded from $23, it broke above the 50D EMA and challenged the 23.60% Fibonacci level and the 200D EMA.
The recovery rally weakens the death cross, while the wedge breakout rally increases the probability of an uptrend. According to the Fibonacci levels, AVAX price could reach the $42 mark or the 50% Fibonacci level for a 30% upside. However, a sharp trend reversal of this magnitude could push AVAX, one of the best performing altcoins, to $60.
5. LOVE
Clearly, in a correction phase, TIA price is seeing a decline under the influence of a huge resistance trendline. Despite multiple rejections that have resulted in the formation of lower highs, Celestia price has gained 43% in the past two weeks and 11% on Sunday, placing it among the best performing altcoins.
TIA price is signaling a trendline breakout as the MACD and signal lines avoid a bearish crossover. With a breakout rally, the altcoin’s bull run could reach $11,184 levels or the 50% Fib level.
