Sector Rotation Fully Take Off
Has the sector started rotating? When will the altcoin season really come? Ever since Bitcoin broke into a new market trend, I've noticed a good sign. Although Bitcoin is breaking historical highs every day, it's getting slower. When it struggles to rise, Ethereum starts to surge. Although today is the weekend, Ethereum has strongly returned to the three-digit range and has maintained its position so far, which can be seen as a catch-up.
However, I prefer to believe that the rotation has begun. With Bitcoin reaching this unprecedented position, many people may start to hesitate, fearing a pullback if they enter, and fearing missing out if they don't, so they just watch Ethereum. Funds have smoothly rotated to Ethereum and some good altcoin projects. If this situation continues, many brothers who started at the peak or halfway up the mountain at the beginning of the year will not be far from breaking even. However, the immediate problem is, what if Bitcoin reverses and takes people back? How will you respond?
Today's market analysis shows that from the K-line perspective, BTC is in an uptrend on the hourly level, stabilizing upward on the 4-hour level, and still in an upward trend on the 12-hour and daily levels. The intraday resistance level is 78,000, and the support level is 75,000 dollars.
