BTC Bread
Current Trend Analysis: Spot Holding is the Key
Although the halving market has not yet arrived, there is no need to worry too much about market fluctuations. The recent sharp drop is mainly affected by the increase in US Treasury yields, inflation concerns and changes in the Fed's policies, and the market selling pressure has increased.
The current market trend is similar to that of June-July last year, and prices have experienced ups and downs. The bullish momentum has been frustrated, the price has fallen below the key support level, and the market has entered a volatile phase.
If the price forms a bottom near 60,000 and stabilizes, it will be a good opportunity to buy the bottom. However, the recent market signals are unclear, and we need to wait patiently for more data support.
In the short term, the price has fallen below the important support line, and the market has turned from strong to weak. The key position is the 200-day moving average at the 4-hour level. If it can be held, there may be a rebound opportunity. But 69,000 has become a point that is difficult to break through in the short term.
Overall, the long-term market still has the potential for growth, but it is necessary to act cautiously in the short term. Spot entry needs to seize the opportunity, especially the rebound point after the price correction. The market has not yet stabilized, and we need to wait for clearer signals before taking action. The key support level is in the 63,000-60,000 range, so keep an eye on it.
In addition to Bitcoin, there are four other cryptocurrencies that are expected to surge 50 times in April.
First is ICP, the token of the Internet Computer blockchain, which aims to be a versatile platform capable of hosting a variety of online systems and services.
Next is AGIX, the native cryptocurrency of the SingularityNET platform, which is used to facilitate transactions within the ecosystem.
MEME is the ecosystem token of Memeland, connecting creators and communities to promote the development of SocialFi and the creator economy.
Finally, there is SUI, a permissionless Layer 1 blockchain that supports a wide range of application development with unparalleled speed and low cost.
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