Is it time to buy the bottom of Ethereum and altcoins?
Today, the weekly line closed with a cross line with a long lower shadow. The market did not fall sharply last week, but it went down and then closed up immediately. After Ethereum closed with a large negative line with a large volume last week, many people in the market were bearish, thinking that the decline had just begun with such a large negative line.
1. The decline is shrinking.
2. The long lower shadow of the negative line indicates that there is support below.
3. "Slightly downward sloping parallel channel".
The above three points all represent that the strength of the army is stronger than the air force, so there was no subsequent decline. Instead, today it closed with a cross line with a long lower shadow, which verified the analysis last week. The weekly line closed today has a long lower shadow, which can be called a "quasi-hammer line", touching the lower line of the "slightly downward sloping parallel channel" and the long-term upward trend line, indicating that the support below is very strong. Therefore, the "hammer-like line" closed today not only verifies the conclusion of last week, but also adds another effect of the strengthening of the long army's strength to the conclusion of last week.
Last week, the market experienced a wave of sharp corrections, which caused the retail investors in the outside market to panic and feel anxious. When the market began to stop falling and fluctuate, people outside were worried about whether it would fall sharply again and didn't know what to do. We have already started to implement strategies to operate. In fact, the financial market earns from cognition and information gap.
If you don't understand the current development direction of the blockchain industry and the next direction, you will only chase after the hot spots come out and the market starts, then most of the profit space has been missed. If you can't understand the market trend in the first time, you will chase it after the market rises, and you will only react to the correction when the market has fallen a lot, then you can only make small profits and big losses.
If you always walk behind the market and are led by the market trend, you will never outperform the market, and even if you make money, it is fluke. Everyone knows that there are many opportunities in the financial market, with no limit on the increase and 24-hour trading, so ordinary retail investors have the opportunity to change their destiny. However, we cannot continue to invest blindly, based on feelings, and without direction. This is no different from gambling.
As the Bitcoin halving event approaches, the cryptocurrency community is full of expectations for the upcoming bull market, and the high-profile meme coins have also attracted the attention of investors.
in:
Dogecoin
Shiba Inu
Dogwifhat
Pepe
Meme coins such as Floki are particularly eye-catching.
Dogecoin (DOGE)
Dogecoin (DOGE), inspired by the viral doge meme, has been a standout performer over the past year. With a market cap of $20.67 billion, it ranks ninth in the cryptocurrency rankings, making it the top meme coin. Despite the recent price decline, Dogecoin still has the potential to rise significantly by 20 to 50 times after the halving.
Shiba Inu Coin (SHIB)
Shiba Inu is based on the Ethereum network and is showing strong growth in the decentralized finance space. Although it has experienced a slight correction recently, SHIB is still likely to rebound significantly after the halving, with an increase of 20 to 50 times.
Dogwifhat (WIF)
Dogwifhat has gained traction in the Solana ecosystem, with a market capitalization of $2.23 billion. Despite minor setbacks, Dogwifhat has maintained significant growth momentum, making it a strong contender for a possible major rise following the halving.
Pepe(PEPE)
Pepe is a new meme cryptocurrency on the Ethereum network that aims to follow the success of other meme coins. Despite the recent price decline, Pepe still has a market capitalization of $2.02 billion, making it a promising investment opportunity.
Floki（FLOKI）
Floki has evolved from a meme coin to a key player in the web3 field, actively involved in metaverse, decentralized finance and NFT. Poised to surge post-halving, Floki continues to combine internet culture with innovative projects.
