After Bitcoin started to rise yesterday, it reached a high of around 58,100, which is also the limit of pressure.

Afterwards, the bulls took a break and waited, and the bears took advantage of the situation to suppress the market, bringing the price down by 2,000 points.

This is a normal market trend.

How will the market go next? Based on the analysis of volume, I think the probability of the market falling below 55,000 is relatively small.

Because the bulls are just taking a short break and the pull-up has not ended, there is a high possibility that it will rise again and touch the 58,000 level.

As long as there are no uncontrollable events such as black swans, the probability of the market moving in this direction is relatively high.

As for whether it will reach 60,000? This requires further observation of the volume of multiple parties.

Of course, the above is only a forecast for today and tomorrow’s market. There is a high probability that the market will fall below 55,000 this week.

At present, the market trend is still a shock bottoming out. Although it looks very depressed, there is still hope.

Generally, we do not predict short-term market trends because the short-term market trends are too disordered, and we do not want people to engage in short-term speculation or reduce leverage to make profits.

In this situation, the profit effect is very low. The only thing we should do is to buy at the bottom when the market falls, and at the same time keep enough spare cash for ourselves, which is the best way to deal with unknown risks.

5 altcoins that have surged 100x that you must buy before the big bull run!

1.FLOKI

Following the bullish reversal in the cryptocurrency market, FLOKI’s price has increased by 3.49% in the past day with a trading volume of $163.58 million. Moreover, it has increased by 5.89% in the past week with a year-to-date return of 262.24%. This highlights the long-term bullish influence in the cryptocurrency space.

The 50/200 daily EMA continues to be flat. Moreover, it hints at a possible golden crossover, indicating an increase in buying pressure on altcoins in the cryptocurrency market.

A bullish breakout could lead it to the upper limit of $0.000214 this month.

2.BEAM

After a brief period of weak price action, Beam price surged 7.89% in the past 24 hours. Despite a year-to-date return of -23.78%, this altcoin has gained significant traction over the past few days, indicating that the market’s bullish sentiment towards altcoins is rising.

The RSI indicator has recorded a sharp rise towards the midpoint and is showing a bullish convergence in the BEAM price chart. Moreover, the SMA is also showing a similar pattern, suggesting a positive outlook for the coming period.

If the market pushes the price above the resistance at $0.013525, BEAM price will be ready to test its maximum at $0.021475 in the coming weeks.

3.APE

APE price has bucked the market trend, rising 11.04% in the past day and 37.56% in the past week. Moreover, with a monthly gain of 35.56%, it ranks 109th with a market cap of $495.87 million.

The green histogram of the MACD indicator is significantly rising and its average value is trending upward. Additionally, Apecoin price has a positive outlook for the week with support from the 50-day EMA.

If the bulls continue to gain momentum, the APE price will recapture the $1 mark and move towards the resistance at $1.30 in the coming period.

4.FTM

FTM price has increased by 14.28% in the past day with a trading volume of $190.233 million. With this, it has broken its important support level of $0.390. With a market cap of $1.376 billion, this altcoin ranks 50th in the global cryptocurrency market list.

The MACD indicator shows a continuous rise in the green histogram and a bullish convergence of its averages on the 1D timeframe. This suggests a bullish outlook for the Fantom price in the coming period.

If the bull run intensifies, the FTM token price might drop towards its overhead resistance at $0.840 in the coming weeks.

5. DONE

Amid the bull market recovery, FET price surged 14.48% in the past day with a trading volume of $268.79 million, a gain of 90.23%. Moreover, it has risen by about 50% in the past 30 days. This shows that AI tokens have a long-term positive impact in the market.

The Relative Strength Index (RSI) has successfully retested the neutral point in the FET price chart. This has led it to record a sharp rise towards the overbought range. Moreover, the SMA has experienced a similar trend with the price, suggesting a positive outlook ahead.

A bullish breakout could push the price towards the $2 mark.