#BNB创历史新高
Wednesday Afternoon Analysis
Yesterday, the cryptocurrency market was shaken by two major news stories.
The first was about the U.S. government transferring $2 billion,
The second was South Korean President Yoon Suk-yeol suddenly announcing a state of emergency,
As soon as these two pieces of news broke, the cryptocurrency market panicked, prices plummeting rapidly, at one point dropping by 30%, with Ripple suffering the most, directly crashing by 60%. Friends trading contracts probably felt their hearts in their throats.
But guess what? The situation has reversed again.
Bitcoin only dipped slightly, while those altcoins generally rose instead.
This indicates that the funds haven't fled; they are just circulating within the market.
Technically, Bitcoin jumped sharply from the 93600 position last night, returning to above 96000. Coupled with the strong momentum in the U.S. stock market, which has broken through previous highs, these are strong bullish signals. It feels like this rally could happen at any moment, so we should be firm in our bullish mindset.
Ethereum's recent performance has also been impressive, even stronger than Bitcoin.
On the daily chart, it has been steadily rising, and although it dropped yesterday, it quickly rebounded, reclaiming lost ground.
Funds are clearly flowing in, and after the adjustment, Ethereum is likely to break through the $3800 resistance level and reach new highs.
The current cryptocurrency market is truly experiencing historical volatility, with frightening increases and significant fluctuations.
However, this cycle of increases will eventually come to an end; it’s just hard to predict when.
What we can do is follow the trend and go with the flow!
By Thursday during the European session, if Bitcoin retraces to the 95000 to 94700 position, we can enter long positions, aiming for 97000 to 97500.
As for Ethereum, if it retraces to the 3580 to 3550 position, there will also be a buying opportunity, aiming for 3720 to 3760!
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