Tether Treasury has minted 1 billion USDT on the Ethereum network, bringing the total minted this month to 18 billion USDT.
After hitting a high of 2789, gold fell for 2 weeks, rebounded, and was then suppressed again. In the short term, there is a possibility of a volatile pullback in gold prices. Therefore, some friends have recently asked whether they can still invest in gold. Personally, I tend to wait patiently for a good adjustment before getting involved. Since breaking through the historical high in February, gold has risen for nearly a year, and chasing after the rise comes with the risk of a pullback.
In the U.S. stock market, the Dow Jones has set a new historical high of 45070, the S&P 500 index is at 6044, and the Nasdaq is also close to previous highs. Since October 2022, it has been on the rise, and since November 2023, it has shown a one-sided increase. It truly confirms that saying: be bullish on A-shares and invest in the Nasdaq. The U.S. stock market has shown fatigue after seven consecutive days of gains and is at the end of its strong momentum, while the A-share market has shown five consecutive days of decline, poised to take off like a star of tomorrow.
Big Cake
The big cake was rejected again after testing the downward trend line yesterday, showing a pullback in the short term. Currently, it is still near the previous high, and the monthly line is about to close, so pay attention to increasing market fluctuations. The daily BOLL is contracting, facing a potential change in trend, and both MACD and RSI have shown divergence, so be mindful of the risk of false breakouts. There is a head and shoulders bottom pattern expected in 4 hours. After breaking through last night, pay attention to whether it can support the rebound, and the key Fibonacci level of 0.382 basically coincides, so it must not break below the 96500 line.
Overall, the trend is still leaning towards a range of 90800—98500. The time and space adjustments are still not enough. There will be opportunities to fall to 83000—90800, which can be an opportunity to increase positions in batches.
Support: Resistance:
Ethereum
Ethereum's recent performance is overall quite strong, with the big cake leading the rise. When the big cake pulls back, Ethereum compensates by rising, which also aligns with our statement that the big cake is experiencing high-level volatility while Ethereum leads the altcoins to have opportunities for compensation.
The daily BOLL is opening up, and the previous two engulfing candlestick patterns have been broken. There is a probability of continuing to break through 3684, but the big cake is expected to have a volatile pullback. Ethereum's rise can only be short-term, including altcoins, and the best medium-term layout opportunity has not yet arrived.
Support: Resistance:
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The article is time-sensitive and for reference only, updated in real time.
Focusing on K-line technical research, we win together in global investment opportunities. Public account: Trading Prince Fusu
