The reason for Bitcoin's consecutive two-day plunge may be due to Google. The latest news reveals that a quantum chip developed by Google has made a universe-level breakthrough in computing. In benchmark tests, the Willow chip completed a 'standard benchmark calculation' in under five minutes, while even the fastest supercomputers today would take '10 to the power of 25' years to complete this calculation—this number far exceeds the age of the universe.
If this chip is applied to Bitcoin mining, then the remaining coins will basically be mined out by this mining machine, leaving no room for other miners, which would completely kill off the miners, and decentralization would cease to exist, hence the panic sell-off.
It was also due to this news that the market experienced a major plunge in the early morning. This significant adjustment is very similar to the one on the 6th, with the timing also chosen for early morning, causing many to wake up and find their positions wiped out.
The purpose of the market makers is clear: to clear long leverage during the Asian trading session, keeping the market light so that they can smoothly initiate a rally. There is a saying in the market: 'When others fear, I am greedy.' Often, after a significant correction, it is the best time to enter the market, so stay steady and hold tight; the bigger the storm, the more valuable the fish!
Returning to today's daily $BTC market analysis, from the K-line perspective, the 1-hour level shows an uptrend, the 4-hour level shows a weak rebound, the 12-hour level shows a downtrend, and the daily level shows a downtrend. The intraday resistance level is $98,500, with a support level at $94,000.
Positioning these 4 altcoins for a future increase of 100 times!
DYDX
dYdX (DYDX) has experienced a significant increase, rising nearly 90% in the past month. It is currently trading between $1.78 and $2.16. The relative strength index is slightly below 31, indicating that the cryptocurrency is nearing the oversold area, which may signal a bullish reversal. The recent resistance level is at $3.47; breaking through this resistance level could push DYDX towards the second resistance level of $4.61, suggesting a potential increase of over 50% from current levels. Price changes over the week exceeded 21%, highlighting a positive trend. The simple moving averages indicate an upward trend, with the 10-day moving average close to the current price, supporting a bullish outlook.
IMX
Immutable's current price range is $1.58 to $1.80, indicating a consolidation state before a possible breakout. The RSI is at 28.43, suggesting it is oversold and ready for a rebound. Over the past month, IMX has surged 45.24%, demonstrating strong upward momentum. Breaking through the recent resistance level of $2.45 could push it towards the second resistance level of $2.83, reflecting a potential increase of about 25%. The 10-day SMA is $1.84, below the 100-day SMA of $2.04, suggesting a bullish crossover may be imminent. The MACD level is -0.0649, indicating a potential trend reversal. With the altcoin season approaching, IMX may continue to rise, capitalizing on bullish market sentiment.
STRUMP
Super Trump (STRUMP) has shown good upward momentum this week, with an increase of over 10%. STRUMP is currently trading between $0.001974 and $0.003849, approaching its recent resistance level of $0.004575. This upward momentum could push the price towards the next resistance level of $0.00645 and potentially double its value. Technical indicators suggest that the token is nearing the oversold region, hinting at a possible breakout. The 10-day and 100-day simple moving averages are closely aligned, which may signal the beginning of an uptrend. Despite a drop of over 20% in the past month, the recent positive trend indicates that STRUMP may be preparing for a strong recovery in the upcoming altcoin season.
MOG
Mog Coin (MOG) is showing strong upward momentum. Its price has risen by over 42% in the past week and over 70% in the past month. It is currently trading between $0.0000025 and $0.0000045, approaching the resistance level of $0.0000052. Breaking through this point could lead to the next resistance level of $0.0000072, bringing considerable returns. The RSI is at 38.51, indicating that the token is not overbought and may rise further. The 10-day moving average is closely related to the 100-day moving average, reflecting steady growth. As the altcoin season approaches, Mog Coin may see significant increases.
