BTC continued to oscillate around the 96k center overnight, waiting to converge with the 30-day line.
Bitcoin has been fluctuating below $100,000 for about ten days.
At present, a high-level triangular oscillation structure is gradually being constructed. The following predicts the two most likely oscillation routes.
1. If it is the first type, then the period of shock is almost over and the market is about to break through and choose the direction
2. If it is the second type, continue to switch to the oscillating structure, with $91,500 as support, and then start to rise
Of course, there are third and fourth possibilities, but we need to gradually deduce the future shock state over time, but the bottom line is the $86,000 support! Once the price falls below this support, I don’t understand it. At least the current upward trend is well maintained.
As Bitcoin fell into high-level shocks and formed a shock structure to exchange time for space, Ethereum took over to stabilize the general trend, and strong altcoins pulled the market and made trouble. This state is the situation of a bull market. The altcoin season has just begun, and it has gone up by 25% at most. Don't panic. Looking at this green market, Bitcoin burned itself and illuminated the entire altcoin market! Is this the altcoin season you are looking forward to?
Recently, although Bitcoin and Ethereum have been fluctuating slightly, some altcoins have performed quite well and have become the focus of the market.
HBAR surged 171%, ONDO surged 60%! (As mentioned above, no more explanation)
Like XRP, HBAR, VET, EOS, etc., the increase is more than 30%. Of course, SOL is included. That is, ETH is not so powerful. Hurry up, this copycat leader. The new public chain does not seem to have a big voice. It has basically been falling and fluctuating for several months. Take a look at the public chain projects that have landed on Binance since 2022 (excluding ETH's L2 for the time being), sui, sei, ntrn, tia, alt, axl, w, saga, tao, omni, lumia, scr, kaia, apt, bb, manta, and see if there are any missed ones. There are many that have their own ecosystems, some of which have been listed on major exchanges such as CB, Upbit, Bithumb, and some are also related to the RWA concept. After a quick look, they have basically risen since August, among which sui and kaia have risen well. Look forward to the follow-up of these.
New public chain projects will definitely be hyped, and this is a hype narrative that has lasted for four years. I have mentioned the above new public chain projects for a year. For example, OMNI and ALT, which are supported by Jump Investment Platform, have also pulled some recently after landing on Binance. In the next four years of Trump and the loose market, the next "sol" and the next "inj" may be born in it. Keep paying attention. Of course, the public chain projects that continue to land on Binance, especially the public chain projects with good fundamentals in the second-tier exchanges, will also continue to pay attention. They are all opportunities.
