Happy Saturday, brothers! Analysis of Bitcoin and altcoin market trends!
Today's market is experiencing ups and downs! It really feels a bit difficult! The miner is here to analyze the subsequent trends of Bitcoin and altcoins for everyone!
Let's analyze the current trend:
$BTC is still fluctuating at a high level, and it seems that there won't be a significant drop or rise in the short term.
There are two key support positions below: 92000 and 90000, with a difference of 2000 dollars between them, so the closer we get to 90000, the stronger the support!
Above is the psychological barrier of the round number 100000, which has been tested twice but has not yet been broken. One hundred thousand is a major psychological price level for most people, and it is also the pressure point of the middle band of the daily Bollinger Bands, so the fluctuating market encounters pressure and retraces, while it rebounds upon hitting support.
Understanding the trend means having a strategy, which primarily involves selling high and buying low.
Now, let's look at altcoins:
Most coins will follow the trend of the leader, rising and falling with fluctuations, but as long as Bitcoin remains at a high level, funds will slowly flow into altcoins. What altcoins currently lack is a catalyst; as long as there is a hot topic, the altcoins in that sector will experience independent upward trends.
Others should continue to wait for their moment to shine. Currently, only a few small hot topics, such as $PHA , have tapped into some technical aspects of AI token issuance, making it a small spark amid a dull market, thus being favored by the market. However, if you cannot understand the technical aspects and lack cost advantages, it is difficult to speculate, so some opportunities, once missed, should not be worried about. Suitable opportunities will be posted; during other times, focus on short-term trading or reviewing!
Follow the miner, grow by eating meat, and have a long-term layout in contracts and spot trading!
