BTC has been fluctuating downwards as its price drops, with the daily moving averages consistently moving lower, which has also affected the middle line of the daily chart. The short-term daily support level is around 90,900. If the price continues to fluctuate downwards, we can only refer to the support situation at the integer level of 90,000.
Currently, the BTC price has fallen below the concentrated chip area around 92,000-100,000, but it has not yet triggered the selling of upper chips.
Is the current pullback going to deepen? Should we be pessimistic again?
As the daily moving averages continue to decline, the constant downward movement of daily support is indeed making it temporarily impossible to form effectively, while higher-level weekly and monthly support is still at a certain distance from the current price, roughly around 78,000. Therefore, if the short-term price breaks below the daily range, there is indeed a possibility of further decline. However, we still need to look at the situation near the integer level of 90,000, mainly to see if the integer level activates market buying.
However, there is still no need to be overly pessimistic. Bitcoin has tested the 92,000 level five times, and each time it quickly rebounded. This time it is declining slowly. Currently, it has fallen below 92,000, breaking strong support, which may lead to an accelerated decline, but don't be afraid. If a rapid decline occurs, it will be time to pick up the pieces. The bull market is definitely here, so don't be afraid.
Last Friday's article predicted that the weekend altcoin market wouldn't be too bad. In fact, the altcoins did perform well, but it was based on the currency itself. If it weren't for Bitcoin's poor performance dragging down the market, there should have been a wave of activity this weekend.
The altcoin market is about to arrive, and the market is still differentiated. After going through several rounds of activity involving inscriptions, runes, AI, DEPIN, RWA, the TON ecosystem, the SUI ecosystem, MEME, SEC selections, presidential selections, ETF selections, NFTs, platform coins, DESCI, AI AGENTS, etc., the strongest narrative should have already been born, which is AI agents.
Others either lack liquidity, such as inscriptions, runes, and NFTs; or have a too small audience, like the SUI and TON ecosystems; or are unfriendly to retail investors, with expected returns not attractive enough, like various selections; or they cannot get value investors to discard their biases, like pure memes.
The reason AI agents are the winner of the strongest narrative is that this is a track that combines the liquidity of memes with the value narrative of building.
If early AI memes such as goat, fartcoin, act, etc., had meme attributes greater than build attributes, then late-stage AI agents have truly built attributes greater than meme attributes.
In the past month, frameworks like ai16z, zerebro, and arc have all had code updates and product iterations to prove themselves. Virtual can even create an ecological sector. Game, aixbt, luna, etc., are all projects with a market value of hundreds of millions. Many traditional value coin investors or VCs see these projects and accept them easily, just like they did with DEFI in the last bull market. Moreover, this sector has meme-level traffic support, so it's really hard not to succeed.
My prediction is that by 2025, AI agents will still be the strongest narrative in the entire altcoin bull market. At least three large-cap projects worth tens of billions will emerge from this track. If you missed the last DEFI SUMMER that made you a hundred times your investment, then this AI SUMMER will definitely not disappoint you. As long as you seize a potential stock, A8/A9 is not a dream.
