Last night’s market fluctuations were a real roller coaster! The recent movements of Bitcoin have been a bit perplexing, so let me clarify. Basically, the trend is still hovering around the range I mentioned yesterday, with prices slowly climbing. First, Bitcoin may rise again, but it needs an influx of funds and good news to push it further up. Additionally, the performance of US stocks is also worth paying attention to; if US stocks experience volatility, Bitcoin may also follow suit and could see significant fluctuations.
If you have some spare money, consider adding to your position when the price of Bitcoin drops below $92,000, but also be prepared to have enough funds left for averaging down if the price falls to $80,000. The current decline does not mean there won't be a rebound; funds and positive news are still on the way, so it is not advisable to go fully short, in order to avoid missing future upward opportunities.
Next, let’s talk about BNB, which is currently fluctuating between $670 and $720. The 63rd airdrop is about to end, and many may choose to sell BNB, which is a normal operation. If you are a long-term holder, you might consider selling at a higher price and buying back after the airdrop ends; doing a wave operation can also be a good choice.
Lastly, let's talk about Ethereum (ETH). Currently, it is fluctuating between $3,200 and $3,600, showing slightly stronger performance than Bitcoin. Although it is also consolidating, in the short term, its trend is somewhat stronger than that of Bitcoin.
Daily BTC Technical Market Analysis: From the candlestick chart, the 1-hour level is quite chaotic, with ups and downs. The 4-hour level shows a downtrend, the 12-hour level is also down, and the daily level is declining, with an intraday resistance at $95,000 and a support level at $90,000.
3 potential coins are expected to explode by 20-50 times
Sol
Solana has become synonymous with speed and efficiency in the blockchain world. Given its ability to process thousands of transactions per second, it's no surprise that developers are flocking to this ecosystem. However, Solana is not just about speed; it also achieves scalability without sacrificing decentralization.
DeFi projects, NFT markets, and gaming platforms are thriving on the Solana network, making it a versatile choice for developers. Meanwhile, investors are attracted by its low transaction costs and expanding ecosystem. If you are looking for a blockchain that balances innovation with practicality, Solana deserves a place in your portfolio.
Sui
Sui is a highly anticipated breakthrough blockchain platform. It is designed for global use, offering security, robust functionality, and scalability. Sui uses a new object-oriented data model, enabling efficient transaction processing. It also utilizes the Move programming language, known for its security features. These innovations help Sui address challenges that other blockchains struggle to solve.
FTT
As attention turns to the upcoming expenditures, FTX token will become the most worthwhile cryptocurrency to buy. The price of FTT has risen over 255% from this year’s low. The token has broken through the key resistance level of $3.3897, which was the peak on October 7.
FTX token has risen above the 50% Fibonacci retracement level and formed a golden cross pattern. Therefore, with increasing speculation around dividends, the price of FTX tokens may see a bullish breakout. If the token rises above the double top of $4.1683, further gains will be confirmed. A drop below the psychological point of $3.0 will indicate further declines.
