Yesterday, BTC surged to a high of 102,724, then performed a dive in the evening. It was exciting; this rise was supported by volume, igniting everyone's enthusiasm for the bull market, but then a cold splash came down last night, truly disheartening. The main issue is that the US stock market is weak, with Nvidia and blockchain leader MicroStrategy leading the decline, and gold is also falling. Indeed, when retail investors are overly enthusiastic, it is often the best time to harvest; a single trap can be set.
Now, everyone is eagerly watching the US side, hoping for some good news to be released in the middle to late of the month. However, this can also be considered a preliminary correction, which is a good sign. I hope this sharp drop is the last shakeout before a big bull run. This is for reference only and does not constitute any investment advice. Overall, the market trend was that it dropped to near $96,000 last night, but since there was no spike, it may not be the bottom yet. If it really falls below $95,000, buy in with closed eyes and buy more as it drops! Those without positions shouldn’t rush to short, and definitely shouldn’t take large positions to chase highs and lows. Stay steady!
Next, let's talk about $BNB, which has shown relatively stable performance. While Bitcoin dropped by 5 points, $BNB only fell by 3 points and is expected to consolidate between $690 and $740. MEGADROP has locked a lot of $BNB, which reduces the impulse to sell, which is good for our long-term holding friends!
Next, let's take a look at $ETH, which is expected to fluctuate between $3,300 and $3,600. The recent trend has been weak; a few days ago it was praised for being stronger than Bitcoin, but last night when Bitcoin fell, $ETH also plummeted significantly. Truly a difficult situation! Let's just wait and see; it’s better not to over-praise.
Finally, let's take a look at today's $BTC technical analysis. The 1-hour level shows a trend of stopping the decline and rising; the 4-hour and 12-hour levels show a downtrend, and the daily level is about to enter a down phase. The intraday resistance level is at $99,200, and the support level is at $945,000.
Invest in four cryptocurrencies that could explode 100 times in a bull market!
ICP
The Internet Computer Protocol (ICP) is a revolutionary blockchain designed to support decentralized applications (dApps) at internet scale. The native cryptocurrency ICP is currently trading at $11.08, maintaining a recent bottom support level of $9.76.
The daily chart analysis shows that the ICP price has formed a classic reversal pattern known as the cup and handle pattern. The chart setup indicates that the long-term accumulation phase is cup-shaped, temporarily pulling back into the cup handle pattern.
If true, this pattern should drive altcoins up by 80%, and may even challenge the neckline resistance level of $19.65. A rebound after a breakout could push the asset above $37.8, then to $56 and $74.5.
FET
The Artificial Intelligence Super Alliance is an important collaboration between Fetch.ai, SingularityNET, and Ocean Protocol, aimed at creating the largest open-source, decentralized AI research and development platform.
The combination platform currently follows the FET token code, with a current trading price of $1.41 and a market capitalization of $3.7 billion. Over the past ten months, the token price has fluctuated within two converging trend lines, indicating the formation of a symmetrical triangle pattern.
Generally, chart patterns will temporarily lead to consolidation before continuing the current trend and regaining bullish momentum. Influenced by this pattern, the FET price could rise by 40%, breaking above the trend line for a significant breakthrough.
TRUMP
TRUMP has shown strong momentum recently, with prices between $1.92 and $4.00. Over the past week, this coin has surged over 70%, indicating strong upward momentum. The coin is approaching its recent resistance level of $4.79. If it breaks this point, it may target the next resistance level of $6.88, which means a significant increase.
The 10-day simple moving average has crossed above the 100-day moving average, indicating a bullish trend. Since the stochastic oscillator is at a low level, there is room for upward movement. The current RSI is about 44, indicating that the token is not overbought. These factors suggest that the price may rise, consistent with the expected altcoin season.
UNI
The trading price of Uniswap is between $13.48 and $16.13, showing signs of consolidation. The recent resistance level is at $17, and breaking this resistance may push the price down to the next resistance level of $19.75. The 10-day and 100-day simple moving averages are close to around $15, indicating that a trend reversal may occur.
The RSI is at 43.61, indicating that the token is not overbought. The price has increased by 12.02% over the past week, suggesting strong momentum. With a 6-month increase of 86.01%, Uniswap may be preparing for significant growth. As the altcoin season approaches, UNI may be ready for a substantial increase.
