In recent days, BTC and the entire cryptocurrency market have been falling. Are you feeling a bit anxious? It's normal for the market to go up and down; the key is to analyze calmly and not panic at the first sign of a drop. We need to be rational! Yesterday, there was big news that the U.S. government plans to sell BTC from Silk Road, and the market immediately panicked, leading to a surge in short-term fear. Additionally, the market had previously surged too much, and now it's in a correction phase. Some funds also withdrew to avoid risks before the new administration took over.
So, what should we do next? Will BTC continue to fall? What if our contracts are stuck? Let's review and have some fun; this is not investment advice.
$BTC is expected to adjust between 91,000 and 96,500. Looking at that K-line, it seems we're close to a correction. However, the funding rate is negative, and most people have turned bearish, so it may drop a bit more. That said, the K-line has already tested the lows twice, leaving little room below. Moreover, this is a bull market, so even if it drops significantly, it will bounce back quickly. Any price below 93,000 presents an opportunity that should be seized as much as possible.
Now, let's talk about $BNB, which is expected to consolidate between 680 and 720. It's quite strong! Why? Because it has value support! In the short term, platform coins have become a safe haven.
Then there's $ETH, expected to fluctuate between 3,100 and 3,550. It moved similarly to BTC yesterday but weakened later at night. Its volatility will likely narrow a bit moving forward. Among mainstream coins, it has a relatively high 200-day moving average.
Now let's discuss today's daily BTC technical analysis. From the K-line perspective, the hourly level is bullish, the 4-hour level shows signs of a bottoming out, the 12-hour level is bearish, and the daily level is bearish. The intraday resistance is at 95,300, and the support level is at 91,000 dollars.