Bitcoin market analysis at 17:20 on May 10, 2024
Yesterday evening, the number of people filing for unemployment benefits in the United States was higher than expected, which was negative for the US dollar and bullish for the currency circle. Therefore, yesterday’s Bitcoin market showed the characteristics of first falling during the day and then rising at night, and continued to rise in the morning. Bullish sentiment is running high and altcoins are rallying. However, it is worth noting that the breakthrough and stabilization of this level is crucial to the subsequent trend of the market. Pay close attention to whether the bottom will fall back below 62200-62000 during the day, as shown in the figure, etc.
The Bitcoin market experienced significant fluctuations yesterday. Everyone should pay close attention to market dynamics and invest rationally.
