Well, here is my analysis.
1- Bitcoin (BTC) and Crypto Market Cap (TOTALCAP) reached new yearly highs on November 27 but have since fallen.
2- FTX Token (FTT) has experienced a decline after creating a lower high on November 23.
3- The son of ECB president Christine Lagarde reportedly lost nearly 60% of his cryptocurrency investments.
4- Challenges faced by the SEC in serving a lawsuit against HEX founder Richard Heart, who allegedly resides in Finland.
5- TOTALCAP increased inside an ascending parallel channel since November 7, reaching a new yearly high of $1.42 trillion on November 24.
6- TOTALCAP faced rejection at the channel’s resistance trend line and is approaching the midline at $1.38 trillion.
7- The six-hour Relative Strength Index (RSI) is at 50, indicating an undetermined trend.
8- BTC price has followed an ascending support trend line since November 6, reaching a new yearly high of $38,437 on November 24 but failing to sustain the increase.
9- The six-hour RSI for BTC is at 50, with a potential 10% increase if it breaks out from the ascending triangle to the next resistance at $41,000.
10- Failure to break out may lead to a 3.50% drop to the ascending support trend line at $36,000.
11- FTT price has fallen since reaching a high of $5.53 on November 10, facing rejection from the $4.80 resistance area on November 23.
12- FTT fell below the minor support level at $4, and further downward movement could result in a 20% decrease to the closest support at $2.90.
13- Reclaiming the $4 level for FTT could lead to a 30% price increase to the next resistance at $4.80.
14- The analysis concludes with a disclaimer emphasizing that the information is for informational purposes only and not financial or investment advice, encouraging readers to conduct their own research and consult professionals before making financial decisions.
#cryptocurreny #CryptoMovement #CryptoSurgeTrend
