Yesterday's Market Review

Yesterday, Bitcoin continued to fall, in line with expectations. The macro environment + fundamentals are still negative. Currently, the 4-hour and daily lines have entered the oversold range. Yesterday's non-agricultural data did not show any obvious negative news. The decline should be stopped in a short time and a restorative market will be started. You can gamble on the oversold rebound opportunity. Pay attention to the rebound today. You can consider short-term spot gambling. The second Bitcoin fell synchronously with Bitcoin. It is still not very optimistic under the influence of the macro environment. The second Bitcoin is also seriously oversold. There is a chance of a rebound during the day. You can consider short-term gambling. The copycat sector fell synchronously with the mainstream. Most currencies fell sharply. It is mainly wait-and-see. Watch more and do less.

Intraday market analysis

BTC has entered the oversold range at the 1-hour and 4-hour levels, and the daily level has entered the oversold range. The impact of the macro environment is still there, the fundamentals and the shorts are still there, and the hawkish bearish market continues to be sluggish. The market has not reversed, and the decline has stopped in the short term. The market is repairing. The upper resistance of the day is 57000-58000, and the lower support is 55500-55800. Today's oversold rebound is more likely. You can consider short-term gambling and wait for a deterministic signal.

ETH 1 hour, 4 small moving averages have entered the oversold range, the daily level has entered the oversold range, the macro impact is still there, the chain is also sluggish, coupled with the hawkish bearish market continues to be sluggish, the market has not reversed, short-term stop falling, repair market, intraday upper resistance 3050-3100, intraday lower support 2900-2930, today's oversold rebound probability is greater, you can consider short-term game, waiting for a deterministic signal

Yesterday, BTC continued to fall, which was in line with expectations. Both the 4-hour and daily levels have entered the oversold range. The fundamental negatives are still continuing, but yesterday's non-agricultural data did not show obvious negatives. It is expected that the market will stop falling in the past two days, rebound slightly, and start a repair market, but market expectations are still not optimistic. In the short term, we can consider the opportunity of oversold rebound, waiting for the direction of the repair to end, and we still need to be prepared for defense. Today, we will pay attention to the rebound. The market has entered the final adjustment stage. The index has reached the panic level. The mining machine has fallen below the shutdown price. The cottage collapsed again. The market pessimism is full. This is the effect that the dog dealer wants. The bull market is still there. Stay optimistic and the future is still promising.

Yesterday, ETH fell synchronously with BTC, which was in line with expectations. There was fundamental news that ETF was delayed, and speculation expectations were extended again. However, the macro environment had a greater impact, and the positive effect of ETF was still weakened. Today, an oversold rebound is expected. Don't be blindly optimistic, wait patiently, be defensive, and wait for stabilization signals.

The altcoin sector fell synchronously with the mainstream, and most currencies had a large correction. The focus of this round of market cleaning by the dog dealer is all on the altcoins. The altcoin chips in the hands of most users are far higher than the mainstream chips, so the market cleaning is serious, creating panic and forcing users to hand over their chips. Today, pay attention to the rebound of the altcoins. You can consider following up lightly to gain a short-term rebound opportunity. The stop loss must be set well within 10%. There is no clear reversal signal in the market, and spot trading still needs to be cautious

Fundamental news: No major fundamental news today

Primary market information:

RGB++ has started free casting, and the recent on-chain activity has increased. RGB++ is also a very good new protocol, which has a good effect on the construction of BTC ecology. Continue to pay attention to this sector. The market continues to be sluggish. Wait for the sector to review its popularity before taking action.

The rune market is still sluggish. Pay attention to high-quality currencies in the rune market and wait for the second wash to start buying mainstream currencies to support and resist:

Today's intraday market, BTC's support is 55500-55800, and the upper resistance is 57000-58000. ETH's support is 2900-2930, and the upper resistance is 3050-3100.

3 Best Altcoins That Could Outperform Bitcoin in the Long Term!

SUN

Solana is an altcoin that stands out due to its speed and scalability, thus attracting more talented investors. The SOL token boasts a decentralized financial platform while outperforming similar alternatives due to its efficiency.

The platform offers a DeFi system comparable to traditional stock functionality and trading. It even allows developers to host smart apps and contracts.

One of the most common reasons we trust it is Solana’s stability during the crypto market crash after Bitcoin hit its all-time high. Apart from bringing innovation in the DeFi space, Solana also offers meager platform fees. It works hard to achieve its goals and has partnered with Google and Amazon to provide an accessible platform.

BCH

Bitcoin Cash (BCH) gained 143% in six weeks, surging from $260 to over $600 before experiencing a correction. On the weekly chart, BCH price formed an evening star pattern and struggled to stay above $500.

Recently, BCH price retested the critical level of $350 or the 50-day exponential moving average (50D EMA). However, strong buying pressure quickly drove BCH price back up. This successful reversal reflects huge underlying demand and foreshadows the formation of a Morning Star pattern in the weekly Golden Cross.

As the bullish momentum continues to build, the BCH price is currently eyeing the $600 level. The market momentum is expected to continue to increase and the price of this altcoin is expected to touch the $700 threshold.

ENS

Ethereum Name Service (ENS) is a decentralized domain name service based on the Ethereum blockchain that aims to simplify the use of blockchain addresses. Since its launch, ENS has steadily grown in adoption and usage, becoming an important part of the Ethereum ecosystem.

Since December 2023, ENS has performed very strongly, with the price rising from $8.81 to $30, an increase of more than 185%, and is expected to reach a new all-time high of $85.69 this year. As institutions like BlackRock begin to use Ethereum, demand for ENS may grow further, making it a valuable asset.

Recently, the cryptographic naming service provider announced the ENSv2 upgrade, which aims to improve the affordability, flexibility and scalability of ENS. The upgrade plan has been announced, but the specific release date has not yet been determined, which may have a significant impact on market prices.