Today's market analysis:
BTC: The price of Bitcoin rebounded initially at the support level last night, which is an oversold rebound, but the potential for sustainable rise in the short term is not high. The first rebound after a sharp drop often has the possibility of continuing to bottom out, so short-term active bids are made in batches here, and caution is exercised in chasing up (see the picture for details).
On the daily chart, the closing needle here means that this downward exploration initially encountered resistance from the bulls. If it is a regular downward exploration, support has been formed in the area around 54930, and you can participate. The first support is 54930 (short), and the second support is 52400~50700. The first suppression is 57100~57380 (short), and the second pressure level is 59110.
ETH: Yesterday, the second lowest price in the short term was $2,820. I personally recommend reducing positions at this price point. It is your decision whether to follow it. The current view is similar to Bitcoin (BTC), with a long red lower shadow closing. Based on my experience, it is likely to continue to retrace downward to the lower shadow position and further contact the real column. Overall, I am still optimistic about the short trend after the rebound.
In terms of cottage:
SOL: I have accurately bought the bottom and sold the top several times. This callback reached the support range of 121~124 given the day before yesterday and then rebounded 10%+ smoothly. It is considered a leader among mainstream coins! I still follow the original idea. I will take the initiative to stop profit in the short-term rise here. I will consider the big opportunities after it stabilizes at 145. If there is a pullback, I will still use the mid-line support of 124~121.5 and the short-term suppression of 137.5~140.5.
PEOPLE: What happened to people coin? Why is it being criticized so badly?
ZRO: 4H is a typical case of a pullback to support and rebound. It is time to reduce positions at the current price.
RNDR: There is a high probability of a second exploration at this position. If you remove the low point, the profit and loss ratio will be much more comfortable.
Last night, the market started to correct, and many people were talking about bottom fishing. These copycat stocks have fallen so much that it is hard to tell where the bottom is. There are new lows at each stage. You said bottom fishing, but what kind of bottom are you fishing for? ?
At present, the market is only a short-term correction, not a rebound. We all know that there is no big fluctuation in the weekend market. How the market will move next still depends on the specific situation on Monday and Tuesday. Xiao Miao does not dare to make predictions easily. After all, this market will always slap me in the face. I only do what I think is right!
After each new low, the MEME token is always the one that pulls up the fastest. Today I will tell you about a few MEME coins that you can buy in the near future, for your reference only!
WIF
Dogwifhat shows strong correlation with Solana and is the#1meme coin on-chain. Therefore, all the reasons to be bullish on SOL also apply to WIF. However, WIF not only shows correlation with Solana, but also acts as a beta test for it.
SHIB
One analyst predicts that the price of Shiba Inu Coin (SHIB) could reach $0.000081. In his opinion, this goal and the probability of its achievement have not changed. He points out that the price of SHIB will continue to grow, the asset has already broken through the key resistance level and maintains the upward trend.
This means that Shiba Inu Coin (SHIB) is expected to rebound significantly from its current price. According to CoinMarketCap analysis, SHIB is currently priced at $0.000015, up 11% in the past 24 hours.
Despite the depressed market sentiment and the sharp drop in Bitcoin price, this shows that altcoins still have the potential for a quick recovery. Finally, the analyst said that SHIB is now ready to rise by more than 405% from the current price in a bull run.
BABY
Continuing on the theme of memecoins, experts continue to support Pepe as one of the best cryptocurrencies to invest in. In fact, its inclusion in the list is not surprising. Pepe’s market cap reached an all-time high of $7.1 billion. Due to the crypto market crash, its valuation is currently only $3.9 billion. This means that investors who buy Pepe on the dip today could earn a 2x return if this meme coin tests its all-time highs again.
That’s all for today’s article. We are currently in a bull market, and things are turbulent. We share passwords every day.
