BTC

Recently, Bitcoin has also behaved like altcoins, with many large fluctuations and spikes. Yesterday, it fell below $64,000, but rebounded quickly from last night to today. As of writing, the price of Bitcoin is $66,973.

  • 4-hour pressure level: 67114～68256

  • 4-hour support level: 65060～65774

The volume of Bitcoin has shrunk within the 4-hour K-line period, and the K-line shows a head and shoulders bottom pattern.

Short-term operation strategy:

  • Entry point: Place an order to enter the market when the price pulls back to the important support level of the head and shoulders bottom.



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When will ETH stabilize?


The listing of this wave of ETFs perfectly illustrates the phenomenon of "good news landing". Ethereum's trend is expected to replicate the pattern when Bitcoin ETF was approved, falling first and then rising. In simple terms, when Ethereum ETF continues to have positive inflows, it will be considered stable.

Currently, the trading situation of Ethereum spot ETF shows that it is gaining favor among more and more investors. The increasing trading volume of ETFs indicates that the market's recognition of this investment method is increasing. Grayscale Ethereum Trust's leading position in trading volume further demonstrates its influence and appeal in the market.

Maintain your view that ETH's future performance is still worth looking forward to, and cherish the opportunity of a pullback.

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Explosive altcoins: 3 altcoins that will increase 100 times in the future!


1. YUP


Jupiter (JUP) is showing strong bullish momentum and is trading between $0.904 and $1.18. The price is currently above its 10-day and 100-day moving averages and is close to $1. The nearest resistance is $1.27, a breakout of which could push JUP towards the second resistance at $1.55, indicating a huge growth potential. JUP has risen by about 10% in the past week, 35% in the past month, and more than 3,200% in the past six months, indicating that JUP has further room to rise.

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2.INJ


Injective (INJ) shows strong potential despite the overall market decline. Currently trading between $23.31 and $29.87, bulls are showing strong momentum as the price has increased by 25.08% in the past month. The nearest resistance levels are located at $32.29 and $38.84, suggesting that INJ could rise by another 30% or more. The relative strength index (RSI) at 59.09 supports the bullish outlook, suggesting that there is room for further gains before reaching overbought conditions. The positive momentum is expected to continue as long as the price remains above the 10-day simple moving average (SMA) at $24.79.


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3.ARB


Arbitrum (ARB) traded between $0.7 and $0.83, with bulls resisting a minor pullback. The price is currently trading close to its simple moving average of $0.78, indicating a possible breakout. Bears appear to be weaker, with the RSI near neutral at 47.61 and the Stochastic at 30.53, indicating room to the upside. A break above the nearest resistance level at $0.86 could see ARB rise to the second resistance level at $0.95, indicating potential growth of over 15%. Despite the recent decline, market conditions are ripe for a bullish altcoin season similar to 2021, with ARB set to rise significantly.


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