Good evening, family: US stocks have opened. Do you see BTC as bullish or bearish?
Recently, a DEX exchange suffered a huge loss of around 200 million dollars, which is bearish for the market. We are worried about hackers stealing coins and crashing the market, but the on-chain tier one dog coin market remains hot, and the SOL public chain continues to be strong. The drop in Bitcoin does not significantly affect it. It is very resilient and should be a key focus moving forward. SOL is expected to hype up ETFs and may reach over 500 dollars by the end of the year.
Market analysis:
$BTC Bitcoin has been consolidating at a high level. Looking at the four-hour cycle, there is a very obvious upward trend. Yesterday's market rise will retest the trend line. It is advisable to short at high points, with a profit margin of 2000 points. Today, the market pushed against the resistance level of 92500 but began to pull back due to the resistance above. Next, it will make another attempt to rise. Watch the resistance levels above: 91800～92500. If the US stock market continues to fall tonight, Bitcoin will struggle to hold the 90K level. Support levels below: 88700～87100～86100.
$ETH I don't want to look at Ethereum; it's a coin that makes me sad. Personally, I feel indifferent to this round of bull market. The ecosystem has been stagnant and has not shown any decent performance. It may also be due to SOL's advantages surpassing it, which has severely impacted its development and ecosystem. Both project teams and users have left. Let's see how it performs after its ecosystem upgrade conference. Currently, the formation is weak. If this round of bull market cannot break the historical high of 4877 by the end of the year, there will be nothing to play with. Institutional investors no longer have consensus. The current trend continues to form a one-hour downward trend. If it does not stand above 3100 tonight, the market continues to look bearish. Pay attention to the resistance levels above: 3100～3130～3212. If Ethereum cannot rise above 3100, continue to be bearish. Watch the support levels below: 3024～2951～2882.
$SOL Strong players remain strong. When choosing cryptocurrencies, we should select ones like SOL, which have a large ecosystem, popularity, funding, and many users playing with dog coins. The recent collapse of a tier one DEX exchange did not significantly affect it. Therefore, we must layout positions for this coin. If it makes money, I'll let you know in the comments. Market trends: currently, pay attention to the resistance levels above: 242.13～247.57. If it stands above 242 tonight, continue to be bullish; if it can't hold, there will be a small pullback. Watch the support levels below: 236.36～232～228.48.
$DOGE's performance follows Ethereum. The formation is not very pretty, but I have to say that after Musk's support, the outlook is undoubtedly bullish. If it drops, look for an opportunity to enter. Market attention: resistance levels above: 0.383～0.404～0.417. If it cannot break above 0.383 tonight, the market will continue to pull back. Support levels below: 0.352～0.341～0.328. If it breaks the third support level, the market could see around 0.3 where spot buying can be done in batches.
