Yesterday in the crypto world, the focus was still on Bitcoin's performance. Bitcoin experienced a consolidation phase while maintaining high levels, with most major trends being weaker than Bitcoin. Bitcoin is about $1500 away from its previous high, and it feels like it could break the new high at any moment. Indeed, it broke it this morning, but after breaking the high, the short-term growth may be limited, and it still needs to pull back for solidification. This article is just a personal review and does not constitute any investment advice.
Bitcoin is predicted to consolidate around $105,000, with daily lines continuing to rise and break highs, but it won't deviate too much from the previous high. It is expected that there will be a significant pullback before the 27th. The market cap of $BNB is expected to fluctuate between $700 and $740, showing overall weakness yesterday. To see a breakout, we need to wait for Bitcoin's consolidation after the breakout, especially since the recent airdrops have not driven the price up, and there might be a slight drop when the airdrops end. For Ethereum, the continuous accumulation by institutions at $ETH can still be expected, making it suitable for buying on dips, especially once Bitcoin breaks the new high, which will create more growth potential.
Here are some important news updates:
1. The 'Understanding King' stated in an interview with CMBC that the U.S. will leverage cryptocurrency to achieve great things, aiming to become a leader. He also mentioned that the U.S. will strive to maintain its lead in the field of artificial intelligence. Regarding whether there will be a Bitcoin strategic reserve similar to the oil reserves, he said, yes, I think there will be.
2. French Hill, a U.S. Congressman from Arkansas (a crypto supporter), defeated three competitors to win the position of Chairman of the Financial Services Committee.
3. The former Prime Minister of Thailand suggested researching the use of Bitcoin and government bond-backed stablecoins in tourist areas.
Returning to today's daily market analysis $BTC , from the candlestick perspective, the 1-hour level is bullish, the 4-hour level is bullish, the 12-hour level is bullish, and the daily level is bullish, with an intraday resistance level at $107,500 and a support level at $103,000. The overall judgment is that if Bitcoin breaks the high without significant volume, the increase after breaking the high may not be substantial, and a significant pullback may occur. At this time, do not open contracts recklessly to avoid being liquidated. #BTC再创新高 #纳斯达克100指数宣布纳入微策略