The United States plans to incorporate confiscated Bitcoin into its national strategic reserves.
This is quite significant:
Reduced selling pressure: The U.S. will no longer sell confiscated Bitcoins. Over the past 10 years, the U.S. could have potentially sold more than 200,000 Bitcoins into the market.
Now this potential sell-off pressure is gone, and market expectations are sure to rise significantly.
Invisible 'dividend': Every time the U.S. seizes a Bitcoin, there is one less in circulation.
The value of the Bitcoin assets held by ordinary holders like us is likely to increase.
Isn't this just like receiving an 'invisible dividend'?
Long-term lockup: These Bitcoins will be locked up for at least 4 years. If Vance comes to power, the lock-up period might even extend to 12 years.
This means that there will be even fewer Bitcoins in circulation, providing more support for price increases.
Global trend: In the next 1 to 2 years, many countries are expected to follow the U.S. and establish their own Bitcoin strategic reserves.
This 'Fear of Missing Out (FOMO) effect' will accelerate global recognition of Bitcoin.
Policy support: This policy from the U.S. clearly shows their support for Bitcoin development, which will push Bitcoin towards mainstream acceptance.
The U.S. stance might also influence other countries, leading to a global trend of accumulating Bitcoin reserves.
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Currently, the market is in a sideways consolidation phase in the short term.
After the price pulled back around 88,000 points, it hasn't made a new low.
So, if the support level is not broken in the short term,
the market's upward structural pattern is still quite optimistic.
As long as the short-term support level between 88,000 and 87,500 can hold,
there is still upward potential for the bulls.
Looking at the daily chart of Ethereum, it's a doji pattern, and within the fluctuations, there is an upward trend.
Now looking at the hourly chart, after a night of fluctuations, the KDJ indicator's three lines are slowly turning upwards.
The MACD indicator's bearish volume bars are also shrinking simultaneously, suggesting a short-term rebound within the day.
Trading suggestion: Long Bitcoin between 88,600 - 89,000.
Targeting 92,000 - 95,000.
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Recently, there have been new developments with Dogecoin: 👇👇
It has risen by 3.29%, now at $0.204 per coin.
However, trading volume has dropped by 45%, and everyone is in a wait-and-see mode.
The support level is at $0.18, which is the basis for its rebound.
The resistance level is at $0.205. If it breaks through this price,
it could rise to $0.245, representing an 18% increase.
Although this sounds a bit exaggerated, the Dogecoin community is incredibly strong, and there are huge whales entering the market.
For instance, a whale bought 530 million DOGE all at once, indicating significant future potential.
Everyone should pay close attention to the support and resistance levels. Once it breaks through $0.205,
Dogecoin might just explode! 💥💥
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The market trend slowed down after a slight recovery in the morning, and gradually stabilized. It is in the stage of sideways adjustment in the market.
After a sharp drop from last night to the early morning, it is normal for the market to be busy with corrections.
The Bollinger Bands showed a downward trend within four hours, and it has not yet reached the lowest point. It is expected that the market is accumulating energy and waiting for the shorts to explode again.
The market is running near the downward line. It is expected to continue the sideways state in the morning in the afternoon. The main force is optimistic about the volatility in the evening and early morning.
Youmi recommends continuing to enter the market at a high position and ambush, and operate the rebound short-selling idea.
Pay attention to the pressure level of 950/2680 in the medium and long term. If the market suddenly rebounds due to other factors, it indicates that the time for bottom-picking has come, and the pressure level will be looked up;
On the contrary, continue to explore the support level of 8.8-9W/2300-2400.
Short-term entry at a high position in the band, the target can be 910/2450, and it will be adjusted at any time as the market changes.
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The daily line turned into a cross star after rising continuously, the space further shrank, and the short-term upward momentum weakened
After opening today, it maintained a high level of repair and consolidation, which was different from the previous two days of opening low and moving high
Focus on the 99000 line pressure test on the top, and pay attention to the 96000 line support break change on the bottom
Operation suggestions:
Short in the 98700-98500 range
The target is 97500-96500, and the defense position is set at 99000
(The market is changing rapidly, the above content is for reference only!)
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