Reveal! Bitcoin support is as solid as a rock, and the plunge is just a cloud!
Today, let's talk about the changes in Bitcoin's market. Recently, Bitcoin has experienced a decline after a wave of highs, which has caused market concerns. However, we must look at this phenomenon rationally and not panic blindly.
First, pay attention to the resistance level of Bitcoin. At present, the first resistance level is at 67,750, which is the middle line of the daily Bollinger Band. If this position can be effectively broken, the price of Bitcoin is expected to return to a safe range, and the bullish sentiment in the market will be boosted. In addition, the second resistance level of 68,500 and the third resistance level of 72,800 are also worth paying attention to. In particular, the upper line of the weekly Bollinger Band is around 74,000, which will be an important level to test whether Bitcoin can set a new record high.
In terms of support, we should focus on the first support level of 65,000. This position has a strong support strength. If it fails to break effectively, market confidence will be maintained. In addition, although the second support level of 62,500 and the third support level of 61,300 have weak support strength, they may become short-term buffer zones in the market if the overall market does not turn bearish.
At present, the weakening of Ethereum has had a certain impact on the Bitcoin market, resulting in an increase in the ratio of Bitcoin to Ethereum. However, this is mainly affected by Ethereum's own factors and the uneven distribution of market funds. With the continuous development of the Bitcoin ecosystem, a large amount of funds have flowed into Bitcoin and its related fields, causing a certain shortage of funds in the market. But as long as Bitcoin can maintain volatility and stabilize, there are still many narratives and hype points in the cottage market that are worth looking forward to.
At present, the rebound trend of Bitcoin is basically in line with expectations. After the data is released, the landing of negative sentiment will help the market rebound. Investors should pay attention to the breakthrough of key resistance and support levels to formulate reasonable investment strategies. In contract trading, it is best not to blindly chase the rise and fall, and decisions should be made based on the actual situation of support and resistance levels. For spot investors, Bitcoin's stabilization of the daily Bollinger Band midline will be an important signal for the market sentiment and technical trend to improve.
Additionally, as Bitcoin stabilizes, the altcoin market is expected to see better rebound opportunities over the weekend.Investors should maintain patience and confidence, pay close attention to market dynamics, and seize investment opportunities.
In the bull market, we have formed the best small circle on the entire network, shared our experience and strategies for free, and followed the bull market deployment closely, whether it is a slow bull stage or a sector rotation. In addition, during this period, we have screened a potential coin in a hot sector and are ready to ambush. During the halving of Bitcoin, it is likely that it will be more than ten times, which is not a problem.
