Today's Quotes:
Bitcoin fell below the support level of 68,000 last night, resulting in the failure of the upward wave pattern. It is currently oscillating between 73,000 and 60,000. After the shock ends, it is expected to start a new rise.
In the past day, the highest price of bitcoin was 71230 and the lowest was around 64850 (European Exchange spot price 8:00-8:00), the real-time over-the-counter oil price was 7.45, and the European Exchange long-short position ratio was 1.61.
Judging from the current hourly K-line chart, the strength indicator has slightly recovered from oversold conditions, the MACD has entered a weakened kinetic energy below the zero axis, the trading volume has increased significantly year-on-year, and the short sellers have dispersed after the moving average broke out of the tight encirclement pattern.
In the four-hour K-line chart, the strength and weakness indicators began to become blunt at a low position, the MACD double lines officially entered below the zero axis, the trading volume increased significantly year-on-year, and the moving average pattern gradually turned to the short direction.
Technical analysis: The daily RSI slope is 41%, which indicates that sellers are leading the current price trend of ADA.
The rising structure is still bullish and we are looking at new highs. It is still in a oscillation and washing out. It depends on when a line will be pulled up directly or when it will pull back, which will be a buying opportunity.
Emotional analysis: I didn’t expect to see a bull market with no tariffs. Last time it was 312 and this time it was 413. Will the next bull market be 514? You can observe that the mood when seeing this situation is the most important. At this time, you must be hesitating whether to "cut losses for defense" or "buy the bottom and lie flat".
I thought about it for the whole night and still felt that "panic > needle", because as long as there is another bombing, the fear will start to disappear. But I believe that the current backtest is basically still mostly profitable, so keeping U will be a relatively safer choice. The high cost is always better than being trapped.
3 Cryptocurrencies That Will Rise 100 Times After Adjustment
1. DOGE
The cryptocurrency with the highest open interest is Dogecoin (DOGE). The leading meme token has surpassed $1.55 billion in open interest on the derivatives market, indicating high volatility ahead.
Holding Dogecoin is much stronger than other altcoins. It can withstand this wave of Bitcoin pullback. After it survives, spring will come. Although the capital drawdown is large, I believe that as long as we can survive April and May, the big market will come. Assuming Bitcoin is 83,000, Dogecoin will at least be between 0.3-0.4, and there will be a profit of 70-150%, while Bitcoin only has a profit of about 30%. You can calculate which one is bigger. When Bitcoin is 108,000, Dogecoin will be at least 0.5-0.7 and then will accelerate to 1.3-1.5 US dollars. Just hold on to it. At least Dogecoin will not return to zero. Every bull market will reach a new high. One of the largest meme coins also represents the same nature as Bitcoin and will not return to zero.
2. SUN
The price of SOL dropped to the $150 mark within a week but has recovered to $152.10 at the time of writing.
Solana’s price has surged more than 660% in the past six months and is up more than 65% year to date. Our analysis shows that there is also a bullish divergence on the four-hour chart of the Solana/Bitcoin pair, indicating that while Solana’s price is trending down relative to Bitcoin, the relative strength index (RSI) – a technical indicator that measures market momentum – is trending up.
Cryptocurrency analysis data is strongly optimistic about Ethereum (ETH) competitor Solana (SOL). Solana's price has surged by more than 700% in the past six months, and analysts believe the trend will continue.
Brentz utilizes the Elliott Wave Theory, a technical analysis framework that suggests that an asset's price action unfolds in a specific five-wave pattern. The Elliott Wave Theory is a popular form of technical analysis that posits that market trends unfold in repeating cycles driven by investor psychology. These cycles typically consist of a five-wave advance in the dominant trend direction, followed by a three-wave corrective phase.
This suggests that Solana’s price against Bitcoin is about to reverse, meaning that the smart contract platform could soon begin to outperform the flagship cryptocurrency once again.
3. THERE IS
Cardano (ADA) has accumulated a lot of short interest after losing its position in the top 10 cryptocurrencies by market cap. With this in mind, ADA has the potential to surge above $0.68 from its current level of $0.58. If these short positions are forcefully closed, then the price could rise by as much as 17.25%.
ADA price is trading at the neckline support of the head and shoulders pattern, suggesting that sellers may lead the continued downtrend
The daily price chart shows that the ADA price trend has formed a head and shoulders top pattern with the neckline at $0.567. In theory, this pattern usually appears at the top of the market, reflecting the increase in selling pressure in the market. However, bull support has led to a rally in the coin and indicates a potential high momentum uptrend. With the bearish pattern failing to play out, the ADA price offers the possibility of a double bottom as it tests a long-standing support trendline.
Currently, the ADA price is trading at $0.50, down 1.93% on the day, reflecting the increase in overall supply pressure. However, the signs of low price rejection formed by the tail suggest a potential bullish reversal. The neckline of the bearish pattern coincides with the support trendline and the $0.567 level. This reflects the play of key points for ADA that may determine the future price trend.
If a double bottom reversal is successful in pushing the price higher, the ADA price could reach $0.68.
in conclusion:
In short, it is recommended to wait and see today, wait for the decline to be completed and stabilized before participating, and pay attention to the support level near 62,000. The current market chooses to fall, so it is recommended to wait and see patiently.
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