Has Bitcoin (BTC) stopped falling? Will it fall again? The ETH ecosystem is rising across the board. Can it lead the altcoins to take off this time?
The current Bitcoin market is still in a bull market. The overall trend shows that BTC is still on the right side of the long-term upward trend line, and the big trend remains unchanged. Once a bull market is formed, it is difficult to change. Only when it enters a bear market will the trend change. For the next trend of BTC, we can make the following observations:
1. BTC is currently in a volatile market, forming a slightly downward-sloping parallel channel, and the shorts continue to weaken.
2. In the week of April 15, the closing price was a hammer line, marking the end of the market decline, followed by a small real K-line. The price did not break the previous low, the volume was reduced, and it showed an inertial decline.
3. From the Bollinger track, the BTC price has been running in the upper middle part, which is an upward trend.
4. After multiple declines, it failed to break the support, and a long lower shadow appeared at the close, indicating that the support below is strong.
Although the current BTC short force has weakened, the bulls have not yet shown signs of volume. However, from the overall comparison of long and short forces, the above observations all show that the bulls are strong. In addition, the current trend of BTC is a bull market, which will have a background increase in the market trend. The stop-loss signal has appeared, and we need to wait for the reversal signal. The stop-loss signal indicates that the market has stopped falling, while the reversal signal means that the market is about to rise. The bearish sentiment in the market is increasing, but whether the bull market is over remains to be seen.
The Ethereum ecosystem shows a general rise
In the early morning of today (28), the Ethereum ecosystem showed a general rise.
$ETH rose 6.5% in the past 24 hours, temporarily reported at US$3,307 as of press time, and the SSV token performed well, temporarily reported at US$50.84, up 15.8% in 24 hours. Ethereum expansion plans $OP and
$ARB rose by 14% and 10% respectively in a single day. In addition, $ETHFI in the LST track rose by as much as 21.4%.
This year's market can only be said that the big cake has gradually fit in with the US stock market. It is no longer the big brother who once led a group of copycats to eat meat. All hopes are pinned on Ethereum. Since the launch of ETFs, the cost of institutions, the cost of absenteeism and the economic environment of the United States are unlikely to cause a sharp drop in the price of bitcoin. I think so.
So if there is no big black swan, don't expect any gold pits. This is already unrealistic. Give up fantasy and embrace reality, and make a long-term milestone. I think the price of ether is obviously a means for capital to suppress funds and concentrate on BTC, but everyone thinks that ether is not good. Wait more and look forward to it.
The rebound of ETH and other cryptocurrencies is not only due to the launch of Hong Kong ETF, but also because market news shows that Franklin Templeton Ethereum ETF (EZET) is listed on the DTCC website. This news stimulated market sentiment and led to an increase in ETH prices.
The current Bitcoin market is still in a bull market. The overall trend shows that BTC is still on the right side of the long-term upward trend line, and the big trend remains unchanged. Once a bull market is formed, it is difficult to change. Only when it enters a bear market will there be a trend change. For the next trend of BTC, we can make the following observations:
1. BTC is currently in a volatile market, forming a slightly downward-sloping parallel channel, and the shorts continue to weaken.
2. In the week of April 15, the closing price was a hammer line, marking the end of the decline in the market, followed by a small real body K line. The price did not break the previous low, the volume was reduced, and it showed an inertial decline.
3. From the Bollinger Track, the BTC price has been running in the middle and upper part, which is an upward trend.
4. After multiple declines, it failed to break the support, and a long lower shadow appeared at the close, indicating that the support below is strong.
Although the current BTC short-selling power has weakened, the bulls have not yet shown signs of increasing volume. However, from the overall comparison of long and short forces, the above observations all show that the bulls are strong. In addition, the current trend of BTC is a bull market, which will have a background increase in the market trend. The stop-loss signal has appeared, and we need to wait for the reversal signal. The stop-loss signal indicates that the market has stopped falling, while the reversal signal means that the market is about to rise. The bearish sentiment in the market is increasing, but whether the bull market is over remains to be further observed.
The Ethereum ecosystem shows a general rise
In the early morning of today (28), the Ethereum ecosystem showed a general rise.
$ETH rose 6.5% in the past 24 hours, temporarily reported at US$3,307 as of press time, and the SSV token performed well, temporarily reported at US$50.84, an increase of 15.8%. Ethereum expansion plans $OP and
$ARB rose by 14% and 10% respectively in a single day. In addition, $ETHFI in the LST track rose by as much as 21.4%.
This year's market can only say that Bitcoin has gradually adapted to the US stock market. It is no longer the big brother that used to lead a group of copycats to eat meat. All hopes are placed on Ethereum. Since the launch of ETFs, the cost of institutions, the cost of miners and the economic environment of the old US are unlikely to cause Bitcoin to plummet. I think so.
So if there is no big black swan, don't expect any gold pits. This is already unrealistic. Give up fantasy and embrace reality and make a long-term milestone. I think the price of Ethereum is obviously a means for capital to deliberately suppress funds to concentrate on BTC, but everyone thinks that Ethereum is not good. Wait more and look forward to it.
The rebound of ETH and other cryptocurrencies is not only due to the launch of Hong Kong ETFs, but also because market news shows that Franklin Templeton Ethereum ETF (EZET) is listed on the DTCC website. This news stimulated market sentiment and led to an increase in ETH prices.
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