Attention! ! ! !
Attention! ! ! ! !
Last night, Bitcoin started near 57787 and launched a sleepless offensive, aiming directly at the high ground of 60910. This market trend is like running at a brisk pace, climbing steadily. Behind it, it coincides with the restart of the US ETF market this week. The vitality of funds is quickly activated with the arrival of the working day, and the market pulses accordingly.
Although this phenomenon seems to be daily fluctuations, if you analyze it deeply from the perspective of technical analysis, it is not difficult to find that a collective wave of recovery is quietly brewing. Looking back at the recent trend, after the sharp decline on August 5, the market quickly showed a strong rebound and quickly jumped into the overbought area. Naturally, it then required a period of adjustment to accumulate strength.
The correction last weekend just brought the price back to near the starting point of the rebound on August 5. The technical indicators of many crypto assets have bottomed out, and the market has once again slipped into the oversold range, indicating that the time for a new round of rebound has arrived. And this bottom pattern is particularly significant on the 12-hour time frame.
In addition, the recent explosive growth of individual small tokens, such as #SYS's sudden surge due to the upcoming launch of its contract on Binance, is actually the first sign of market recovery. From a technical perspective,#SYShas also experienced bottoming twice, with a solid rebound foundation and the catalyst of external favorable conditions, which enabled it to achieve such a sharp rise.
Although not all currencies enjoy the same benefits, rebound signals are widely seen on technical charts. Taking ETH as an example, it is preparing to hit the resistance level near 3200; while#WIFshows strong momentum to challenge 2.0. As for Bitcoin, its potential to break upward to the 66,000 range cannot be ignored.
If it can successfully stand firm this time, it will have a profound impact on the subsequent market trend. After all, if the trend continues to be weak and slides to a lower range, such as 42,000 or even below the 30,000 mark, it will not be what we want. Therefore, let us look forward to the recovery of the market together. The strong performance of many altcoins is also a force that cannot be underestimated. Here, only one or two are listed, and more exciting ones are left to the market to interpret on their own.
We share this valuable information with you unconditionally. If we have the same goal, then let's go hand in hand! ! !
