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0xPPP · 2023-05-12T12:18:44.000Z

The technology concept of U.S. stocks is still very strong these days. Thanks to the support of financial reports, Nasdaq continues to make small breakthroughs, but the intensity is not too strong, but it is not defined as a false breakthrough for the time being. But the encryption side is miserable. Not to mention that the copycats have been basically cut in half since April. Meme and brc20 collapsed immediately after Brother Sun called for orders. The pie fell below 26,500 during the day, and the market is not interesting for the time being. It is too early for the bulls to buy the bottom, and the Air Force needs to take a break for the time being. In the afternoon, Ethereum is still weak, but many copycats have started to rebound slightly. There is a need for short-term repair at this position, but it does not change the general trend. The general trend here refers to the fact that the trend of the big pie falling back on the daily level has not changed, and the current exchange rates of most copycats have collapsed to new lows. Therefore, as long as the big pie is not safe, the pressure on the copycats will be greater.

The US stock market is still very strong in the past few days. Thanks to the financial report, the Nasdaq continues to make small breakthroughs, but the strength is not strong, but it is not defined as a false breakthrough for the time being. But the crypto market is miserable. Not to mention that the cottage has been basically cut in half since April, meme and brc20 collapsed directly with Sun Ge's call for orders.
Bitcoin fell below 26,500 during the day, and the market is not interesting for the time being. It is too early for bulls to buy the bottom, and for bears, they need to take a break for the time being. Bitcoin and Ethereum fell weakly in the afternoon, but many altcoins have already started some small rebounds. There is a need for short-term repairs here, but it does not change the general trend. The general trend here refers to the fact that Bitcoin's downward trend has not changed at the daily level, and most altcoin exchange rates are currently at a new low of collapse, so as long as Bitcoin is not safe, the pressure on altcoins will be greater.
For the time being, Bitcoin needs to be repaired within the daily line, but at the daily level, Bitcoin is not completely stable. This will take some time. Don't just go bullish after seeing a few hundred dollars increase. This round of divergence from the Nasdaq cannot be said to be Bitcoin's wrong move. I think the funds have their own assessment of the situation. It is not an incremental bull market, so it is enough for funds to play in the mainstream market. The water will not flood Bitcoin, and 31,000 is indeed enough for an oversold rebound. Since the trend has already appeared, it is not too early to understand that the decline trend has ended.
It is estimated that there is hope for a rebound of 2.7w over the weekend. It is expected to be difficult to go higher. Many people are speculating on rebounds. If it is a short-term plunge, there will still be relatively large rebound fluctuations. Most of them are meaningless. Let's wait and see the stability of the big cake after next week. The daily line is not good for the time being. It's still too early. #BTC #crypto2023 #ETH #Binance #Web3 