Bitcoin market analysis today: Bitcoin has fallen for three consecutive days, and has come out of an obvious selling market, temporarily returning to the intensive trading area since May. The price of Bitcoin has fallen below the neckline of the large-scale head, which is indeed a bit worrying, but we can also see that Bitcoin has actually been fluctuating in this area for nearly a month. This time we can regard it as continuing to fluctuate after failing to break through the key position of 27,500. It has not fallen sharply, indicating that there is still buying in the market. This position still needs to further accumulate volume. After accumulating to a certain extent, it will brew confidence in a breakthrough. In the short term, the market is not satisfactory, but it can still move upward over time.
Analysis of Ethereum's market today, Ethereum's rebound yesterday exceeded 50% of the decline in the past few days. The rebound was quite strong, but dragged down by the broader market, it quickly fell back. It seemed that the bulls were not very confident and were a bit hesitant. However, after a deep squat, Ethereum rebounded and formed a long lower shadow, indicating that the market still wants to go long. Let's see if it can pull back strongly in the next two days.
At the same time, we can also take a look at other altcoins. The entire market still has many hot spots and highlights, including coins that have skyrocketed such as LINA and coins that have fluctuated violently such as ARPR.
