Bitcoin has been bullish for the seventh consecutive time on the daily chart, with prices continuing to remain above $34000.Bitcoin and Shanzhai CoinAfter BlackRock pointed out progress in its Bitcoin spot ETF, Bitcoin (BTC) hit a new high of $35200 in 2023
Bitcoin has been bullish for the seventh consecutive time on the daily chart, with prices continuing to remain above $34000.
Bitcoin and Shanzhai Coin
After BlackRock pointed out progress in its Bitcoin spot ETF, Bitcoin (BTC) hit a new high of $35200 in 2023. However, since then, the price rise of BTC has temporarily cooled to the $34500 area.
On the chart, especially within the daily time range, the price and liquidity imbalance is located in the white area of $30200 to $32800.
The Fibonacci pullback tool is plotted between the September low of $24900 and the recent high of $35200. According to this tool, the liquidity on the chart is at a Fib level of 50% to 23.6%.
In addition, 50EMA is located near the 38.2% Fibonacci level. It may cause the white area to become a bullish area. The strong recovery in the region may lead to a BTC target price of $35200, or a bearish order block of $37000 to $40000 (in red) by May 4, 2022.
The market trend of BTC is bearish, manifested as a positive CLLD. CLLD tracks the changes in long and short liquidation over time. A positive index (green) indicates that more long liquidation has been recorded, which is a bearish signal.
In terms of clearing overview, the main and current clearing areas are $35900, $35600, and $34400 respectively (the blue line on the higher side).
This means that liquidity exists at these levels. Therefore, Bitcoin may experience a strong reaction here and then fall back to the price imbalance on the chart of $32800 to $30200.
In terms of counterfeit coinsAs BTC stabilizes above the $34500 range, the market continues to rise.
MemecoinPepe (PEPE) is the item with the most significant increase in the top 100, with a daily increase of over 26%. In a 7-day time frame, PEPE prices recorded a profit of over 95%.
Other projects such as TheGraph (GRT), RocketPool (RPL), Gala (GALA), ShibaInu (SHIB), Quant (QNT), OasisNetwork (ROSE), Dogecoin (DOE), GMX (GMX), TerraClassic (LUNC), ApeCoin (APE), Aptos (APT)... have increased by 4-8%.
Ethereum (ETH) has risen for 7 consecutive days. Currently, the largest proof of equity smart contract token in the market is attempting to break through $1800, with a gain of over 15% in the past week.
(Personal opinions do not constitute suggestions)
In the encryption industry, if you want to seize the next bull market opportunity, you need to have a high-quality circle so that everyone can warm up and maintain insight. If you are alone, looking around in a daze, and realizing that there is no one, it is actually difficult to persist in this industry.
If you like it, please follow and bring more articles in the future
Thank you for reading. See you next time!
Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])
