Bitcoin closed above $37000 last week, officially recording four consecutive weeks of gains.Bitcoin and Shanzhai CoinRecently, the trend chart of Bitcoin has shown a growth trend
Bitcoin closed above $37000 last week, officially recording four consecutive weeks of gains.
Bitcoin and Shanzhai Coin
Recently, the trend chart of Bitcoin has shown a growth trend. Bitcoin prices have formed a series of higher highs and higher lows, which is a classic indicator of the upward trend. The recent rebound has pushed prices above the psychological resistance level of $35000, with prices currently hovering around $37250 and closing higher for the fourth consecutive week.
Trading volume plays an important role in confirming the strength of price trends. For Bitcoin, the trading volume of the entire bull market is quite high, indicating the strong interest and confidence of buyers. In addition, the MACD line is located in a bullish region, and the relative strength index (RSI) shows sustained buying pressure, but has not entered an overbought region.
Another noteworthy technical aspect is the price trend related to the moving average. Bitcoin prices easily sit above the 50 day and 100 day moving averages, which serve as support during bull markets. This signal further strengthens the positive outlook for Bitcoin in the medium to short term.
Many counterfeit coin projects have recorded double-digit growth in the past 24 hours
Among the top 100 counterfeit coins with the largest market value, Klaytn (KLAY) is the most prominent project, growing by over 30% in the short term.
Secondly, Celestia (TIA), FTXToken (FTT), and ORDI (ORDI) all rose by over 20%. From a weekly perspective, all three projects have brought huge results of up to three digits.
Avalanche (AVAX), Filecoin (FIL), Polygon (MATIC), dYdX (ETHDYDX), Synthetix (SNX), Algorand (ALGO), Optimism (OP), NEARProtocol (NEAR), Sui (SUI) Ejection has decreased by 10% compared to the previous 24 hours.
Ethereum (ETH) also recorded its fourth consecutive rise, with a gain of nearly 10% in the past 7 days. With the hype surrounding BlackRock's spot ETF application, ETH has broken through the $2000 threshold and officially closed above this critical psychological level every week. At present, the price is approximately $2060, which has increased by over 1% in the past 24 hours.
(Personal opinions do not constitute suggestions)
The crypto market is constantly changing, and enthusiasts need to remain vigilant, closely monitor market trends, seize opportunities, and avoid risks.
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