25/06/20 BTC 5-week doji star, altcoins polarized, most will eventually go to zero
In a mature financial market, whether it's the US stock market, A-shares, or others, when it moves towards stability and maturity, it is basically impossible for all to rise together; it's all about polarization, like the seven golden flowers of the US stock market, Hong Kong stocks, and A-shares.
Cryptographic assets have experienced early unregulated wild growth. The bull markets of 2017 and 2020 saw altcoin seasons based on the limited variety of the entire crypto market. However, in the past two years, the number has increased by tens of thousands or even hundreds of thousands of times. The market cannot have enough funds to drive all the increases, and with the current stablecoin market being exceptionally hot, more funds will not casually invest in high-risk varieties. The US stock index has a century-long rainbow, with seven golden flowers, but many penny stocks are just a mess. Especially with traditional financial giants like BlackRock entering the market.
Once US stocks are tokenized, token stocks will circulate on-chain and on exchanges, and altcoins will completely exit history.
Bitcoin
Weekly candlestick shows continuous doji stars, but has remained above 100,000, with high-level fluctuations facing pressure at 110,000. The daily chart maintains a converging triangle, indicating a risk of further breakdown. The prince reminded long ago that 98,000 to 94,000 could be a relatively good bottom-fishing opportunity, which still looks promising.
Support: 94,000—98,000—100,000
Resistance: 110,000—112,000
Ethereum
Ethereum's weekly chart also shows 5 doji stars, which indicates a relatively strong trend. If there are sharp declines or spikes in the future, it will still be a good opportunity to enter. The weekly chart still has the chance to reach 3,300 or even 4,000. This ongoing fluctuating market is very boring, while altcoins have experienced polarization with some moments going to zero. As the world lays out stablecoin tracks and RWA, some worthless coins will eventually go to zero.
Support: 2,100—2,200—2,300
Resistance: 2,879—3,300—4,000
