#Update Market May 11, 2024 [DCCK]
$BTC yesterday May 10, 2024 made a surprise result, no one knows in advance, the price line goes before the news or if the news happens then the price moves. Its essence is that combining the two takes the form of a weapon that carries extremely strong damage.
$BTC - Resistance mark at 63k100
$ETH - Resistance mark 3050
Total3 - Support milestone 630B
BTC.D - Support mark 54.60%
USDT.D - Trending sideways 4.98%-5.08%
Conclude:
- $BTC could not clearly break above 63k100, the continuous buying force was due to fomo and poor liquidity leading to the price recovering quickly to kill shorts, then the price dumped strongly thanks to the war news, further demonstrating its position. The decline in the medium term is still very clear. Today is the weekend so the market usually moves sideways and pushes people's emotions lower
- $ETH Breaks out of 2945, the inverse head and shoulders pattern is not confirmed, confirming that the downtrend of ETH is still continuing, the ETH/BTC pair is weak, fluctuating, unclear, could collapse at any time when. Be careful vs ETH
- BTC.D Dom is currently showing more sideways movement in the medium and short term of 3-5 days. There is no clear signal from looking at dominance
- Total3 is recovering well but hitting resistance with strong selling force, causing Total 3 to not be able to maintain its uptrend. Total 3 will now move in step with the market
- USDT.D is forming a clearer uptrend. Temporarily going sideways is reasonable for usdt.dom or btc.dom at this time
Terminology explained for newbies (see Dan Play Call Keo channel)
1/ What is Total 3?
2/ What is USDT.D - BTC.D?
3/ Why choose to analyze USDT.D?
