The weekend market has entered a small market dominated by fluctuations, which is suitable for drinking tea and thinking about life. Next, let's take a look at the current market trend.
In the past two days, both Bitcoin and Ethereum have been hovering at the resistance level after hitting a high and falling back, and they have started to fall back again today, which does not seem to be a good phenomenon. From the daily line, Bitcoin is safe as long as it does not break below $41,100. If it breaks, the market will go short. At the time of writing, Bitcoin has reached $41,900. The upper $43,000 is a strong pressure level. In recent days, both long and short positions have been liquidated. If the main force absorbs funds during the shock period, there may be a big market.
Ethereum and Bitcoin are linked. If the $2,200 level cannot hold, it will continue to fall and look at $2,180. As long as the closing line today is above the green band, it is bullish. If it falls below $2,180, it is bearish. There is pressure at $2,244. Only if it stands above $2,250 can it be bullish. If it is below $2,250, it is short.
The market has been fluctuating again in recent days, while the inscription world on the other side is in full swing. Many people have begun to be impatient and have turned their attention to the inscription field. However, the effect of making money is indeed very strong, and no one can resist such temptation. Inscription, as a new narrative that replaces the concept of MEME, has also broken our new understanding of the crypto world. From MEME culture to the new way of playing inscriptions, it integrates the new way of NFT+token. This may only flash in the crypto world. In the past, web2 was a story that had never existed. These new stories are often only grasped and believed by a part of people, and finally obtained thousands of times of benefits. From brc20 to ERC20, to BNB chain inscriptions, to inscriptions on the solana chain, avalanche, horseshoe, ICP, etc., almost all chains have begun to launch their own inscription narratives. This indicates that the new narrative of inscriptions will come to an end, and there will be new narratives to replace this round of inscriptions. This requires us to have more patience to wait for the next cycle of wealth indicators to appear.
In the last cycle of the bull market, DEFI triggered the explosion of the Ethereum ecosystem, driving the continuous rise of Ethereum. Later, the emergence of gamefi catalyzed a new enthusiasm in the bull market. In the middle and late stages of the bull market, meme culture became popular in the crypto world. Before each new narrative came out, many pioneers achieved financial freedom. This round of inscriptions was no exception. Of course, the early inscriptions were full of challenges, and many inscriptions eventually withdrew from the stage, so it was not all smooth sailing.
I think that the new way of playing with inscriptions will be applied to different scenarios, such as games, social networking, etc. Perhaps the emergence of each new thing will push the entire web3 forward. Although I personally think that inscriptions have reached their end, you can still participate in some early leading inscriptions with strong communities. In the next cycle, inscriptions will enter the application and be presented to everyone in a brand new way. The above is only my personal opinion. I look forward to the next new cycle, we will enter the new track of wealth together and achieve wealth goals together. You are welcome to correct and criticize in the comment area.
