Why did Bitcoin crash?
From the daily chart, a large bearish candle fell yesterday, engulfing the previous bullish candle, indicating that a lot of capital is fleeing, and the trading volume is high, suggesting a bleak outlook for the future. The MACD indicator has also crossed down, showing that the correction trend has been evident for a long time. Given the current trend, it will be difficult for BTC to break above $70,000.
Looking at the hourly chart, there is a long lower shadow. During today's decline, a lot of capital entered the market to buy the dip, and it has started to stabilize. Unless something unexpected happens, today should be a day for a rebound.
Speaking of market sentiment, I have always said that we are still in a risk zone.
BTC is down, but people are not panicking; instead, some are buying at higher prices. This is exactly what the manipulators like. Once again, if altcoins rise, reduce your holdings; don’t fool yourself.
After today's drop, many who chased high are definitely facing liquidation. I placed my orders in advance and ended up picking up a lot of cheap chips at today's low; I will take profits once it rebounds.
Today, BTC still has a chance to return to $68,000. The market is very tight, and everyone needs to be particularly careful when trading.
Will the price of Dogecoin replay history within 43 days?
The price of Dogecoin may soon break through six days of consolidation, predicting that the price of Dogecoin will significantly rise within 43 days, and it may be 'the last chance'. This prediction was made while the price of Dogecoin stagnated below $0.1499, which may indicate a bullish flag pattern. Investors eagerly anticipate the next big move, which may come earlier than expected, but the question remains: Will the price of Dogecoin surge within 43 days?
During the London trading session, the price of Dogecoin hovers around $0.1399, having risen 0.3% in the past 24 hours. This rise coincides with Bitcoin retesting the $69,000 resistance level, and if it breaks this resistance, it could trigger a surge in cryptocurrency prices.
The price of Dogecoin is about to replay history.
The time for Dogecoin to start a new round of increases is running out. This last opportunity will end in about 43 days.
Comparing the patterns from 2020-2021 with the predicted pattern for 2024 has led to this conclusion, suggesting that the price of DOGE may surge by 1,800% in the next two months. This would bring the price of Dogecoin to around $2.5, giving it a market cap of an unprecedented $388 billion.
However, a downward trend is expected to appear first, which is the last buying opportunity before the next rise.
