$BTC Bitcoin Morning Analysis
Overnight US stocks continued to show weak consolidation, with the Nasdaq down 0.53%. Bitcoin followed suit, dropping to around 85800, but later showed resilience, recovering above 87000.
Overall, the support from the trendline along with the earlier resistance and support swap is effective, and in recent market conditions, Bitcoin showed demand, with declines during the US market hours and rebounds during the Asian market hours.
From a structural perspective, the upward trend has not been broken. Focus on whether this rebound can break through previous highs; a successful breakout would form a flag pattern, and the market is expected to rise further.
In terms of operational strategy, continue to hold long positions at low levels. Bitcoin has not dropped below 85000, and the bullish outlook remains unchanged.
1. Market Trends
BTC is in sideways fluctuations. Exchanges are rapidly launching new coins, and the market capitalization at opening is getting lower.
US stocks are down, and gold has hit new highs. The market is worried about escalating trade tensions.
2. Market Highlights:
1. The public chain BERA is rising. The DeFi mining returns of BERA are high, and many people are using contracts for hedging mining, which may lead to a price squeeze.
2. On Binance, four meme tokens participating in voting are Mubarak, Broccoli714, Tut, and Banana, with earlier market expectations for two. Among them, Tut has the smallest market cap and the largest increase, while Mubarak faced a drop. This is favorable for the infrastructure of BSC chain memes like FORM.
3. On Binance Launchpool, GUNZ is a AAA-level crypto battle royale game being developed on the Avalanche public chain.
4. The Binance wallet is conducting the IDO for KILOEX. KILO is a contract DEX on the BSC chain, with a market cap of 100 million USD, benchmarking GMX. The profit effect from the IDO is decreasing.
5. The meme Ghibli on the Solana chain has surged significantly and has been listed on Binance Alpha. Ghibli features AI-generated images in the style of Miyazaki's Ghibli, and multiple celebrities have shared it.
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