The recent market is full of psychedelics. Bitcoin has been fluctuating above $27,000 for 20 days. During this period, the entire market is extremely polarized, and most projects are going their own way. Among the large-cap projects, XRP first rose 50% independently. Two days ago, doge rose 30% violently because the Twitter logo was changed to a dog head. It is currently fluctuating at a high level. If there is more favorable news in the future, it may rise again. Last night, Ethereum also began to strengthen, setting a new high for the year, breaking through $1,900. Now looking back at the entire market, during the continuous fluctuation of Bitcoin, market funds are still active, and some projects with favorable expectations and at the bottom have become the objects of short-term selection of hot money.
The current market has truly confirmed a saying that every project has its own cycle, and it is not necessary to look at the face of Bitcoin. Bitcoin has fluctuated, and the situation of cottage industry rotating to make up for the rise has occurred many times in the past, but this situation will not last for a long time, and not all projects have the opportunity to make up for the rise. After this wave of market conditions, the final result may very well be that many cottage industries will hit new lows. This period of time is also the most difficult time to seize market opportunities, and it is also a time when risks increase rapidly. Even if many cottage industries make up for the rise, they do so in the form of skyrocketing and plummeting, and the market sustainability is extremely poor. If you want to participate in spot trading, participate with the mentality of short-term stealing chickens. Audio, uni, link, ada, these are all old-fashioned projects at the bottom, and they continue to fluctuate narrowly at the daily level. There are opportunities for catch-up in the future. Blur, which the hero has always been optimistic about, has also stabilized at the daily MA30. There are also several projects with favorable expectations mentioned in the previous article: eos, zil, VGX, torn
What the hero said back and forth is that this year's market is dominated by wide fluctuations. Now Ethereum has taken the lead in reaching a new high, which is regarded as a shot in the arm for the market. As long as Bitcoin continues to fluctuate, it will give many opportunities to the bottom-level cottages. It should be reminded that the CPI data will be announced on the 12th, and the time for the Ethereum Shanghai upgrade will also be around the 14th. The start time of the Hong Kong Blockchain Conference is also April 12. I don’t know if the curse of falling at every conference will be broken, but the hero believes that if the cottages want to make up for the rise, Ethereum may want to break through 2000U and have another outbreak in the next week. When most of the cottages start to make up for the rise, it is a sign that this wave of market is about to end.
Bitcoin continues to fluctuate back and forth. There is not much to say. The market focus has shifted. Ethereum has hit a new high. There will be a large-scale rebound opportunity for altcoins in the short term. Support level: 26500 Pressure level: 29000
Ethereum has reached a new high this year just as the Shanghai upgrade is about to start. The high point near 2000 was in August last year, and the wide range of fluctuations above 2200 US dollars has lasted for a year. Therefore, I believe that even if Ethereum continues to rise, the short-term space is not very large. 2000 is a barrier, and 2200 is a heavy pressure zone that is difficult to break through. In addition, with the realization of the benefits of the Shanghai upgrade on the 14th, a large number of early pledges will be unlocked, and a large amount of selling pressure in the short term is certain. I believe that Ethereum's new high is more of a confidence-building for altcoins. Support level: 1700 Pressure level: 1850
