Bullish signals for Bitcoin have re-emerged, and the market indicator of the ratio of Bitcoin's market cap to its realized cap has re-entered the bullish zone.
This reversal in on-chain data is typically rare, occurring only within a few weeks. A similar situation occurred in 2020 when it was regarded as a slowdown in the middle of the cycle.
The positive changes in the current indicators may suggest that Bitcoin is likely to reach new historical highs. Although technical analysis and market outlooks typically lead on-chain data, the emergence of confirmation indicators still holds significant reference value. If this indicator can maintain positive momentum, Bitcoin's price may further break through.
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Apart from the short position of $BTC , the short positions of $ETH and $SOL are still online! Public square shouting orders, refusing to be an afterthought, from now on please call me the front cannon!
I haven't slept for a day and a night, this waterfall is directly making me wide awake!
On May 18, the price of ETH rose, increasing by more than 2.5% in the past 24 hours, with a trading price of $2,536.
The price of Ethereum rose more than 4.5% from a low of $2,440 the previous day to an intraday high of $2,551. This rebound has strengthened market optimism, suggesting that the price of ETH could reach $3,000 in May due to strong technicals.
On May 19, in addition to the sharp decline in Ethereum, the cryptocurrency market also experienced massive liquidations. Over $158 million in leveraged positions were liquidated in the past 24 hours, with $95 million being long positions.
The total liquidation amount for Ethereum short positions reached $22.25 million, with $7.5 million evaporating in just the past hour. The recent decline in Ethereum is a technical pullback aimed at retesting key support levels before continuing to rise, targeting $3,000 and above.
The Ethereum price bull flag pattern is still in play. From a technical perspective, the ETH price remains above a bull flag pattern on the four-hour timeframe, which is a bullish signal formed after a significant price increase followed by consolidation in a downward range.
On May 13, when the price broke above the upward trend line at $2,550, the bull flag was confirmed. Currently, Ethereum is retesting the upper boundary of the flag, which is currently at $2,470, forming a direct support level.
If the daily chart closes above this level, Ethereum may resume its upward trend, moving towards the technical target of the bull flag at $3,720, a 50% increase from the current price.
📊The price of #DODO is in an upward trend, potentially heading towards swing high liquidity levels.
📈After a recent retracement and a tap into a bullish breaker block, the price has shown bullish displacement, suggesting a continuation of the upward momentum and expected to test the swing high liquidity.
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