BlackRock, with a scale of $11.5 trillion, launches its Bitcoin ETF on the Chicago Board Options Exchange (CBOE) in Canada.
- Japanese listed company Remixpoint increases its holdings by 33.34 Bitcoins, worth approximately 500 million yen.
- Hong Kong-based Ming Cheng Group acquires 500 Bitcoins for $47 million.
- MicroStrategy spends about $243 million to increase its holdings by 2,530 Bitcoins.
Yesterday, Bitcoin continued to decline, hitting a low of 89,256 before rebounding to 94,800 at the time of writing, a rebound of nearly 6,000 points. Long and short positions were liquidated, resulting in $667 million in liquidations over 24 hours. Thus, we see retail investors panic selling, while institutions or whales are buying the dip.
Bitcoin
Yesterday, we mentioned that global stock indices were experiencing a widespread decline. Can the support at 90,000 for BTC hold? Is there a possibility of a false breakdown? As a result, the market dipped to a low of 89,256 before rebounding, and it has now rebounded to over 95,000 with both long and short positions being liquidated. Now we need to see if the pressure at 96,000 can be broken to confirm the false breakdown.
The daily chart shows a pin bar still above the Fibonacci 0.382 level. The daily candlestick has been in a doji pattern for 2 days, and after yesterday's downward pin bar, we will look for a breakout above 96,000 to continue upward towards 97,600—98,600, or even 100,000.
Support: Pressure:
Ethereum
The lowest pin bar was at 2,920, and it has rebounded to 3,164 at the time of writing. Bitcoin has not broken below 0.382, so Ethereum's decline will not be too deep. We have consistently reminded that buying in batches above 2,800, specifically 2,850—2,950, is advisable. Next, we will also focus on the strength of the rebound.
Support: Pressure:
Altcoins
For SOL, after a pin bar at 168, it recovered to 175, and the current price is 183. If it does not break below 175, it can be considered for a primary position. XRP has seen a pullback after breaking out, and it has basically recovered. DOGE has also not broken below 0.382, showing a relatively weak decline. We should pay attention to the breakout of the downward trend line for potential accumulation.
HBAR has been consolidating with a relatively weak decline. We will continue to monitor whether it can catch up later. XLM previously broke out of a descending wedge and has not broken below 0.388 during the pullback. If it does not break this line, we can expect a rebound.
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This article is time-sensitive and for reference only, with real-time updates.
Focusing on K-line technical research, sharing global investment opportunities. Public account: Trading Prince Fusu
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