Good evening, brothers!
Yesterday, I mentioned that people in the crypto circle are not well-received, and surprisingly, I received a lot of likes from everyone. It seems that many of you feel the same way. Compared to the various policy supports in the stock market, the crypto circle is being besieged by multiple countries. So, stock investors are indeed relatively happier.
Some people in the crypto circle also do not like the crypto space because there are many chaotic phenomena, which is indeed true. However, there are also many good people in the crypto circle, and certainly many who are making money in it.
Those who experienced the crazy market back in 2018 know that making money daily in the crypto circle is not uncommon. Nostalgia.
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While global regulatory agencies are still debating the regulatory framework for stablecoins, South Korea's new president, Lee Jae-myung, is swiftly fulfilling his campaign promise—allowing local companies to issue stablecoins.
On Tuesday, media reported that the ruling Democratic Party led by Lee Jae-myung proposed the "Basic Digital Asset Act," paving the legal way for the issuance of stablecoins in South Korea. The bill stipulates that South Korean companies with a capital of 500 million won (approximately $368,000) or more can issue stablecoins, provided they ensure a redemption mechanism through reserves.
BTC: On the 4-hour chart, the price continues to stay near the upper Bollinger band, showing a strong price trend. The short-term market is overbought, so caution is needed for a price correction; consider reducing some short-term positions.
On the daily chart, the price continues to stay above the moving average support, showing a strong price trend.
In summary, the support level is 109,600, and the resistance level is 11,000.
ETH: On the 4-hour chart, the price has broken through the upper Bollinger band, and the short-term market is overbought. Remember to reduce some short-term positions; the support level is 2,780, and the resistance level is 2,800.
LTC: The price continues to stay near the upper Bollinger band, showing a strong price trend. The support level is 90, and the resistance level is 92.
BCH: The price continues to stay near the upper Bollinger band, showing a strong price trend. The support level is 420, and the resistance level is 440.
That's all for now, good night!
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