25/06/20 BTC 5-week doji star, altcoins show two-tier differentiation, most will eventually go to zero.

CN
11 days ago

In a mature financial market, whether it's the US stock market, A-shares, or others, once it moves towards stability and maturity, it is basically impossible for all to rise simultaneously without polarization, like the seven stars of the US stock market, Hong Kong stocks, and A-shares, etc.

Cryptographic assets have experienced an early stage of unregulated and wild growth. The bull markets of 2017 and 2020 were characterized by a season of altcoins, based on the fact that there were not many varieties in the entire crypto market. However, in the past two years, the number has increased by tens of thousands or even hundreds of thousands of times. The market cannot have enough funds to drive all rises, and with the current stablecoin market being exceptionally hot, more funds will not casually go to buy some overly risky varieties. The US stock index has a long history, and there are still the seven stars, but many penny stocks are in disarray. This is especially true with traditional financial giants like BlackRock entering the market.

Once US stocks are tokenized, token stocks will circulate on-chain and on exchanges, and altcoins will completely exit history.

Bitcoin

The weekly chart shows a series of ten consecutive doji candles, but it has remained above 100,000. The high level continues to oscillate under the pressure of 110,000. The daily chart maintains a converging triangle, which carries the risk of further breakdown. The gentleman reminded a long time ago that 98,000 to 94,000 might be a good bottom-fishing opportunity, and it still looks promising.

Support: 94,000—98,000—100,000

Resistance: 110,000—112,000

Ethereum

Ethereum's weekly chart also shows five doji candles, indicating a relatively strong trend. If there are any sharp declines or spikes in the future, it will still be a good opportunity to get in. The weekly chart still has the potential to reach 3,300 or even 4,000. This kind of continuous oscillation is very boring, while altcoins have shown polarization with some instantly going to zero. As the world lays out stablecoin tracks and RWA, some air coins will ultimately go to zero.

Support: 2,100—2,200—2,300

Resistance: 2,879—3,300—4,000

If you like my views, please like, comment, and share. Let's navigate through the bull and bear markets together!!!

This article is time-sensitive and for reference only, updated in real-time.

Focusing on K-line technical research, sharing global investment opportunities. Official account: BTC Trading Gentleman Fusu

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