The price is on the midline of the Bollinger Bands! 20240405

CN
1 year ago

Coin World Report: Cryptocurrency experts suggest that the correlation between Bitcoin (BTC) and the stock market S&P 500 index has weakened to a negative value in the recent period. This finding is particularly important for investors as it emphasizes the potential of Bitcoin as a diversification choice for investment portfolios. Although this correlation may recover in the future, the current trend indicates that Bitcoin can operate independently from traditional asset categories.

Market Analysis:

BTC: On the 4-hour chart, the price has risen above the Bollinger Band's midline, returning to a strong trend zone.

On the daily chart, the price continues to fluctuate near the moving average.

In summary, the support level is at 66800, and the resistance level is at 67200.

ETH: On the 4-hour chart, the price remains below the Bollinger Band's midline, indicating a weak trend, with support at 3240 and resistance at 3300.

LTC: The price continues to fluctuate below the Bollinger Band's midline, showing a weak trend, with support at 96 and resistance at 100.

BCH: The price continues to hover near the upper Bollinger Band, indicating a strong trend, with support at 670 and resistance at 700.

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