Bullish market! 20240506

CN
1 year ago

Bitcoin network recently achieved an important milestone: processing 1 billion transactions. This achievement occurred after the fourth halving, reducing the miner block reward from 6.25 BTC to 3.125 BTC. New protocols such as Ordinals, Runes, and BRC-20 token standards have driven a significant increase in daily transactions. Bitcoin, as the world's first and largest cryptocurrency, has reached a new milestone.

Market Analysis:

BTC: On the 4-hour chart, the price continues to stay above the Bollinger Band's midline, indicating a healthy trend.

On the daily chart, the price continues to hold above the moving average support, indicating a healthy trend.

In summary, the support level is at 63300, and the resistance level is at 63600.

ETH: On the 4-hour chart, the price fell below the Bollinger Band's midline, showing a weak trend, with support at 3080 and resistance at 3110.

LTC: The price fell below the Bollinger Band's midline, indicating a neutral trend, with support at 79 and resistance at 83.

BCH: The price continues to stay above the Bollinger Band, showing a continued oscillating trend, with support at 450 and resistance at 480.

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