- Floki announces sponsorship of the 2024 World Tennis League.
- MicroStrategy plans to purchase $42 billion worth of Bitcoin over the next 3 years… having bought $17 billion worth of Bitcoin in the past 35 days.
- Ripple's RLUSD stablecoin is about to launch, with XRP continuing to attract attention!
- Mt. Gox transfers 1619.57 Bitcoins to two addresses, valued at approximately $172 million.
Bitcoin reached a weekly high of around 107,000. Previous analysis indicated that after breaking 95,400, the next target was around 107,000, which has now been reached. Bitcoin spot ETH has been continuously flowing in since the 27th, and Ethereum has also seen continuous inflows since the 20th. On the 19th, the probability of the Federal Reserve cutting interest rates by 25 basis points reached 99%.
Bitcoin's daily BOLL is opening up, with prices hitting new highs. The MACD histogram has turned positive, and the DIF and DEA have crossed. The RSI indicator has broken out, indicating a bullish outlook. Currently, the price is below the rising channel, so watch for potential pin bars or significant pullbacks in the days following the rate cut. If the price breaks out of the rising channel, it must not fall back; it needs to significantly move away from the current level to maintain a bullish outlook of 120,000.
The 4-hour rising triangle has broken out, and the market has tested it 4-5 times before the effective breakout. In the 4-hour chart, we can also watch for a retest of the 4-hour rising trend line; if it holds, it could be an opportunity to enter.
Support: Resistance:
Ethereum
In the analysis on the 11th, the BTC pin bar double test was temporarily effective, and it is about to challenge the previous high resistance again. It was mentioned that Bitcoin and some altcoins have already bottomed out, with purchases made at the lowest price around 3,500. This morning, it rebounded to a high of 4,107 with an upward pin.
The weekly chart shows an effective diagonal breakout, with a second upward attempt followed by a pullback. Similarly, we are waiting for the rate cut to take effect and for upward momentum to build.
Support: Resistance:
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The article is time-sensitive and for reference only; it is updated in real-time.
Focusing on K-line technical research, sharing global investment opportunities. Public account: Trading Prince Fusu
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