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Which Currency Has Potential Now?

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Summary of currencies with potential: Bitcoin recently broke through $20,000, wi

Which Currency Has Potential Now?

Summary of currencies with potential: Bitcoin recently broke through $20,000, with a increase of over 100%. Ethereum also hit a new high, but its price has dropped by over 50%, currently hovering around $32,000. Which currency has potential now? I think it’s worth keeping an eye on.

1. Bitcoin trend analysis

Technically, the daily chart of Bitcoin has been running above the middle Bollinger Band for three consecutive days (MA60 crossing above MA10), and the market is still shrinking. However, looking at the 4-hour chart, although the market has not broken the triangle pattern, if it cannot stabilize at $58,000 on a pullback, the market will still rise and continue to test resistance levels. Due to the correlation between Bitcoin and Litecoin prices, there won’t be a decrease to below $10,000 in the short term, and the bullish momentum will continue to increase. In terms of the 4-hour chart, the MACD has formed a dead cross, and the turning point of kDJ is disappearing. Overall, the market still maintains a range-bound pattern, and the suggested strategy is to go short at high positions and go long at low positions. (It is unnecessary to short Bitcoin if it has risen too much).

2. Analysis of Ethereum’s performance

Which currency has potential now

According to cointelegraph, since September last year, BTC has been running within a narrow range above $10,000 until recently when the price fell below $10,000 again. However, this does not mean that BTC is currently oversold. On the contrary, if BTC continues to rise, it will face resistance at the key level of $10,500 and support at the key level of $11,300. From a technical perspective, Bitcoin has started to enter the lower part of an ascending triangle, and it is currently testing the $10,000 level with a strong rebound. So, which currency has potential now?

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