Bitcoin has a controlled feeling; the pump and dump happen seamlessly with no delays. The US stock market, gold, and silver are skyrocketing, but Bitcoin just won't move. It is also possible that large institutions haven't acquired chips yet.
Currently, the 4-hour level is in a wide fluctuation trend with no obvious direction. I want to wait until Japan announces interest rate hikes before observing the market trend.
In recent days, apart from privacy, I see signs of a revival in on-chain memes. I won't elaborate further; everyone can research on their own and be mindful of the risks.
BTC
BTC hourly level is moving erratically, retail investors' desire to go long is not strong, but the momentum of the 2-day line level rebound is still increasing. The 3-day line level rebound may take effect next week, and after the rebound takes effect, it is still expected to reach around 97400-98800.
The current pressure is near the 2-day Bollinger middle band around 93570 and the 1-day Bollinger upper band at 94250. If 93570-94250 breaks, the 3-day rebound will take effect, and it will aim to explore around 97400-98800. This step is very violent, generally belongs to the peak period of short liquidations. After pushing up, next week it may violently crash under the stimulus of major bad news.
The long position defense is at 89000 (breaking here would lead to a steep decline), the short position defense at 94600 is crucial (breaking this would lead to an attack on 98k).
ETH
ETH today has resistance at 3272 and support at 3150 (with part at 3142). In the short term, if it breaks below 3150, the decline will expand. The amplitude is shrinking, and it is consolidating to the right.
The momentum of the 2-day line level rebound is showing an increasing trend, with strong resistance at 3372-3440. It will only reach 3495-3555 after breaking through. Therefore, the short defense is at 3450, and the long defense is at 3140.
LUNA
LUNA directly plummeted, Do Kwon was sentenced to 15 years, after which extradition to Korea will likely mean spending several decades in prison, basically considered finished.
Almanak
Previously on the new public offering platform Legion, Almanak was valued at 90 million USD, raising 2 million USD. After last night's official circulation, it has dropped to a market value of 36 million, equivalent to a 60% loss for those who participated in the public offering. The team has yet to respond to the public offering price drop issue.
MERL
In the past few weeks, MERL has touched around 0.5 three times, each time it approached but then turned back, with the closing basically showing long upper shadows, a typical 'dump at the point'.
The current technical pattern is leaning towards bearish, there is almost no space above 0.5 in the short term, unless one day it can stabilize with a strong volume, otherwise each rebound is likely to follow the rhythm of 'being shot down at the point'. Personally, I think the risk of chasing high is too great before seeing a real breakthrough signal, better to short than to long.
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