Bitcoin Bottoming? Crypto Trend
Powell gave another speech last night!
He still emphasized that interest rates will not be raised and that interest rate cuts required more patience.
Let's look at Bitcoin chart.
Bitcoin 4 hours chart
Bitcoin made several bottoms yesterday afternoon. Judging from the four-hour chart, it could not fall below 61600 even if it stepped back several times.
Now it is critical to see if Bitocin can stand firm in four hours chart, at 64868 USD first.
In short term, I think the adjustment should be over for the time being. After all, even the weak Ethereum has stabilized above weekly support (3035 USD).
Personally, to catch the rebound, the first choice will be Bitcoin. This is because every time when there is a rebound, the leader Bitcoin takes the lead.
For those who are interested, you may look at Bitcoin related ETF like $iShares Bitcoin Trust(IBIT)$ $Bitwise Bitcoin ETF(BITB)$ $Fidelity Wise Origin Bitcoin Fund(FBTC)$ $Grayscale Bitcoin Trust(GBTC)$ $ARK 21Shares Bitcoin ETF(ARKB)$
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- koolgal·04-18Thanks for sharing your valuable insights on Bitcoin 😍😍😍LikeReport