Bitcoin (BTC) continues to turn heads with its recent rise, but the question remains: is the correction over or should we prepare for further declines? Let’s take a look at the current state of affairs.
The current state of affairs in the crypto market
The crypto market seems to be full of activity. Not only from individual investors, but also from large investors and venture capitalists who invest their money Cryptocurrencies pump. This increase in investments, particularly in DeFi (Decentralized Finance) and infrastructure projects, indicates a growing interest in this sector. The recent rise in Bitcoin price, visible again today, appears to be a reflection of this growing interest.
During this time of price volatility, it is important to remain cautious and aware of market trends. It is also important to use the right trading strategies to weather the volatility and make profits.
Bitcoin technical analysis
Of course, Bitcoin, the largest cryptocurrency on the market, is also analyzed. On a technical level, we see a mix of signals. Bitcoin is trending lower on the lower time frame lower highs And deeper lows. This suggests bearish short-term sentiment. However, there are also signs of a possible recovery, with recent bullish moves and a possible rebound ‘tweezers below‘ formation in some diagrams.
The crucial price of $83,000 remains a major hurdle. A successful break from this level could confirm further uptrend. On the other hand, if this resistance is not broken, we can expect a bearish scenario, with a possible pullback to lower support levels.
Cardano (ADA) and Sui (SUI)
It’s interesting to look at the performance of Cardano (ADA) and sui (SUI) under these market conditions. While Cardano has steadily recovered from the bottom of the penultimate bear market and even reached new all-time highs, it is important to remember that not all altcoins are on the same path.
Sui (SUI), for example, has shown signs of volatility and recently experienced a bearish rejection following a possible Cup and handle Formation. It is important to analyze the specifics of each project and make an informed decision when selecting investments.
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