Both BTC/ETH are accumulating upward momentum, the bull market is approaching, and the increase of Ethereum is expected to surpass that of Bitcoin
As we said in yesterday's content, Bitcoin and Ethereum broke through the resistance level one after another and started an upward market. As of 10 am on February 3, the highest price of Bitcoin was 36,346 US dollars, and the highest price of Ethereum was 1,553 US dollars. Everyone can make a lot of profit before the new year, and go home to have a good year.
In today's video content, we will follow the latest trend of the market and further give the analysis and strategies of the UDB asset management team to help investors grasp the potential bull market opportunities of Bitcoin and Ethereum.
Long-term rating: Overweight
Long-term rating: Overweight
Bitcoin accumulation
Bitcoin accumulation
Today's point of view
Today's point of view
On January 27th, we reminded investors in the daily newspaper that the adjustment of the daily line level points to the end of the adjustment of Bitcoin on February 2nd, which is expected to start a rising market.
At 4:45 pm on February 2, the volume of Bitcoin broke through the resistance level, and after confirmation, it hit a new high and completed the breakthrough.
We remind investors that from a technical point of view, Bitcoin is still in the upward channel breaking through the downward resistance level. It failed to challenge the upper edge of the channel this morning and is adjusting its strength to continue. Once the price of Bitcoin effectively breaks through 36,500 US dollars, it means that it will start an accelerated rise.
Ethereum has continuously broken through the symmetrical wedge and the center of the box, and has come to the upward channel at $1,550, which is similar to the technical form of Bitcoin. If there is an upward breakthrough, it means that it will start an accelerated upward market. This is the first time that the current bull market of Ethereum has started a market above a record high, which means that the upper resistance is minimal. Compared with the performance of Bitcoin, which is about 1 times from the historical high, Ethereum may rise rapidly in the next period of time , Matching or even surpassing the rising performance of Bitcoin.
In terms of Bitcoin’s market capitalization, at the daily level, LOG MACD has shown rising demand, and RSI has also touched the oversold position. We remind investors that with Bitcoin’s technical breakthrough, Bitcoin’s next rising market will beat Most of the small-cap cryptocurrencies that have performed very well before, investors can choose to make appropriate position adjustments based on their own investment logic and risk preference. Our rating on small-cap cryptocurrencies remains unchanged.
On the economic front, the Biden administration may choose to bypass the Republican Party to implement the 1.9 trillion stimulus bill. Affected by the news, major U.S. stock indexes rose sharply for two consecutive days, and the S&P index rose by about 4% in two days.
We remind investors to pay attention to employment data and inflation data while paying attention to currency prices. If the employment data growth exceeds expectations or inflation exceeds expectations, the market's expectations for monetary policy tightening will intensify, directly affecting the prices of gold and Bitcoin.
