Bitcoin fluctuates and rises in the convergence structure, and the 4H level volatility reaches the lowest level in two weeks. New mainstream projects such as DeFi and DOT series, such as UNI and DOT, are stagnant. Funds flow outward into mainstream currencies such as ETH and LTC. Coins have successively broken through and converged, and the market outlook can be expected.

BTC/USDT review analysis

As shown in the figure, Bitcoin is currently forming a large-scale convergence structure that lasts for nearly 20 days, and the volatility within the institution continues to decline. Its ATR (average true volatility) has reached the lowest level in two weeks, and it may usher in a big market in the near future , focusing on the breakthrough direction of the convergent structure. The short-term support and pressure of Bitcoin are around 34800 and 38200 respectively, and the mid-term support and pressure focus on the 31580 and 41000 lines.

ETH/USDT review analysis

ETH/USDT review analysis

As shown in the figure, Ethereum broke through the triangle convergence structure and the previous high position one after another today, ushering in the highlight moment of Ethereum. It seems that all the fundamentals of the currency circle are moving in the direction of Ethereum's favorable development in the near future, and its upward rush is also imminent. After breaking through the convergence mechanism, Ethereum focuses on the top 1400 large pending order suppression position, the lower short-term support focuses on the previous high around 1350 and 1275, and the mid-term focus on the 1140 line.

As shown in the figure, Litecoin successfully broke through the convergence structure last night. At the same time, Litecoin was also the first mainstream currency to break through the convergence structure, but its stamina is slightly insufficient. The short-term pressure and support of Litecoin are around 170 and 147 respectively, and the medium-term pressure and support focus on the 180 and 125 lines.

This article is for reference only and does not constitute any investment advice