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Recently, the cryptocurrency market has shown an interesting trend. The slight rise in Bitcoin (BTC) seems to pave the way for Ethereum (ETH) and other altcoins. From the current situation, as long as BTC remains above $11,610, the overall trend of oscillating upward will not change.
Market observers generally believe that if BTC can hold steady around $11,670, the next target price may be $11,830. However, if this level cannot be maintained, the price may retreat to $11,610. In this case, the entire encryption market may enter a consolidation range, with limited upside potential.
From a longer-term perspective, BTC has started to build a bottom from $111,900 and has successfully moved into a fluctuating upward trend. Currently, it seems to have entered a new phase of slight fluctuations and increases. This suggests that in the coming days, BTC might fluctuate within the range of $11,610 to $11,830. In this case, ETH may see significant growth, and other altcoins may rise accordingly.
In short, as long as BTC remains in a range-bound or upward oscillating trend, ETH and other altcoins have a chance to rise. However, if BTC falls below $11,610 and enters a downward trend, ETH and other altcoins may face downward pressure. This analysis is based on resistance and support levels from the candlestick chart, as well as historical trends.
For the upcoming market trends, investors can conduct more in-depth analysis and predictions by combining technical indicators such as Bollinger Bands, the Vegas Channel, KDJ indicator, MACD, and trading volume. In this uncertain market, it is crucial to remain vigilant and continue learning.
It's just a scam market.