April 24th Market Analysis from LBank Derivatives
BTC experienced a significant adjustment last week, with a decline of 9% — the largest drop in the current upward trend. This week’s market is expected to be characterized by upward fluctuations. Similar trends can be observed in ETH, CFX, and ARB, with buying opportunities on trendlines.
BTC had a substantial adjustment last week, with a weekly decline of 9%, marking the largest drop since the beginning of the current upward trend. Currently, the price is hovering around $27,800. For this week, the main trend is expected to be upward fluctuations.
BTC weekly chart: The price is approaching the upward trendline of this cycle, suggesting that it is an appropriate time to buy on the trendline.
After breaking through the previous high of $2,100, ETH also experienced a significant drop. Currently, it is near the upward trendline of this cycle, suggesting that buying on the trendline is a good strategy.
Notable Altcoins
The daily decline from the highest point has reached almost 40%. According to the daily trendline, buying on the trendline is recommended. It is advised to attempt buying at this point.
The current price has fallen to the previous breakout consolidation platform.
From here, a bounce back to the platform’s upper edge is expected. If it fails to stand above the platform in the short term, further consolidation within the platform is anticipated.
In conclusion, the current market situation for BTC, ETH, CFX, and ARB presents buying opportunities on their respective trendlines. As always, it is essential to conduct thorough research and consider individual risk tolerance before making any investment decisions.
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Disclaimer: The opinions expressed in this blog are solely those of the writer and not of this platform.
