Crypto Boom in Q1 2024, But watch out for a looming correction.
Let’s check the upcoming X20-X50.
Here is Techical Aspect Market overview: $BTC, $ETH, $BNB, $SOL, $XRP, $DOGE, $ADA, $AVAX, $SPX
- Q1 2024 saw a surge in risky assets
- S&P 500 rose 10.2%, Bitcoin surged nearly 69%
- Will the trend continue in Q2?
- Investors are optimistic about Bitcoin’s potential, fueled by institutional demand and the upcoming halving.
Traders philosophy:
- Traders beware after strong Q1 performance
- Bull markets have sharp corrections, but dips can be a low-risk buying opportunity for long-term investors
- Watch important support levels in Bitcoin and altcoins to analyze the charts
$BTC
- Bitcoin price near $71,770
- Bears resist despite correction
- Breakout expected with uncertain direction
- Short-term traders may profit below 20-day EMA
- Uptrend possible if price breaks above $71,770 to $73,777 towards $80,000
$ETH
- ETH $3,299 struggling to rise and maintain above $3,679 resistance, showing bearish pressure
- Bears target $3,386-$3,250 and $3,056 support
- Bulls aim to break $3,679 for $4,000-$4,500
$BNB
- Price dropped to $553 on March 29, touched 20-day EMA ($562) on April 1
- EMA is crucial support
- Below could hit $496, with buyers defending
- Bouncing from EMA signals positive sentiment
- Bulls might aim for $645 or even $692 upon breaking it
$SOL
- April 1: $188 SOL faced resistance at $205
- Potential drop to $180 support
- Bounce could push price above $205 towards $267
- Decline below 20-day EMA may lead to a drop towards $147
$XRP
- Symmetrical triangle pattern suggests buyer-seller indecision
- 20-day EMA and RSI show no clear advantage
- Buyers need to break $0.74 resistance for control
- If price falls below the triangle, bears could lead to a drop to $0.52
$DOGE
- Bulls aim to establish $0.18-$0.19 as support but struggle above $0.23
- Bears may push below $0.18, triggering selling toward $0.14
- Breaking $0.23 signals bullish intent with potential rally to $0.30
- Bears could resist and push price down again
$AVAX
- Bulls fighting to hold above $53
- Selling pressure on April 1 pushed pair to $50 support, a crucial point
- Break below could drop to $42
- If price reverses downtrend, potential rise to $60 before resistance at $65
$SPX
- S&P 500 hit new high on March 28
- Watch for potential correction due to negative RSI divergence
- Drop below 20-day EMA may lead to decline to 50-day SMA
- Buyers target price above channel for gains to 5,450
** DYOR before Invest **