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Recently, the Crypto Assets market has shown some interesting changes. From a Technical Analysis perspective, the 4-hour Candlestick Chart of Bitcoin (BTC) has formed a golden cross pattern on the MACD indicator, which is usually seen as a positive signal. This pattern suggests that the market may be entering a phase dominated by long positions, and the possibility of a pump is increasing.
Currently, the long positions are gradually accumulating, which lays the foundation for a potential price pump in the future. Notably, BTC has found strong support around $116,800, which further strengthens the confidence of the long positions.
For Bitcoin, the current price range fluctuates between $116,200 and $116,700. If this trend continues, we may see the price move towards the range of $118,500 to $119,000.
Ethereum (ETH) is also showing a similar trend. Currently, the price of ETH is hovering between $4,380 and $4,340. If market sentiment continues to improve, we may see the price of ETH climb to the $4,500 to $4,550 range.
However, we must bear in mind that the cryptocurrency market has always been highly volatile, and investors should conduct thorough research and risk assessment before making any decisions. Moreover, market trends may be influenced by various factors, including macroeconomic factors, changes in regulatory policies, and technological developments.
Overall, although the current technical indicators appear to lean towards optimism, investors should remain vigilant and closely monitor market trends. In this rapidly changing field, timely information and calm judgment are often key to success.