Daxian talks about coins: Trump made a high-profile shill on March 4, be careful about chasing more after Bitcoin rebounds!

The US President Trump on the 2nd dropped a bombshell, announcing that Ripple, SOL, and ADA will be included in the US cryptocurrency strategic reserve plan, and the market is in a frenzy, with the price of Bitcoin soaring 10% at one point, but its market share plummeted, falling below the important 50% mark. Although Trump later emphasized that Bitcoin and Ethereum are still the core assets of the cryptocurrency reserve, the news exposure has still triggered a "capital migration" in the cryptocurrency market, with Bitcoin's market share falling from 55.4% to 48.84% in just a few hours. At the same time, altcoins have risen across the board, with ADA surging 60.3%, Ripple also soaring 34.7%, and SOL rising 25.5% and 13.1% against Ethereum respectively. It is worth noting that other unnamed altcoins have also risen synchronously, while Bitcoin's gains are relatively low, barely 10%. But it has to be said that Trump's shilling effect is quite amazing, as Bitcoin went from around $85,000 to nearly $95,000 in just two hours before pulling back, closing at $90,500, with a daily gain of 5.2%. Looking at the Bitcoin 4-hour chart, the price has rebounded strongly from the low of $78,258.52 and successfully broken through the resistance of the Bollinger Band middle line. Currently, the price is approaching the pressure zone of the Bollinger Band upper line, and there may be a risk of short-term price correction due to the pressure in this area. As the Bollinger Band opens upwards, the market volatility has increased, indicating that the current market is in an upward trend. However, short-term price adjustments are also inevitable. Currently, Bitcoin has entered a critical pressure zone of $90,000 to $92,000, and if it breaks through the upper line further, it may challenge $95,000, but if it pulls back, it needs to be wary of the $88,000 support. According to the KDJ indicator on the 4-hour Bitcoin chart, the K-line and D-line values have risen to around 80 and are approaching the overbought area, indicating that the upward momentum in the market may slow down in the short term. In addition, the reversal trend of the J-line may signal the formation of a death cross, and the market may see a correction in the short term. The market has entered the short-term overbought zone, and there will be a demand for correction in the short term. Finally, according to the MACD indicator on the 4-hour Bitcoin chart, the DIF line and DEA line are both running above the 0 axis, but both lines are turning downwards, and the red MACD histogram is also shrinking, indicating that the current market is in a correction state. Once the DIF line crosses below the DEA line to form a death cross signal, it will further confirm the corrective trend. Looking at the 1-hour Bitcoin chart, the price is currently experiencing a strong rebound, having broken through the previous upper line of the Bollinger Band, and the market volatility is continuing to increase. After a failed attempt to reach the high of $96,000, the price is now consolidating and adjusting around the $90,000 level. There is a need for short-term adjustment, and if the price falls below the lower line of the Bollinger Band at $89,000, the market may further decline to around $87,000. However, if the lower line is firmly supported, it may challenge the $92,000 to $94,000 range again. According to the KDJ indicator on the 1-hour Bitcoin chart, the K-line and D-line values are at the low of 30, but have not yet fully entered the oversold zone, and may still fluctuate in the short term. The J-line has shown signs of a bottom reversal, and if the K-line crosses above the D-line to form a golden cross signal, there may be a short-term rebound in the short term. Conversely, if the KDJ fails to form a golden cross signal and continues to decline, the price may adjust to lower levels. Finally, according to the MACD indicator on the 1-hour Bitcoin chart, the DIF line and DEA line have formed a death cross above the 0 axis, indicating that the price will move downwards in the short term. At the same time, the green MACD histogram is gradually growing, indicating that the bearish force is stronger, and the depth of the downward adjustment may be deeper. In summary, after rebounding from the low of $78,258, Bitcoin tested $96,000 unsuccessfully and is now consolidating around $90,000. From the 4-hour chart, the KDJ is about to form a death cross signal, and the price is falling from the Bollinger Band upper line to the middle line, indicating that the current trend is bearish.