Foreign Media: Bitcoin and Mainstream Altcoins Remain Under Pressure

Foreign media analysis indicates that #BTC Bitcoin, XRP, Shiba Inu, and Dogecoin are currently in a weak trend. Multiple assets have approached their yearly lows or key support zones. Although technical indicators show potential for a short-term rebound, the overall downward structure has not been broken.

Bitcoin Returns to Key Support Zone

The article states that Bitcoin failed to hold above $80k, then weakened again and fell back to the $58k to $60k range. This area attracted buying during the June decline, so it is considered an important support level at the current stage.

From a technical perspective, BTC's daily chart still shows lower highs and lower lows, with the 50-day, 100-day, and 200-day moving averages all above the current price and still declining. The article suggests that this indicates the medium- to long-term trend has not yet turned bullish.

Key support zone: $58k to $60k
Rebound repair level: around $65k
Upper stronger resistance: around $70k

The article also mentions that trading volume has increased during the recent decline, indicating ongoing selling pressure. If the $58k level is lost, the market may face a new wave of liquidation pressure; if this area holds, a technical rebound may occur first.

XRP and SHIB Remain Weak

Among several altcoins, XRP is still considered to be in a clear bearish structure. The article points out that after breaking below long-term support around $1.30, XRP has failed to reclaim the 50-day moving average and is now approaching the round number of $1.

Although the Relative Strength Index is near the oversold zone, the article believes that oversold signals alone are not sufficient to confirm a bottom. To improve the short-term structure, XRP needs to first reclaim the $1.15 to $1.20 range and regain the short-term moving averages.

Shiba Inu's trend is even weaker. The article states that the short-term rising support line formed after the June decline has been broken, and the price remains below the main moving averages, indicating that sellers still dominate. If the $0.0000049 to $0.0000050 area cannot be reclaimed, it will be difficult for the trend to see a substantial reversal.

DOGE Underperforms the Market

The article believes that Dogecoin has recently performed weakly in the meme coin sector. DOGE has fallen to around $0.073, near its yearly low, and the multi-month support structure formed since February has been broken.

From a technical perspective, the 50-day, 100-day, and 200-day moving averages are all above the current price, forming dense resistance. Although the RSI is near the oversold zone and a short-term bounce is possible, many of DOGE's rebounds in the past few months have ultimately turned into new declines.

The article states that $0.07 is the key support level for DOGE to watch. If this level breaks, it may trigger further selling; if the current range holds, the price may have a chance to rebound to the $0.085 to $0.09 area.

Overall, this opinion article believes that although mainstream crypto assets have room for technical repair in the short term, it is still difficult to confirm a trend reversal until key moving averages and resistance levels are reclaimed.

⚠️⚠️⚠️Warning⚠️⚠️⚠️
The analysis in the article is often a reverse indicator of the market! Regardless of whether BTC's bottom is 58,000, 54,000, or even 50,000, in the long term, it is all a bottom area!
From a medium-term perspective, blindly going long with 3x leverage in batches at this stage can also yield decent returns!