Bitcoin Enters Golden Zone...Bottom Reached, Countdown to Surge

▲ Bitcoin (BTC)

Major virtual assets, including Bitcoin (BTC), are entering a key price range known as the "golden support line," signaling a halt to their downtrend and preparing for a full-fledged rebound.

According to the cryptocurrency media outlet Benzinga on April 9 (local time), despite the recent increase in volatility in the virtual asset market, Bitcoin is forming strong support in a specific price range. Analysts diagnose that Bitcoin has reached the so-called golden zone, between the 61.8% and 78.6% Fibonacci retracement lines. Historically, this range has served as a critical turning point where selling pressure subsides and accumulation forces enter the market.

Solana (SOL) is also holding firm above the $120 mark, maintaining relative strength even in a bear market. With network activity and ecosystem expansion continuing, Solana has defended key support levels, increasing the likelihood of a technical rebound. Benzinga analyzed that if Solana successfully settles in the current range, it will establish a foothold to break through short-term resistance and resume a rally towards new highs.

XRP and Dogecoin (DOGE) are also showing signs of bottoming out, attracting investor attention. XRP has successfully defended the $0.60 range, demonstrating resilience above the market average despite ongoing legal uncertainties. Dogecoin is retesting previous breakout points, confirming downside rigidity, and accumulating energy for a bullish reversal, with whale accumulation activities being detected.

Overall market indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are also gradually recovering from oversold conditions, supporting improved investor sentiment. Analysts evaluate the current correction as a healthy process to cool down an overheated market and part of a long-term uptrend. With institutional investors' spot ETF buying supporting the downside, the confirmation of technical bottoms for individual assets is expected to accelerate overall market liquidity inflow.

The virtual asset market is highly likely to transition from a phase where selling pressure weakens to one where buying forces take the lead, starting with the entry into this golden zone. The phenomenon of major cryptocurrencies simultaneously signaling a bottom signifies qualitative growth in the market and appears to be the prelude to a powerful rally to unfold in the future. Investors are monitoring the breach of key support lines and weighing new entry points.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*