BTC market analysis:
Bitcoin continued to fluctuate at a high level yesterday, and the price fluctuated back and forth within the range of more than a thousand points, but the market did not break through and stabilize the 60,000 mark as expected, breaking the turbulence pattern and stepping out of the upward trend. In the early morning of the day, the opening market reversed, and the price broke the dual suppression of 58700-58000. The current low touched the line of 57000 before it rebounded.
The intraday fell by more than 2,000 points. Follow-up beware of the downward trend again.
On the daily-level chart, the intraday market went down to break the shock range, and the attack line hooked down to form a line of suppression near 58900. The overall trend is gradually weakening, and bearish sentiment is increasing.
However, the key support of the lower Bollinger Band track has not been broken, and the daily market may still counterattack. Therefore, the follow-up will focus on the strength of the 56300 first-line support, and the market will continue to fall below the risk of falling below it again.
Looking at the four-hour chart, the price has been under pressure and has fallen below the middle rail position. The low level has tested the lower rail to support the rebound, but the follow-up upward movement is relatively weak, and Bollinger shows signs of a slight opening. If the market cannot continue to rebound in the follow-up , Break through to stabilize the position of 58,000, and the price may fall further. The short-term trend tends to be downward, so short orders are recommended for intraday operations.
BTC operation strategy:
- Make short position when the price goes near 58600, stop loss: 58900, target profit 58000-57700
- If it breaks through the 56500, Make long position, stop loss: 56200, and target profit at 57100-57500
ETH market analysis:
Ethereum continued its upward trend yesterday. After the high touched near 2150, it was under pressure and entered a high consolidation. Many attempts in the evening failed to make a breakthrough, and the trend entered a high consolidation again. By today's opening market, the market reversed. The price fell below the key support of 2065. It continued to fall and hit the 2000 mark before rebounding. The price is currently running around 2040. Since the key support has not been broken in the day, the long and short sides still maintain a stalemate.
Looking at the short-term hourly chart, the Bollinger Bands are in an open posture, the market reverses and falls in the lower middle rail area, and the price rebound is under pressure near the 2095 position. The middle rail resistance is slowly moving down, but the price has retreated several times. Signs of the bottom, so the short-term operation of the market will maintain a callback order, so the operation is high and low. The top suppression focuses on the vicinity of 2095, and the bottom support focuses on the 2000 line.
ETH operation strategy:
- Make short position when the price rebounds 2090, stop-losses: 2105, target profit: 2060-2040
- If it breaks through the 2005, Make long position, stop loss: 1990, and target profit at 2040-2060
The analysis is time-sensitive, and the posting is always delayed, so please take the real-time market as the standard. Re-emphasize, do a good job in risk control, no matter how well you judge the future market, you must control your stop loss and target profit!
Thanks a lot for this educative post. I never new Ethereum is time sensitive.
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Thanks for the alert
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We are just bouncing up and down but going sideways whilst alts gave their day in the sun!
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