Can Bitcoin's potential "head, shoulder and bottom" be formed and ETH will rise rapidly? How to look at the follow-up market?

Bitcoin bottomed out and recovered, forming a potential head shoulder bottom structure at the 4H level. It is hoped that bitcoin will continue to impact upward and test the pressure level of US $52000.As for the structure of the head, shoulder and bottom, I would like you to know a few points:

1. As for the basic knowledge of morphology, don't ask others if you can understand it by Google.

2. There are successes and failures in the analysis of any form. How about the success results of understanding the head shoulder bottom structure?How about the failure?That way, you can do well in the actual transaction.

To put it simply, if the head shoulder bottom structure is formed, it needs to break through the neck line, and then the target position is the projection of the neck line position from the bottom of the head. on the contrary, failure means falling through the neck line, then the head shoulder bottom structure fails.

1. At present, the right shoulder at the bottom of the "head, shoulder and bottom"has not been formed, and now the operation belongs to gambling formation. The potential pressure position is the neck line position, and the stop loss position is in the head area.

Let me give you an example of failure. It's about the ETH / BTC trading pair. I once told you that we should form a head shoulder bottom structure at the weekly level, and predict that ETH will outperform BTC in this bull market.At that time, the transaction was right, breaking through the neck line, and the top of the "head, shoulder and bottom"was basically formed.However, on February 8, the position of the trading pair falling below the neckline has been adjusted downward.This is a case of failure. I want to tell you this.

Any way of analysis has its limitations, so we must learn somETHing thoroughly, do a variety of coping measures, and do not take it out of context.In addition, any technical analysis has its limitations and is a problem of probability.And we can improve the accuracy of our own operation by 1% through technical analysis, which is enough for us to overcome the market.

Of course, sometimes the use of structure can accurately predict the potential target position, thus making accurate decisions.For example, the bottom of fil a few days ago forms the structure of head shoulder bottom, and the target position is exactly on the predicted target position of head shoulder bottom.

Through the above three examples, we can get a general idea of what technical analysis is analyzing.

First of all, technical analysis is to help us make more reasonable investment and improve the accuracy of our investment.

Second, technical analysis will fail, so don't expect to learn technical analysis to ensure 100% profit.

Third, learning technical analysis is useful, at least it can make your investment more reasonable, and help you find the position of stop profit and stop loss.

From the hour line, bitcoin broke through the downward trend line, and in the process of callback, it repeatedly bottomed out and did not create a new low, basically showing a stronger trend.The upper pressure level is still around $51000, which can be broken through to form the head shoulder bottom shape and continue to pull up.

It has been predicted that bitcoin will rise to $100000, and bitcoin is replacing gold.$100000 may be the next price threshold for bitcoin.In the process of price discovery, bitcoin is becoming more and more mature. However, we can see that demand is increasing, supply is decreasing and macroeconomic environment is becoming more and more favorable in the upward trend. A simple analysis shows that bitcoin will keep its own pace.After reaching the initial threshold of 2021, which is slightly higher than the market value of US $50000 and US $1 trillion, bitcoin is ready to stabilize for a period of time and continue to make efforts in the future.

From the perspective of ETH, after breaking the rising wedge, it has stepped out of the extended flag shape, and has broken through the downward trend line. According to the graph, the target position is around $1630, and upward is around $1680.

In addition, on March 5, eip-1559 was officially included in the upgrading of Ethereum "London" hard fork. In addition, at least five other EIPs will also be included.The "London" hard fork is expected to start in July.It is reported that eip-1559 attempts to reduce transaction costs by introducing fixed fees and destruction mechanisms. It was first proposed by V Shen in 2018. It is expected to make the toll market of Ethereum blockchain more predictable and ease congestion, but the opinions of miners are not consistent.

Another data worthy of our attention is the US dollar index. From the data point of view, the US dollar index is facing the pressure of 92. If we can break through this resistance, it will open up room for rise.So next week is going to be very critical, focusing on whether the dollar can successfully break through the regional resistance.

The seasonal index of altcoin is maintained around 63, not reaching the pressure zone of 75. The falling market of altcoin may continue, and the altcoin of hot plate is still the focus of investment.

For the future market, the trend can not be confirmed, many currency "head shoulder bottom" form is in the formation stage. in addition, whether the impact of the financial market will affect the trend of bitcoin is unknown.What we do now is to use technical analysis to do short-term trading, wait for confirmation of the general direction, and place bets in large positions.