Bitcoin continues to fall and bottoms out, and $10,000 becomes a key point again

In the past few days, Bitcoin has maintained a trend of consolidation between 11300-11600 US dollars, which was broken last night. The short-term smash down, although the amount is not large, it still caused a decline in the market. Judging from the trend,The strength of the bulls to take over is obviously insufficient, and the decline continueson the contrary,

on the contrary,The overall trend of mainstream currencies shows a certain degree of resilience, especially under the leadership of BCH, the disk rebounded slightly,There are signs of stabilization. This is completely opposite to the previous trend of the market. Previously, mainstream currencies and altcoins followed the decline but not the rise. When BTC fell, they must fall. The current situation is worth thinking about.

The reason why mainstream currencies and altcoins have stopped falling is easy to explain. Because it didn’t rise before, and the big pie went up alone, there was no chance before, but now the big pie is stagflation, which gives these coins an opportunity to make up for the rise.

another reason isSelling pressure weakens. Before BTC rose alone, many people changed their positions, not only exchanging altcoins for BTC, but even mainstream currencies for BTC.The BTC market has lasted for several months. On the one hand, it is the entry of traditional investment institutions, and on the other hand, it is actually caused by the exchange of positions by retail investors.. Now those who should change their positions have been changed, and those who have not changed their positions will not move in a short time. The short-term selling pressure of mainstream currencies and altcoins has been greatly reduced.

We know that from October 2017 to January-February 2018, BTC reached the peak first, and then ETH, mainstream currencies, and various counterfeit currencies came. now atAt the point in time when BTC’s market value has risen by nearly 70%, there are differences between the funds behind the BTC trade and the mainstream currency and altcoin trade, which can reflect some problems.

For several months in a row, the funds behind these things have remained motionless. No matter how the big pie rises, they will resolutely not follow the rise. Now it is a little bit tentative. Further observation, if this phenomenon can continue, BTC stops falling and stabilizes, and mainstream currencies take the lead in rebounding, then it may be time for a big counterattack.

In addition, the index that can reflect the emotional level of participants in the digital currency marketFear & Greed Index FGI, today changed from panic to extreme panic, reaching 11, which is close to the lowest point in a year of 9 (the lowest point of BTC from November to December last year). In theory,The current market is far from such a level of panic, that is to say, the market is overly panicked. Whenever this time, remember the words of Warren Buffett, the stock god,Operation suggestion:"

Operation suggestion:

BTC: The continuous decline from yesterday to today pulled Bitcoin from the range of 11,300-11,600 dollars to the range of 10,500-10,700 dollars. The 4-hour line level showed a downward relay trend, and the short forces had the upper hand. The lower support is at 10,000 US dollars. This point is the position where the market started after several consecutive attempts to break through after the previous sharp drop. If you can’t stand firm, this wave of BTC’s small rebound will come to an end, which will cause a larger level of waterfall on the market. .

It is expected that the market will fluctuate in the range of 10000-10500-11000 US dollars in a short period of time. The probability of a short-term large-scale waterfall is low. Therefore, short-term operators can buy a small amount when it falls to the lower edge of the range, and sell when it rebounds to the upper edge of the range. out. Of course, from the perspective of the market, if the shorts are dominant, if they want to rebound, the bulls must use greater volume to pull up. All the rising prices this year have been driven by volume, so volume can is the key signal. For long-term currency holders or regular investors, you can continue to wait and see, waiting for better buying and selling points.

ETH: short-term shrinking order, $200 is the lifeline, and it cannot be broken, otherwise it may cause a catastrophe. From the perspective of the disk, the daily MA180 moving average constitutes a short-term support. Since late May, it has been shrinking. If you want to make a breakthrough, you still need to put a huge amount. In the past few days, it may be a signal not to follow the big pie to plummet, so continue to wait and see.

LTC: The range of 80-100 US dollars is finishing the trend, and the signs of decline are not obvious. On the whole, it is still a wait-and-see, waiting for the action of a strong mainstream currency.

BCH: 1-hour level, the rebound trend is strong, 300 US dollars is the short-term support, and 360 US dollars is the short-term pressure level. The daily line level is still in the mid-term consolidation trend, and the cooperation of quantity and energy is also needed.

EOS: In the short term, the range of 3.8-4.4 US dollars will be sorted out, and the rebound volume will be weak, so we will continue to wait and see.

XRP and TRX: Following the weak volatility of mainstream currencies, if the short-term volume can not be enlarged, the market will not be very good.

Platform currency: Continue to fluctuate at a high level for a short time. HT and OKB pay attention to the increase due to the shrinkage in the early stage. When the market is unstable in the short term, it is necessary to pay attention to the support of key points (HT support level is 4.6 US dollars, OKB support level is 3 US dollars ). GT continues to pay attention to the breakthrough of the key point of $1.

Altcoins: Forked coins of Bitcoin have seen a wave of upward trend, but for these currencies, do not chase high, otherwise it is easy to be caught. In addition, the performance of other currencies is not obvious. On the whole, wait and see, and wait for the performance of mainstream currencies before acting. In addition, if you have any currency you want to analyze, welcome to ask questions in the message area.