The BTC rebound is hindered and then tested the support of 10,000 US dollars, reflections under the recent volatile market
The news is still calm, and the disk has not changed much. Continue to organize the trend in the range,The overall market has fallen into a state of shrinking order. This is also the characteristic of the end of the phased market, the potential energy of the long and short sides is relatively balanced, and the mutual testing between the small groups, each winning and losing, it is difficult to have a big market.
Before analyzing the market trend, we have always usedThe MA60 moving average at the daily line level is used to judge the general trend and direction. The current position of the Bitcoin market is a very embarrassing point, located between the MA60 and MA90 daily moving averages, as shown in the figure below.
The trend in this range is dominated by shocks, the market is weak, and there are supports and pressures below, but they are all unstable.Under the premise that there is no amount to match a strong breakthrough, the market will continue to paddle, and the long-short game will continue until one side's potential energy takes the dominant position.。
For the recent trend of Bitcoin, we connect the high and low points to form aDescending triangle finishing form, the rebound height is lower every time, and the volume can gradually shrink, It is expected that the trend in late August will continue to be organized along the triangle shape as a whole. The market has already gone through 2/3, and there is not much time for both long and short parties.
Overall,BTC is the weathervane of the market at this stage. With BTC shrinking, mainstream currencies and altcoins will not have a very good market, and will only follow suit. The existing funds in the market have always been limited, and they have been apportioned among platform coins and many new currencies. It is difficult to have incremental funds to take care of old currencies, so we must be cautious about altcoins.
At present, the good news that can support the independent market of mainstream currencies, including the halving market of BCH and BTC, and the upgrade of ETH 2.0, etc., are still several months away. therefore,The focus of short-term operations can be summed up in four words: buy low and sell high. Buy at the bottom of the range, sell near resistanceOperation suggestion:
Operation suggestion:
BTC: Hourly line level, BTC failed to hit 10,800-11,000 dollars twice. The lack of volume and energy led to short-term pressure on the market. The upward trend line that lasted for a week was broken, and the market fell for a short time. 10,000 US dollars was the short-term support.
$10,000 is an important psychological threshold for BTC, which has a great impact on market sentiment. If it can stop the decline and stabilize, the market will hit the pressure level again. If it cannot be held, the market may fall to the range of 9000-9500 US dollars under the two-way attack of short-term market sentiment panic and futures contract liquidation.Under the volatile trend in the small area, the long-short reversal sometimes only takes a moment, and the short-term market risks intensify, so continue to wait and see。
ETH: Under the downward trend of the market, the support of 200 US dollars failed to stand firm, and fell simultaneously. The 4-hour level K-line showed a circular top trend, and the market was weak. The short-term opening point is in the range of 170-185 US dollars.
LTC: The rebound is the weakest, the decline is the most violent, and it has returned to around 70 US dollars, testing the support of 70 US dollars. The short-term market is weak, and it is cautious to buy bottoms.
BCH: Following the decline of the big pie, pay attention to whether it can stand at $300 in the short term, and a small amount of positions can be opened in the range of $270-300.
EOS: The volume of the market is weak, and the range of rise and fall is relatively limited. This does not mean that EOS has stopped falling and stabilized.The main force of the EOS market has been transferred from retail investors to bookmakers, and it is in the futures market, and the spot market shows signs of shrinking. In the short term, focus on the weak support of $3.5.
XRP: How did it rebound a few days ago, but it fell back to its original position today. It is not recommended to open a position before it fails to break through 0.3 US dollars.
TRX: The trend is similar to XRP, the market is weak, and the short-term strong pressure is 0.02 US dollars. Before breaking through, it is not recommended to participate.
Platform currency: follow the downward trend of the pie. For the platform currency, it is in a high-level consolidation trend in the short term.The only thing to be wary of is the risk of a plunge if the market continues to deteriorate. In a short period of time, it is difficult to release risks, and the situation of currency holders’ selling pressure has not appeared. IEO projects continue to go online, and the lock-up mechanism of the platform currency itself also limits a large number of circulating disks. But we need to know,The so-called methods and strategies are time-sensitive and cannot be effective forever, nor can they resist the profit-seeking of funds and the greed of human nature. BNB short-term consolidates the trend in the range of 26-30 USD, and pays attention to risks when it falls below 25 USD; HT 4.8-5 USD ranges, and pays attention to risks when it falls below 4.4 USD; OKB pays attention to the support of 2.45 USD in the short term, and the risk of falling below intensifies; GT pays attention to the support of 0.8 USD pressure situation.
Altcoins: The overall linkage with the trend of Bitcoin has a short-term decline. It is not recommended to chase the rise and kill the fall. Those who can’t stand loneliness and want to buy bottoms should pay attention to the currencies whose short-term volume can continue to increase and the 4-hour MA60 moving average forms a strong support. In addition, if you have any currency you want to analyze, welcome to ask questions in the message area.
