Market analysis: BTC rises strongly, mainstream currencies return to strength
After the Bitcoin price closed the next day, there was a pullback. The price reached the highest position of 10322 and returned to the position before the decline. The current price has dropped slightly, but the overall price is still above 10180.
Looking at the daily line level, the price returned to run near the middle rail of the Bollinger Bands again, and broke the middle rail of the Bollinger Bands in the morning. The upward momentum this time can be said to be very strong, directly making up for the retracement of yesterday's pie, and the current Bollinger Bands continue to maintain an upward closing posture. The 60-day moving average has always been sideways at the 10380-10400 line to suppress the price. Whether this price increase can continue or even break the previous high point, the key to a successful breakthrough at this line. What needs to be paid attention to in the short term is the suppression of the 10260 position of the middle rail. The MACD is still running below the 0 axis, and the trend is gradually showing a golden cross trend, but the bulls still need to work hard if they want to further form and continue the upward trend. RSI and Stoch are currently above the 50 level, showing heavy volume. The price outlook still maintains the possibility of continuing to rise.
Looking at the 4-hour chart, the price rise in the early morning directly broke through the middle track of the Bollinger Bands, and the current price is maintained between the middle and upper tracks of the Bollinger Bands. The Bollinger Bands show an upward opening posture, and the 5-day moving average is increasing in volume. On the hourly chart, after the price broke through the upper track of the Bollinger Bands in the morning, it made a slight pullback and returned to the middle and upper track of the Bollinger Bands again. However, in the short term, the price still has the possibility of further upward testing. The Bollinger Bands show an upward opening posture, and the 5-day moving average crosses the moving average indicators to support the price at 10200. On the whole, the price of Bitcoin still has the possibility of going up in the short term, but the upper suppression is also more serious. In terms of operation, it is recommended to call back and buy more. The price will enter the market at 10180, stop loss at 10130, and take profit at 10260 first. See 10320.
ETH has always maintained a strong posture. Although yesterday's downturn caused a short-term retracement, the ETH bulls did not give up resistance. The overall price of the daily line level still continues an upward posture. At present, the price has returned to run above 220 again. It can be said that a long-short conversion has been completed, and the price has returned to strength again. In terms of operation, maintain a long-term thinking, the price retraces 216 to enter the long position, the stop loss is 213, and the profit is 224.
In the early hours of the morning, BCH also followed BTC out of a wave of upward movement. The current price is under pressure at the position of 324 on the upper track of the Bollinger Band on the daily line, and we can focus on this position in the future. If you successfully break through, you can see the high point before the fall near 332. If the price fails to break through, the trend is expected to remain volatile. At present, the price still maintains an upward momentum in the short term. Therefore, in terms of operation, it is suggested that the callback should be based on the long-term, the lower part should focus on the support of the 316-313 position, and the upper part should focus on the suppression of the 324-330-332 position.
