BTC once again dropped to the previous lows, and may go down again after the shock
The price of Bitcoin has dropped again, and it has reached the previous low again during the day. The author Yu Jixin also said in a previous article that after all the good news in the past two weeks, the situation is not optimistic if the big pie cannot complete the rise. Now that the price continues to decline, it is even possible to refresh the low point within the day , then the follow-up operation is still recommended to maintain short thinking.
Looking at the daily line level, the price has been negative for 3 consecutive days, and the current price has a further downward trend. The current price keeps going down to test the support of the lower track of the Bollinger Band. If it breaks through this position, and then goes down to refresh the previous drop point again, then there is a chance to drop 9500-9400 below. Judging from the current situation, it is more likely to break through. The Bollinger Bands show a downward opening posture, and the 5-day moving average runs downward at the 9950 position to suppress. On the indicators in the attached figure, the MACD is lower than the 0 axis, and the RSI and Stoch continue to decline. The overall trend is still biased towards the bearish.
At the 4-hour level, the price has broken the lower track of the Bollinger Bands, and the Bollinger Bands are showing a downward opening posture. The price has not yet maintained a downward posture, and the 5-day moving average is suppressed at the 9840 position. On the hourly chart, the price has always followed the lower track of the Bollinger Bands. Although the lower track of the Bollinger Bands has been falsely broken many times, it quickly closed and returned to the middle and lower tracks of the Bollinger Bands. All the moving average indicators showed a downward trend. In the short term, the price of Bitcoin will show a posture of shock and adjustment, but the overall downward pattern will not change. Below, the main focus will be on the support at the 9700 position. If the position is broken, it can be followed up to the 9632 position, and the position will be broken again to see the 9500 position. If the price does not break through the 9700 position, then the rebound will enter the short position at the 9840-9850 position, stop loss at 9900, and take profit at 9700.
Following the retracement of this wave of pie, ETH also gave a relatively large decline. At present, the price is constantly testing the support at the 200 position. If it breaks, you can see the 196-195 position, and then look at the 192 position. However, like the copper pie, the price is expected to remain above 200 in the short term. In terms of operation, it is still suggested that the short-term thinking should be the main idea. At the top, you can pay attention to the suppression at the 205-210 position, and at the bottom, you can focus on the support at the 200-195-192 position.LTC is the second-tier mainstream currency with the largest decline in the retracement of the big pie. The price directly pierced the middle track of the daily Bollinger Bands with a negative line within the day, and then broke the lower track of the Bollinger Bands. Although the current price rebounded, it resumed Going back to run between the middle and lower rails of the Bollinger Bands, but the downward trend of prices has not changed. It is recommended to focus on high altitudes for follow-up operations, and be cautious with long orders. The upper part focuses on the suppression at the 68-70 position, and the lower part focuses on the support at the 65-62 position.
