BTC's four consecutive negative declines are about to take shape, triggering a sharp downward adjustment in the mainstream currency market
The governor of the central bank said at the celebration of the 70th anniversary of the founding of China that the goal of digital currency is to replace part of the current price, not to replace M1 or broad currency M2. China's digital currency is a two-tier system of the central bank and commercial banks, which will not change the existing path and system. At the same time, in terms of research, it will not presuppose technical routes and compete in the market. You can consider both blockchain technology and new technologies in the evolution of electronic payment at this stage. Mechanisms compatible with market institutions are also designed.
Today, the BTC trend continues the downward trend and further breaks the previous low point to the 9600 position. It rebounds at noon and returns to the 9700 area in a stalemate. The upper pressure gradually weakens. The short-term trend has entered a shock adjustment stage. , the downside risk is reduced, and it is expected to return to the rising stage.
On the daily chart, the trend has a tendency to fall for four consecutive days, but the heavy volume is not strong, and a rebound is formed at the support of the previous low point, and the pressure continues to weaken. In the downward trend, the attached indicator MACD runs downward, and the RSI indicator continues downward. Once the key support below is broken, it will further go to the previous bottom support area. The STOCH indicator runs downward to the 20 horizontal line. The trend will still maintain a downward phase, but If the follow-up trend stops the decline at the 9600-9700 line, there will be a rebound. Once it stabilizes at the current low point, the downside risk will weaken and the trend will enter the rhythm of the rebound. In the medium and long term, the overall trend will still tend to be volatile , the market lacks momentum, and a deep down can also form an effective offensive, so the recent trend will be a stage of shocks and down, and the operation is recommended to be high-altitude. Today, it is recommended to follow up the empty order at the 9800-9850 line to see the 9700 position. In the medium and long term, you can build positions in batches. After following up near the 9600 line, when the trend breaks down and the pressure increases, you can follow up at the bottom key support at 9400 and wait for a rebound. September has also reached the end of the month. If this adjustment continues It is very likely to pave the way for October. The author will continue to give analysis and guidance in October, and the National Day will continue to be with you.
The trend of ETH today fell directly below 200, and the trend formed a rebound under the support below, temporarily pulling the price back to the position above 200 to prevent the further decline. However, the overall downward trend has taken shape, and the breakout will continue to extend downward. The trend will further test the support at position 190. Once broken, it will return to the bottom support area of 170-180 in the previous period. The recent operation focuses on the key support area. You can follow up the rebound in an appropriate amount and leave the market with a profit in time. It is recommended to operate at high altitudes and lows Mostly as a supplement, follow up the empty order at 205-208 to see the 200 position.
At present, the signs of BTC heavy volume are not strong, but the mainstream currencies are making a large profit, and some mainstream currencies have fallen back to the low point area of the previous bottom again. Before an effective rebound, the downtrend will continue, the operation is mainly short, grasp the correct trend direction, and if there is any uncertainty, please indicate it in time.
