BTC has stopped falling and rebounded in the short term, and it is still too early to say that the market will pick up
As mentioned in yesterday’s article, if BTC can stop falling around $7,700, with the end of the November holiday, many people will return to trading, and there is a high probability that the market will start a rebound trend. Yesterday afternoon, BTC started to rebound, and there was some energy at the 4-hour level, which drove the market higher for a short time, and it came to around 8,300 US dollars, near the pressure of the MA90 moving average.
Compared with the shrinkage and decline in the previous few days, the volume of these two days can be reflected, which can be regarded as an effective rebound, which means an increase in buying. We can also see from OKex's BTC contract big data that the total amount of BTC contract positions has increased slightly. The rise has increased from more than 6 million after the waterfall on September 25 to the current 7 million. The buying power of retail investors is relatively active, and long positions have a slight advantage.
But on the whole, whether it is the 4-hour level trading volume or the total contract position, there is no obvious trend of enlargement compared with before, soOn the news,。
On the news,There are not many positive factors to support the strengthening of the disk. The Bakkt futures exchange, which was launched in September, has maintained a daily trading volume of around 50 bitcoins for a week since its launch. If you don't come, the market will hardly improve under the game of existing funds in the market.
At this stage of the market, if you want to perform well, you must pull the market to let the participants see an obvious trend. This has been the case for several major market movements this year.The price of the currency can be pulled up by funds and volume. With the good news, the market can see hope and follow the linkage. Once the funds can't keep up, after a long period of consolidation, they will fall into the curse of falling forever. As long as the market falls, the altcoins will not have a good profit-making effect, forming a kind of "People inside the circle want to go out, people outside the circle don't want to come inOperation suggestion:
Operation suggestion:
BTC: The 4-hour level rebound trend, rebounded from 7700 US dollars to 8300 US dollars, suppressed by the MA90 moving average. The amount released is not large, unable to support a larger level of upward trend, and the short-term is suppressed by the MA90 moving average. The short-term support is at 8,000-8,100 US dollars. If it pulls back to this range, it can stop the decline, and there is still room for a rebound in the future. The first pressure level above is 8,500 US dollars. It is difficult to break through when the amount is insufficient. In the short term, we will continue to look at the volatile trend, and we will mainly wait and see as a whole.
ETH: The rebound trend in the past two days, the MACD golden cross at the daily level has just formed, if the follow-up volume is insufficient, the rebound trend may be destroyed. The short-term pressure is 185 US dollars (MA60 daily moving average), there is still room to pull up after the breakthrough, the short-term support is 168 US dollars, and stop loss operation should be paid attention to after breaking through again in heavy volume.
LTC: The daily level is generally in the range of 50-60 US dollars to organize the trend, and the pressure is 60 US dollars. It is difficult to break through if the volume is insufficient. In the short term, it is mainly on the sidelines.
BCH: The daily level is weakly rebounding, and the MACD golden cross is also forming. The support of 230 US dollars can be stabilized, and there is still room for improvement. The upper pressure is in the range of 250-260 US dollars.
EOS: The short-term rebound trend is strong, the support of 3.15 US dollars can be stabilized, and it is hoped that it will continue to rebound to 3.5 US dollars (MA60 daily moving average) range.
XRP: The vanguard of this rebound, the volume and price have cooperated to reach the pressure position in the range of 0.28-0.3 US dollars. It is not suitable to chase higher in the short term, and pay attention to the risk of rising and falling.
TRX: The rebound trend at the daily line level is relatively obvious, and it has reached the position before the plunge. It is suppressed by the MA60 daily moving average for a short time. If it can be effectively broken through, there is still room for further growth.
ETC: The trend is sideways at the daily line level, the trend is weak, and the short-term pressure is 5.15 US dollars. Before breaking through, wait and see.
Platform currency: The overall trend is weak, and the daily line level is coordinated with the broader market. In the short to medium term, continue to pay attention to the breakout of the bottom support and pressure levels. BNB short-term support is 14 dollars, pressure is 17 dollars; HT support is 2.9 dollars, the pressure is 3.4-3.5 dollars; OKB short-term support is 1.9-2 dollars, the pressure is 2.3 dollars; GT is 0.5 dollars, and the short-term is in the range of 0.5-0.55 dollars. .
Altcoins: A small number of currencies have rebounded slightly. It is not recommended to enter the market to chase higher unless they ambush in advance. It is only recommended to pay attention to the currencies you hold, and the currencies whose volume can suddenly increase in a short period of time, and pay attention to risks.
