The mainstream currencies are picking up, will the market outlook continue to rise according to the current trend?
During the weekend, the market volatility was slightly smaller than expected. Before and after the weekly line closed, there were no particularly considerable violent fluctuations. Among them, the stabilization and rebound of BTC after dropping to the key support area became the most important "guarantee" for short-term market sentiment to remain stable. Driven by the 3.66% rebound of BTC in the past 48 hours, most of the mainstream currencies covered by the heat map have risen to a certain extent, but the average increase has not exceeded 2%. In the two days of the weekend, a total increase of about 5% was achieved. For most of the currencies with the highest market capitalization, the weak and volatile situation in the past few weeks has not yet been effectively broken.
BTC has been entangled around the 8000 integer mark for more than half a week, but in the end it failed to get out of a further accelerated decline. Instead, it regained this important psychological mark during the weekend and then accelerated upward. At present, it has completed the recovery of the 8150 line. , At the same time, the market has returned to above the 4-hour 50-period moving average after a lapse of a week. As mentioned in the last Friday’s unpacking, as this wave of rebound came out, the prototype of the triple bottom formed in the past month has found an opportunity to finally take shape, especially after the price regained 8150, the lower support has been very strong. With a large degree of "consolidation", BTC has returned to a strong area.
However, just as what has been shown on the disk in the process of seeing and seeing around 8150 in the past few weeks, BTC has been swinging between strong and weak, but has not yet completed an effective breakthrough on the edge of the larger range of 8450-7700 , which has caused the currency’s shock pattern in the past month to remain unbroken, and mid-line traders will be more tedious in the process of keeping an eye on the market in the past month.
Judging from the information displayed on the current disk, there is still no particularly ideal swing trading opportunity before the 8450-7700 range mentioned above is effectively broken through. Radicals can consider doing it in advance after the price steps back again to confirm that the 8125-8150 area has stabilized. We will enter the market with more than one light position, but even if it goes up as scheduled, we need to wait for the stronger resistance of 8540 to be confirmed to break through before considering it. The target of chasing more is 9000.
ETH is also gradually recovering, but it lacks upward momentum. It still adjusts after being blocked by the previous high resistance area. The trend moves between the 5-day moving average and the 10-day moving average. The 5-day moving average is up and the 10-day moving average is down. If you can successfully stand in the 175-180 area, it is expected to continue upwards. Today, the bulls will be strong. The operation is recommended to call back empty orders, supplemented by long orders. Focus on 177-180 above and 170-172 below. For contract operation, it is recommended to go long at 172-174 and short at 177-180 above
BCH has successfully broken through the suppression of the middle track of the Bollinger Bands, but the upward momentum has decreased, and the trend has entered an adjustment stage at a high level. It still has the ability to attack in the short term. When the price stabilizes in the upper track area of the Bollinger Bands, the trend will continue to continue upwards. The Bollinger Bands are open and parallel, and the indicators in the attached picture have a strong upward will, and the follow-up trend will enter a volatile upward trend. The author (ZB999810) of the follow-up guidance and consultation suggests that the operation should be based on long orders and supplemented by empty orders. Pay attention to the top 227-230 , 220-217 below.
Starting at 9:00 last night, Bitcoin began to rise steadily, and reached a peak of $8,295 at around 4:00 this morning. An hourly increase of 2.03%; XRP was temporarily at $0.2935, a 24-hour increase of 1.01%. The total market value of global cryptocurrencies is US$222.004 billion, an increase of 2.21% from yesterday; the 24h trading volume is US$55.204 billion, an increase of 9.57% from yesterday.
