Bitcoin bulls make a strong counterattack, while bears temporarily avoid the edge
The price of Bitcoin did not fluctuate much during the day, and the price went down and touched the 8728 position without falling below it, and then went out of a slight recovery. The current price is back to run above 8800 again. The short-term price shock pattern is expected to remain unchanged, and this wave of counterattack by the bulls has indeed added some confidence to the market, but the price has not broken the suppression above, and a strong upward attack is still expected to come. Currently facing heavy suppression, the upward movement is still difficult. In terms of intraday market outlook, it is recommended to sell high and buy low within the range. At the top, focus on the suppression of the 8890-8920 position, and at the bottom, focus on the support at the 8800-8720 position.
Ethereum went out of a relatively gratifying upward trend within the day, and the price fell back after hitting the upper high of 188.98, which is also consistent with the upper resistance position mentioned by the author in the morning. The current price is running at 186.83, and the upward momentum has begun to converge. It is expected that the market outlook will maintain a volatile trend, which will be a high probability event. On the 4-hour chart, after the price rose in the previous period, it touched the upper track of the Bollinger Bands and then fell back under pressure. Finally, it closed a Yang K with a lead line, indicating that the upper resistance is also relatively strong, and the price wants to rise in the short term. A breakthrough is expected to require a new round of accumulation. At present, the 5-day moving average line intersects with the Bollinger Middle Rail at 185.3 to support the price, and the market outlook can focus on it. Followed by 184.8 position support.
Looking at the hourly chart, the price of Ethereum is currently out of a wave of highs and downs. The price has been negative in the past 3 cycles, and the blind circle has fallen back to run in the Bollinger Bands channel. The trend of Bollinger Bands is still opening upwards, and the 5-day moving average maintains an upward trend. The 60-day moving average, the 30-day moving average and the Bollinger Band middle track meet at 185 to support the price. In terms of future market operations, it is suggested that the 185.3-185 first-line position can be used as the entry point for long orders, the stop loss is set at 183, and the stop profit is at the upper 188.9 position. When the price reaches the upper 189 position, you can consider entering an empty order, stop loss at 192 position, and take profit at 185 position.
