The Bitcoin situation is still not optimistic, and Ethereum is the first to go up
After the 7th consecutive cloudy days, the price of Bitcoin had a slight upward trend in the morning, but the good times did not last long. The strong bears are always holding down the bulls, and the price quickly fell after reaching the 8837 position in the morning. The white market never stood above the 8800 position again in the day, and the situation is still not optimistic.
From a short-term perspective, at the 4-hour level, the price has always remained between the middle and lower rails of the Bollinger Bands within the day. Although the middle rail position is still there after many upward tests, they were quickly suppressed. At present, the price is under pressure from the 5-day moving average and the 10-day moving average, and the pressure from the upper side is getting stronger. It is still quite difficult for the price to further develop upwards. From the indicators in the attached picture, MACD is flattening below the 0 axis, and RSI and Stoch are running below the 50 level. Although they are showing an upward attack posture, they lack kinetic energy.
On the hourly chart, the Bollinger Bands are currently closed, and the price operation space is further compressed. At present, the price is going down to test the support of the middle rail position. At the same time, this position is also brought together by the 5-day, 10-day, and 30-day moving averages. The support is still relatively strong. However, once the price breaks down this position, it should be a relatively simple matter that the market is expected to accelerate again to the bottom 8650-8600. Under the current situation where bears dominate, the author Yu Jixin suggests that the market outlook in the evening should still be based on short ideas. If the price successfully breaks through the 8750-8730 position, you can take advantage of the trend to follow up with empty orders, and the target is to see the 8600 position.
The intraday trend of ETH also experienced a wave of decline, but the current price once again showed an upward attack intention. On the 4-hour chart, the price has broken through the middle track of the Bollinger Bands, and the trend of the Bollinger Bands is also showing an upward trend, and the 5-day moving average is showing an upward trend. Looking at the attached indicators, the MACD is gradually showing an upward trend of the golden cross near the 0 axis. RSI, Stoch increased volume at the 50 level.
On the hourly chart, the price is currently moving towards the upper track of the Bollinger Bands. The Bollinger Bands are currently in an upward posture, with the 5-day moving average crossing 30 and the 10-day moving average supporting the price at 186. On the whole, there is still the possibility of further upside in the evening market outlook of Ethereum. The upper part focuses on the suppression of the 187.5-190 position. In terms of operation, it is recommended to do more at low positions within the range. Look at the 190 position for the profit stop position, and look at the 194.5 position if you continue to hold the position.
