Bitcoin Price Recovers, But Still Don't Be Overly Optimistic
The price of Bitcoin once again appeared in the pin market within the day. Once again, the price went up in the afternoon. After touching the position of 8787, it quickly retreated and returned to around 8600 again. . The suppression of the bears for several days has cast a thick layer of gloom on the minds of investors, and the bulls still need to wait for better opportunities if they want to defend Yunkai.
From the perspective of the trend, the intraday price rise seems to be rapid, but the volume energy has not kept up. At the same time, the price is under pressure at the 8800 line above. The price has not been attacked at all. In the short term, it is expected that it will become more and more difficult to organize a decent force to break through the upper resistance. On the 4-hour chart, the price rebounded after hitting the lower rail of the Bollinger Bands. The price quickly broke through the 5-day, 10-day, and 30-day moving averages and the middle rail suppression, and hit the previous key resistance near 8800. If it fails to break through, the price falls rapidly , the current price has returned to the downward channel of the Bollinger Bands again, and the short-term pressure is on the 10-day moving average. The bulls' upside hope in the market outlook author Yu Jixin believes that it should rely on the 5-day moving average to gradually rise to the chart, so the market outlook can first pay attention to the support of the 5-day moving average at 8610. Looking at the indicators in the attached picture, MACD keeps running below the 0 axis, and it is gradually becoming a golden cross. The RSI and Stoch hooks continue to move upward towards the 50 level.
On the hourly chart, the price fell rapidly after going up in the afternoon, closing a negative K line with a long upper shadow line. The K line closed positive in the previous cycle, and the price was able to return to the upward channel of the Bollinger Bands again. Currently, 5 The daily moving average crosses the middle rail and the 30-day moving average supports the price at 8630. Overall, prices are expected to remain volatile in the evening market outlook. In terms of operation, it is recommended to sell high and buy low within the range. The price is given at 8750 to consider entering an empty order, the stop loss is above 8800, and the take profit is at 8620. Look at 8700.
ETH rebounded after touching the 181 line today. At present, the price has entered into a low order again. There is resistance above the 186 line. The lowest point is a rebound near the support point of 181. After the completion of the consolidation stage, there may be opportunities to follow up with more orders again. Above 185, short-term shocks are used as the main trend reference, and 185 is still difficult to stabilize again as the previous resistance. At this stage, entry opportunities near the low level have been given. There is still a good upside space from the resistance of 186, which has been completed Friends with multiple orders can continue to hold orders. For today’s operation, it is recommended to go long at 182, and leave the market quickly after taking profit at 186.
