The price of Bitcoin rose in the short term, but it was not enough to turn things around
In the afternoon of the day, the price of Bitcoin once again experienced a wave of ups and downs. The price fell to 8368 in the short term and then rebounded strongly to touch 8585. However, this rebound is a routine with the recent bull counterattack, and the nature of attracting more is more. The price touched around 8600 and fell back in the upward direction. At present, the price keeps fluctuating around 8500, but the author Yu Jixin predicts that the possibility of further downward price in the market outlook is still relatively high, and the short-selling is strong.
On the daily chart, yesterday’s closing line finally ended with a cross star, and the stalemate between long and short is still continuing. Although the price went up slightly within the day, the trend of the Bollinger Bands still maintained downward suppression, and the moving average indicators also showed a downward suppression state, and the intraday price set a new low again, and the short suppression was strong, and the market outlook is still not optimistic. Looking at the indicators in the attached picture, the MACD has continuously lowered its volume after the dead fork, and the RSI is currently running below the 50 level, showing an upward posture. Stoch went up with a golden cross below the 20 horizontal line. Bitcoin's intraday market outlook is expected to remain in a range-bound operation, and the downside may be relatively large.
On the 4-hour chart, the previous upward attack of the price falsely broke the middle rail of the Bollinger Bands and then fell again. The price is currently running between the middle and lower rails of the Bollinger Bands. The Bollinger Bands are currently closing. Cooperate in the vicinity of 8480 to support the price. On the hourly chart, the price has returned to the Bollinger Bands channel, and the 5-day moving average maintains an upward posture and is about to meet the 60-day moving average at 8520. On the whole, the price of Bitcoin is expected to remain volatile in the market outlook. In terms of operation, it is recommended to maintain a strategy of shorting at high levels, supplemented by long positions at low levels. The upper part focuses on the suppression of the 8550-8600 position, and the lower part focuses on the support of the 8380-8350 position. Specific operation suggestions, the price is given to the 8550-8600 position to enter the empty order, and the stop loss is 8650. The stop profit position depends on the 8380-8350 position. The price is given to the 8400 position to consider light storage and enter the market for more orders, the stop loss is below 8350, and the take profit position is 8500.
After the trend of ETH has gone up following the big pie, the current 4-hour level has broken through the middle track of the Bollinger Band, and the price is suppressed by the 30-day moving average. The 5-day moving average currently maintains an upward posture. MACD is currently running below the 0 axis, and the trend is showing an upward posture. RSI and Stoch also maintain an upward posture and are currently running above the 50 level. On the hourly chart, after the previous upward attack, the price is currently constantly testing the position of the upper rail of the Bollinger Bands to suppress, and the 5-day moving average maintains an upward attack posture. On the whole, the price of ETH in the evening market outlook still has the possibility of further upward attack, but the price has not broken the key resistance above 185, and the strong position of the bears will still not change. Therefore, in the market outlook operation, it is recommended to sell high and buy low within the range, pay attention to the suppression at the 185 position at the top, and focus on the suppression at the 180-178 position at the bottom.
