BTC shorts are making another effort, can the 8000 position be held?
The price trend of Bitcoin continued to decline during the day, and the short trend continued, and the rebound in the morning did not continue. However, the author Yu Jixin also predicted the downward trend within the day in the morning article, and the currency lovers who follow the author are also prepared for the intraday decline. At present, the price keeps going down and frequently tests the support of the 8100 position below. The author believes that the fall of the 8100 position in the evening market outlook will be a high probability time. The bulls and the bears will compete fiercely at the 8000 position, because once this position is lost, it is expected that the price will return to the area before the surge on October 25 within a very short period of time.
Looking at the 4-hour chart, the continuous negative decline in the price during the day shows the strength of the bears. The trend of the Bollinger Bands also maintains a downward trend. The price is currently supported by the lower track of the Bollinger Bands, and the price is expected to remain at this position in the short term. Stuck for a while. All moving average indicators are showing a downward volume posture, and the 5-day moving average is currently running at 8156 to suppress prices. Looking at the indicators in the attached picture, MACD continues to go deeper after the dead fork below the 0 axis. RSI and Stoch are currently running below the 20 level and there are signs of further downward extension. In the evening market outlook, it is still recommended to short at high positions. The price is 8200 to enter the short position, the stop loss is 8250, the target is 8100, the break is 8060, and the break is 8000 again.
Looking at the 4-hour chart of ETH, the bulls have been suppressed by the 6-year negative situation and are retreating steadily. The price rebounded in the morning and stood at the 178 position but failed to hold on. Then it will be very clear that the price will go down again in the market outlook. In the operation of the evening market outlook, it is recommended that the high is mainly empty orders, the upper part should pay attention to the suppression of the 178-180 position, and the lower part should focus on the support of the 175-170 position.
BCH fell by 6.63% within the day, a large decline, and there is still a possibility of further decline. The price is currently hovering around 240, which is also the lower track of the Bollinger Band on the hourly chart. On the 4-hour chart, the continuous negative decline has created the current strong pattern of short positions. In the operation of the market outlook in the evening, the author suggests that you can first pay attention to the gains and losses at the 240 position. If the price falls below the 240 position, you can follow up the short position and see to 235 position, if the price remains stable above 240, then you can wait for the price to rebound and touch the upper 245-250 position before placing an empty order.
