Bitcoin price may have bottomed out, does that mean a turnaround is around the corner
【News】
【News】
According to John Bollinger, a market technician known for inventing the Bollinger Bands indicator, crypto prices have reached the “bottom of the cycle.” The legendary trader also noted that the crypto market setup “looks good.”
Late forecast: Aggressive investors can wait for the price to rebound to near the 154 pressure level and choose to enter the market with empty orders. If 154 is effectively broken through, they can enter the market with backhand empty orders. Steady investors can wait for the price to fall below the 144 first-line support again position, choose to enter the market with an empty order.
【Technical】
BTC Market Review: Yesterday’s opening price was slightly consolidated below 7100, and then fell violently, giving us the previous expected point of 6600, and there were signs of breaking 6600, and finally stopped falling above 6500 and stabilized. Stand firmly above the strong pressure level of the 7000 integer mark.
Today's analysis: From the current hourly k-line chart display analysis, the price is basically fluctuating in the range of 7300~7100, and there is no good entry point at present. If the price still cannot effectively break through the strong pressure of 7300 in the later period, radical investors can here Choose to enter the market with empty orders. On the contrary, if the price stands above 7300, investors can choose to enter the market with more orders. If the price falls below 7100 again, aggressive investors can choose to enter the market with empty orders.
Late forecast: If the price can rebound to 7600 in the later period and cannot be effectively broken through, aggressive investors choose to enter the market with empty orders. If they can stand above 7600, investors can choose to enter the market with long orders.
ETH market review: The price effectively fell below the 144 first-line support in early trading yesterday, and perfectly reached the expected stop point of the 132 first-line strong support, and then followed the trend of Bitcoin to pull up strongly, returning to above the 144 first-line, and then the price fluctuated upward. Today's analysis: Today's price fluctuates and consolidates in the range of 149~144. Because the price is always above the middle track of the Bollinger Band, the short-term is still dominated by long orders. Several important points that need to be paid attention to today are 153.5, 149, 144, 139. Aggressive investors can choose to sell high and buy low in this range. Steady investors can wait for the price to step back on 144 again, and enter the market with more orders without breaking this support level.
Late forecast: Aggressive investors can wait for the price to rebound to near the 154 pressure level and choose to enter the market with empty orders. If 154 is effectively broken through, they can enter the market with backhand empty orders. Steady investors can wait for the price to fall below the 144 first-line support again position, choose to enter the market with an empty order.
EOS market review: Yesterday’s trend was a volatile decline. Compared with Bitcoin, the decline was not very large. The price stopped falling and stabilized at the 2.33 line. At the end of the midday session, it showed a head-shoulders arc state, and then the bullish force, the price rose rapidly , and effectively broke through the 2.50 strong pressure level, oscillating upwards, and tested the 2.60 pressure level.
Today's analysis: Today's opening price is below 2.60. After the shock, it stepped back on the 2.5 first-line support level, and then the bulls continued to make efforts above the middle rail of the Bollinger Band and effectively broke through the 2.60 first-line pressure level. The current chart shows that the bulls are in a strong trend and have broken through the triangle To sort out the upper pressure level, steady investors can wait for the price to step back to the 2.56 first-line pressure level and choose to enter the market with long orders. Aggressive investors can wait for the price to rebound to around the 2.70 first-line pressure level and choose to enter the market with short orders. On the contrary, if 2.70 is strongly broken through, Wait for the back step to not break through 2.70, and choose to enter the market with multiple orders. Several important points to pay attention to today: 2.63, 2.60, 2.51.
Late forecast: If the price falls below the 2.50 line again in the later period, aggressive investors can choose to take advantage of the trend and enter the market with an empty order, with a target of 2.35. If the price stands above 2.50, aggressive investors can choose to enter the market with more orders, with a target of 2.80.
Late forecast: If the price falls below the 2.50 line again in the later period, aggressive investors can choose to take advantage of the trend and enter the market with an empty order, with a target of 2.35. If the price stands above 2.50, aggressive investors can choose to enter the market with more orders, with a target of 2.80.
