BTC Price Bottoms Up, Bulls Are Resilient
The intraday white market trend of Bitcoin price as a whole maintained in the range of 7000-7200. In the evening, the price broke through the 7000 position, and the price fell to the 6849 position for a short time. But the bulls did not give the shorts a chance to take advantage of the victory, and the price subsequently rebounded strongly. The bulls once again regained the key position of 7000 points.
On the 4-hour chart, the price moves around the middle rail of the Bollinger Bands during the day as a whole. After the rebound in the evening, the closing line at 20:00 is also a small sun with a long lower shadow. This wave of counterattack by the bulls can be said to be relatively strong. At present, the price has broken through the 7200 position and is still going up, so the market outlook can focus on the 7380-7400 position. If the position has been suppressed, then the bulls will win a phased victory, which will be a big boost to market confidence. The difficulty for subsequent bulls to go to the chart again will be greatly reduced.
On the hourly chart, the price is currently launching an offensive towards the upper track of the Bollinger Bands, and the Bollinger Bands are also currently being opened. The 5-day moving average hooked up, and the MACD golden cross went up. In the short term, the price still has the possibility of further upward movement. In the market outlook, you can focus on suppressing the 7380-7400 position. If the price breaks through this position strongly, you can follow up with more orders, and the target is at the 7600-7800 position. If the price still fails to break through this line, you can consider placing an empty order, stop loss at 7450, target at 7200, and break at 7000.
The trend of Ethereum in the evening also showed a wave of bottoming out and rebounding. The current price has fallen after touching the 150 position. However, on the hourly chart, the MACD also maintains the upward posture of the golden cross, and the price still retains the ability to rise again. In the future, we can focus on suppressing the 150-153 position. If the price breaks through the 153 position strongly, the price will be further given to the 158 position. It will be a high probability event. In terms of operation, you can follow up with long orders. If the price is blocked again at 150, you can consider placing short orders, stop loss at 153, and target at 145.
