The news is frequently stimulating and lures more to wash the market. Be alert to the short-term reversal that may occur in this position

Market review:

At 21:00 last night, Hainan’s policy was once again favorable and instantly surged more than 500 points, breaking through the resistance levels of 7300 and 7500 in a row. After approaching the 7800 supply zone, it retreated when it was blocked, and closed at 7500 in an hour. After a short-term shock, at 05:00 on the 5th Re-intensify and sell down, close the lower shadow line after touching the low of 7100 before touching, the current price is 7212, and the market fluctuates within a narrow range (reference price: Bitmex)

Fundamentals:

Fundamentals:

Combined with the innovation forum led by the regular army during this period, and the phenomenon of GJ’s suppression of violations of laws and regulations, the purpose of the domestic experiment and exploration of blockchain and digital asset transactions has become very clear. The long-term head project is optimistic, but I personally think that the probability of halving after the next year is not high, but there may be a small rebound in the halving market, and you can wait for the exhaustion of short positions to increase positions at important support levels.

Technical aspect:

Technical aspect:

Looking at the 4-hour level, BTC is obviously under the pressure of the downward trend line. The news stimulated FAKEY to quickly fall back below the trend line after a false breakthrough. At the same time, the bulls did not continue to push forward. The head and shoulders bottom 7100-7200 is dawdling around, and it is expected to continue to maintain a downward trend today.

The most critical position at the 1-hour level is 7100-7200, which can be called the long-short watershed. After the price broke through 11.27, the price stepped back on this area for 3 consecutive times and got effective support and then went out of a wave of rebound. Now it is the fourth time Touched, I talked to you in the article before, generally in the digital currency market, it is relatively rare for a support resistance level to be used more than 4 times in a row (because the order is repeatedly consumed)

At the same time, we can see that while repeatedly testing the support, the low point is constantly making new lows (the blue circle in the figure), which often means the exhaustion of the bulls. At the same time, the rapid decline after this wave of rising and touching the trend line is precisely the unhealthy bulls Therefore, from the morphological point of view, the expectation is bearish.

In terms of indicators, the opening of the moving average is downward, and the short position of the channel is downward, confirming the short position in the trend. At the same time, the indicator does not show the strength of the bulls. Based on the above, the trend is still bearish. The thinking is mainly to sell short on rallies. The key to the market outlook depends on Can the neckline at the bottom of the head and shoulders be broken by heavy volume (7100-7200), and if it falls below, it will establish a short position. The first target is 6800, and the second target is 6500. Otherwise, a small position can be used to establish a long position. The target is 7800, the key Support 7100-7200, key resistance 7400

ETH: 4H is a volatile trend, and the volume back and forth cannot bring effective breakthroughs. The main idea is to sell high and buy low. The key pressure is 149, and the key support is 145, 143

EOS: decline turns to shock, 2.6-2.73 mainly sells high and buys low

BCH: Divergent shocks, mainly short selling, key pressure 212.9, key support 206, 203

LTC: Ascending channel, you can do more along the lower edge of the channel, the key pressure is 46.06, and the key support is 44.7

XRP: high altitude, key pressure 0.22, key support 0.213

ETC: There is no sign of bulls involved, the rebound is short, the key pressure is 3.81

Platform currency: the overall is in an upward channel, relatively resistant to falling, you can intervene in some light positions

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