Analysis of the market price of Bitcoin at noon on June 9

This morning, BTC failed to rush up to $9,900 for a short time and then quickly retreated to around $9,500. The currency price fluctuated violently in just one hour, showing the intensity of the game between the long and short sides. The ratio of long-short positions in OKEx hourly contracts continues to fall below 1.1 and there is a probability of continuing to test 1.0. The hourly level of interest also has a short-term sudden increase accompanied by an increase in trading volume. The main funds continue to make various forms to lure Short and lure long operations to attract retail investors to follow up, so as to absorb retail investors' chips, investors should respond with short positions in the near future.

Market analysis:

The short-term volatility of BTC has intensified, but it has not yet gone out of the range-bound trend. The market has been above $9,600 since it suddenly rose from the low point ($9,400) yesterday morning. At the hourly line level, BTC regained its position on the MA30 and 60 moving averages, and pulled up again this morning, standing on $9,800. Rather than saying that the bulls control the rhythm of the market, it is better to say that because of the low willingness and frequency of retail investors to trade, the market is mainly controlled by market makers, and the probability of a sudden rise and fall increases. In this case, the price of Bitcoin It is difficult to accurately judge the trend and direction. Therefore, the main operation is to be cautious. It is okay to play with a small position, but it is unnecessary to take a heavy position.

Continue to pay attention to the range pressure (9800-10000 US dollars) and range support (9400-9500 US dollars) within the day. If the position is not broken, the market volatility may continue.