OKEx Investment Research: 60-day moving average breaks down, 8550 becomes the last line of defense for bulls
BTC/USDT Perpetual Contract
The nature of each level: daily line - consolidation, 4 hours - consolidation, 1 hour - down
The screenshot is from the 4-hour chart of the OKEX BTC/USDT perpetual contract: For the market, there are two perspectives, one is the objective trend status and the coping strategies formulated according to the objective trend, and the other is the subjective prediction based on experience. Actual trading is mainly based on coping strategies under objective trends. Subjective forecasting is more of a prospect or entertainment for future development. It cannot be used directly as a trading strategy. The main purpose is to prepare psychologically for potential risks and opportunities in advance .
BTC/USDT Perpetual Contract
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The nature of each level: daily line - consolidation, 4 hours - consolidation, 1 hour - down
The screenshot is from the 4-hour chart of the OKEX BTC/USDT perpetual contract: For the market, there are two perspectives, one is the objective trend status and the coping strategies formulated according to the objective trend, and the other is the subjective prediction based on experience. Actual trading is mainly based on coping strategies under objective trends. Subjective forecasting is more of a prospect or entertainment for future development. It cannot be used directly as a trading strategy. The main purpose is to prepare psychologically for potential risks and opportunities in advance .
Since the currency price fell below 9550, the short-term trend has turned into a bearish pattern again, and the latest short-term strength and weakness dividing line is at the 9250 line. It is suggested that the rise before 9250 is clearly broken is only viewed as a short-term rebound. Since the rebound is viewed as a potential space is not large, then in trading, it is forbidden to chase the rise when it is close to 9250.
resistance and support
At present, there is a phenomenon of bottom deviation in the 1-hour level trend structure of the currency price. This phenomenon was also highlighted in the group in the early trading. This is the main factor leading to the current rebound of the currency price. Of course, the deviation from the bottom is the appearance, and the internal reason is that the current active selling power in the market has shrunk, and short-term "bottom-hunting" funds have launched an attack while short positions are weak. However, we have already said above that we should be cautious about the current rebound before 9250 breaks through clearly, and don't become very optimistic as soon as we see the rise.
Resistance: 9100--9250--9500
ETH/USDT Perpetual Contract
The nature of each level: daily line - consolidation, 4 hours - consolidation, 1 hour - down
Support: 8900--8600--8100
ETH/USDT Perpetual Contract
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The nature of each level: daily line - consolidation, 4 hours - consolidation, 1 hour - down
We gave a risk warning in the evening review that day. Once it falls below 240, it proves that the short-term trend will weaken. It is also very timely. Down.
resistance and support
At present, the currency price has stopped falling near the mid-term key support 217 that we have been emphasizing (220 in the previous quarterly contract). At the same time, because the 60-day moving average is near this price, there are double supports. It is reasonable to see a rebound in this area. However, it is recommended not to have too high expectations for the rebound space. For the upper resistance, first pay attention to the 225 line. If it is obviously stagnant here, it means that the real strength of the bulls is too weak, and you can consider preparing empty orders at any time. If you pass the 225 line, focus on the 233 line. This is the key resistance of the short-term trend, or it can be regarded as the short-term strength and weakness dividing line. It is best to treat the rise before the price breaks through the short-term rebound. Don't be too aggressive.
Resistance: 225--233--240
EOS/USDT Perpetual Contract
The nature of each level: daily line - down, 4 hours - down, 1 hour - down
Support: 217--205--197
EOS/USDT Perpetual Contract
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The nature of each level: daily line - down, 4 hours - down, 1 hour - down
We often mentioned a thought in the past evening reviews: when the market as a whole is in a bullish pattern, don’t look at EOS, and mainly go long on BTC and ETH, which are relatively strong in themselves, and when the market starts to weaken, you can Come and take care of EOS more, come here to find short-selling opportunities, which will increase the success rate of transactions.
resistance and support
As shown in the figure, the highest price on Wednesday basically fell back after hitting the 2.61 resistance, which can be described as a textbook-like resistance level. After falling back to the important support of 2.4, there was a short-term rebound. This all shows that it is effective for us to find these key positions in advance, because they all play an important role time and time again, and provide high success rate trading opportunities again and again.
At present, on the one hand, the currency price is seriously oversold in the short term, and there is a need for a rebound. On the other hand, BTC and others are also rebounding, and EOS continues to follow. Although it seems that the rebound is strong now, it is closer to the 2.4 resistance (the support level turns into a resistance level), so don't have high expectations for the rebound space in the short term. You can pay attention to the 2.4-2.46 area. If there is obvious stagflation in the area, it may be a good opportunity to open short again.
Subjective expectations (for entertainment only): It is estimated that the currency price will rebound and test the 2.4 resistance level, then stagflate and fall back, and the probability of a new low in the short term is small. This paragraph is not intended as a trading strategy reference.
