Market analysis: Does the downturn of Bitcoin yesterday indicate that the market change has begun?
Does the downturn of Bitcoin yesterday indicate that the market change has begun?
A few days ago, the bitcoin market has been in a complete triangle area. It was expected that the market would continue for one to two days before it began to change. However, it began to fall at 2:30 pm yesterday, starting to fall from the consolidation price of 9200. In the afternoon At 6 o'clock, it reached the lowest line of 9047 during the day; then the market began to cover the gap, and it is currently consolidating around 9120!
Yesterday’s wave of decline directly broke through the lower edge of the triangle finishing area. In the market at the end of yesterday, although the market rebounded, it has not returned to the triangle finishing area. It is still in the downward channel. The upper pressure area focuses on 9150 -9180; If the bitcoin market rebounds during the day cannot break through here, then the market outlook will continue to open a downward mode!
Let's analyze the daily market of BTC (BTC/USDT):
Let’s first look at the K-line chart at the daily level. At present, the BOLL channel runs forward in parallel, and the moving average systems begin to converge at the middle rail of the BOLL, suppressing the current Bitcoin market; The currency market runs from the middle and upper track area of BOLL directly through the middle track and comes to the middle and lower track area of BOLL; the three lines of the KDJ indicator below diverge downward, and the energy indicator MACD fast and slow lines are still in a bonded state, but the energy of the bulls has begun to turn to Short, the red energy column is beginning to increase in volume; comprehensive analysis, Mr. Yitian (aphz8705) believes that the bitcoin market is consolidating around 9130 during the day, and the daytime market will first look at the rebound. The upper part focuses on the resistance level of the 9150-9180 range. If it cannot be strong Break through and stand firm, and return to the triangle finishing area, then Bitcoin is expected to continue to decline at the end of today, testing the support level of the 9000 mark!
Yitian said [BTC/USDT operation suggestions]
Yitian said [BTC/USDT operation suggestions]
2. Bitcoin goes down to the 9050-8950 area. It is recommended to enter the market with a long order, stop loss at 8800, and target 9100-9200;
2. Bitcoin goes down to the 9050-8950 area. It is recommended to enter the market with a long order, stop loss at 8800, and target 9100-9200;
(The market changes in real time, and there is a delay in the review of the post. The content of the article is for reference only and should not be used as a basis for making orders)
Yi Tian said that in a responsible, sincere and serious manner, he carefully wrote each analysis article, with distinctive features, no exaggeration, and no ambiguity.
The information and data in this content come from publicly available information, and strive to be accurate and reliable, but do not make any guarantees for the accuracy and completeness of the information. The opinions are only personal and limited to exchange and learning. All content does not constitute any investment advice!
