Facing the current volatile and sideways Bitcoin, how should the market outlook deal with it?
Since the Bitcoin network’s mining capacity is primarily located in China, the impact of cheap hydropower during monsoons keeps many miners’ operations sustainable. Additionally, the report found that capital accumulation, which drives miners to upgrade their equipment, also correlates with higher prices and higher hash rates after 4-6 months. Since the halving, the price of Bitcoin has been moving sideways. Faced with the current embarrassing position of Bitcoin, it can't go up or down, and it has been oscillating here and there, consuming people's patience. Because there is a wave of decline, I am afraid that after the plunge, it will drop to the market in the early 8 digits. It is rising a little, and I am afraid that the dealer will come out to pull the market. Now everyone should calm down and face this kind of market with a normal mentality.
7.17 BTC technical analysis
Bitcoin has been oscillating back and forth around 9200 in the white market yesterday, and the market began to fall at 3:00 pm. After refreshing the lowest point to 9047, it began to rebound slightly. The current market is stable around 9131. The daily line has closed a negative line. The current price is in the Bollinger Band position below the middle rail.
Bitcoin operation strategy:
Bitcoin operation strategy:
1.9220-9250 enter empty order, stop loss 9350, take profit 9100
2.9040 does not break the position, light storage enters the market to buy more orders, stop loss 8840, take profit 9250
ETH: Ethereum was relatively strong yesterday, and there was a 10-point waterfall directly, and it touched the position of 230 many times below, but it did not actually fall below, indicating that there is still relatively strong support at this point. From a four-hour perspective, the green kinetic energy of MACD is gradually shrinking, and there is a tendency to form a golden cross at the bottom. KDJ is in the oversold area and will rebound in the short term. As for the strength of the rebound, it depends on whether the price of 237 can break through. Today, you can enter multiple orders in batches at 232-231, stop loss at 228, and take profit at 238.
BCH: Prince Edward is currently below the middle rail of the Bollinger Bands. Judging from the 4-hour chart, MACD has formed a golden cross trend at the bottom. I think there is still room for a rebound in the short term, so we mainly focus on the short-term 226 Whether the position can be effectively broken, otherwise it will still be a weak and volatile trend. Below, focus on the support position of 220. Today's shock range is hovering within 220-226. Yesterday there was a wave of rapid decline in the market, so today's market is mainly based on shock recovery.
LINK: The biggest dark horse this year is undoubtedly, LINK has taken advantage of the trend of the DEFI ecology, from 0.4 US dollars at the beginning of 2019 to 8.3 US dollars now. The current price is not recommended to chase higher, I suggest to stop profit to keep profits, and now it is easy to catch up with the ceiling.
