Bitcoin wants to stand firm at 9200? Impossible, each cycle will suppress short positions
A week has passed in a blink of an eye, and today is Monday again. There is actually nothing to analyze in the recent bitcoin market. Some people in the market are bullish and some are bearish, but the market is very firm and has been consolidated in the 9050-9250 range; everyone The desired big market has never appeared!
After yesterday's wave of downward touches the 9100 mark, it has been consolidating at a low level, closing at around the 9120 line; today's weekly line opened, and there was a wave of pull-ups in the morning, touching the 9200 mark for the first time. So far, the bitcoin market It has been consolidated around 9190!
Bitcoin wants to stand firm at 9200? Impossible, the suppression of each cycle will be short!
Judging from the current trend of Bitcoin, the wave of rise in the morning has changed many people's views. They think that if Bitcoin can stand at the 9200 mark, the market outlook must continue to be bullish; Teacher Yi Tian (aphz8705) also There is no lack of this kind of cognition, but combined with the K-line indicators of various major cycles of Bitcoin, the suppression at the top is too strong, and without the intervention of dealers to pull the market, short positions must appear!
Let's take a look at the indicators of each cycle:
Let’s first look at the weekly level. The market in recent weeks is not big, and the real part of the K-line form collected is not big. The green MA30 moving average and the BOLL middle rail cross below the Bitcoin market, forming a strong support below; the yellow MA5 It is entangled with the blue MA10 moving average, forming a consolidation area for the current Bitcoin market; the upper pressure focuses on the blue MA10 moving average at the price of 9253!
Let’s analyze it from the 3-day chart. It can be seen from the figure that the BOLL channel has been running in parallel for a long time, and the green MA30 moving average has gradually risen to form a support level below the Bitcoin market (9150); the yellow MA5 and MA10 above The moving averages have been glued together, forming the upper pressure level of the current market (9197)!
Finally, look at the 2-day chart. The BOLL channel has begun to close downwards. The market is running in the middle and lower rails of BOLL. The upper pressure is at the price of 9250 on the middle rail of BOLL. Currently, the bitcoin market is suppressed by the blue MA10 moving average at 9199. , The daytime market focuses on the 9200 mark!
Comprehensive analysis, the upper pressure level of Bitcoin: 9200, 9250, 9320; the lower support level: 9150, 9100, 9020.
