As expected, the high volatility after the market
The pancake continues to rise strongly. In addition to being driven by the sentiment of retail investors in the circle, it is also gradually becoming lively outside the circle. After many years, YTV 2 once again reported that the price of Bitcoin reached $17,534, the highest level since December 2017. In addition to positive reports on the price and increase, it also affirmed Bitcoin's current network construction, development environment and ecology. Consistent with our opinion, TV Y also concluded that this round of bull market is driven by institutional funds, which is fundamentally different from the bull market driven by retail funds in 2017.
Yesterday, the intraday market fluctuated greatly. After a short-term decline in the evening after rising by a thousand points in the white market and a drop of a thousand points in the noon, it picked up again in the evening. There is a short-term oscillating trend within the day, but judging from the daily line, the currency price has not actually fallen much. The daily line still continues to close positively, and the general trend of the market is still mainly rising. Failed to break through the previous low, today's white market operation is recommended to focus on low and long.
It was quite obvious that the big pie plunged yesterday afternoon, but the rebound was stronger, and it directly recovered the lost ground of 18,000, and it took a very short time. Judging from the changes in the funding rate of mainstream currencies, before the plunge, they were basically crazy to about 0.1%, and even reached 0.2% after the plunge. After the plunge, they all fell back. This wave of market is still a bursting action initiated by the main force. The short-term behavior directed at the contract market will naturally not affect the trend, and the big pie will continue to rise. If you hold the spot, you can even think that you want to chase it, but you need to set a reasonable profit target.
Strategy suggestion: Do long in batches around 17650-17600, take profit target 17850-18000, look at 18000+ again if you break the position, and recommend stop loss at 17500.
