Can the intervention of institutions break the rumors of continuous decline this month?
Hello everyone, I am Ziyu. I have always believed that choice is more important than hard work. A good instructor and a good technical team should not only bring profits to customers, but also be responsible to customers. Individual investors, facing the market on their own, are prone to be confused by the authorities and caught off guard when encountering big market trends. It will be easy to handle in operation.
【News】
【News】
The digital currency trading platform launched by Singapore Star Z Bank will officially provide trading services for 4 types of tokens including BTC and 4 types of legal currency including G coins next week, and the Singapore Exchange will participate in the shares.
This is a membership-only trading platform for institutional investors and certified investors, which will certainly diversify institutional investment within a certain range. Not only that, but also the offshore RM currency can legally enter the trading market through G currency compliance, which is good news.
【Market review】
【Market review】
The overall price fluctuated upward yesterday, the daily line closed positive and the price effectively stood above the MA5 daily moving average and the MA30 daily moving average, and the continuous negative k-line pattern was blocked. Although the indicator MACD in the attached picture is still running downwards with a dead fork, it is obvious that the strength is insufficient and there is no continuity. From the perspective of the overall market trend, it has already fallen into a large range of shocks, and this trend may be maintained in December, so everyone should pay attention to controlling risks when operating.
The short-cycle hourly chart continues to be bullish. The early morning rise did not continue in the morning but was stepped back and repaired. Then we will continue to be bullish in the European market. The current low of 18360 may also become an effective support point for the daily line.
【Market analysis】
Looking at the daily chart, yesterday's price ended with a positive K, and the market broke through the middle track of the Bollinger Bands and stabilized above the MA5 moving average. The current intraday trend continues yesterday’s gains, and the price has broken through the suppression of the 10-day and 20-day moving averages, completely breaking through the resistance position of 18,500. If it can stabilize above the MA10 moving average and break through the 19,000-line within the day, the upward trend is expected to continue further, and the overall bulls will start to take over Excellent, intraday operations can follow the trend.
Looking at the 4-hour chart, the price rebounded after hitting the 17571 position the day before yesterday, and formed a double-bottom pattern around 17570. This position is currently approaching the pressure level of 18550. The short-term market will officially reverse when it breaks through this line. In the past two days, the price has continued to rise, and Yang K continued to rise after breaking the position of the middle rail of the Bollinger Band. The current price stands above the 60-day moving average. The MA5 moving average crosses the MA10, MA20, and MA30 moving averages to support the price above 18550, and is currently running around 18800. On the whole, the price of Bitcoin is expected to pull back and then go up in the day. At the top, we need to pay attention to the suppression of the 19,000 position. Below, focus on the 18350 position support.
【Markets】
【Markets】
Bitcoin: The day before yesterday, Bitcoin had broken a bit, and it went up again from yesterday to this morning! This is because the good news from many aspects has pulled the market back from the crisis, and the current price has returned to above the 30-day moving average. Combining the shape of each time period and the news, the market has a higher probability of continuing to rebound. After the daily line closes, it will continue to stabilize above the 30-day moving average, and a re-impact above 19,000 is just around the corner.
Ethereum: The trend is linked to the pie.
