QKL123 investment research: Bitcoin is at the end of convergence, and the mainstream rotation effect is weakening
Market overview:
Bitcoin hit a new high again in the early hours of yesterday, but it did not break through the previous high in a real sense; during the period when Bitcoin was oscillating above the 23,000 platform, the mainstream rotated one after another. From XRP, LTC to BCH, the effect of capital rotation gradually weakened. At the same time, the market When you reach the end of convergence, you need to be alert to risks. In addition, the range of the CME Bitcoin gap this week is 22920-23535, and the gap space is 615 US dollars, and there is a certain probability of covering.
BTC/USDT review analysis
As shown in the figure, the current fluctuation space of Bitcoin continues to narrow, reaching the end of the convergent wedge; although it hit a new high yesterday, it did not break through the previous high in a real sense, and did not even stand firm at 24,000. Next, focus on the breakthrough of Bitcoin’s convergent wedge Direction, if you stand firm at 24,000, it is possible to break through the previous high and accelerate the market; if it falls below the convergent wedge, focus on the short-term support line of 23,000 and the mid-term support near 22,300. If it stabilizes, you can enter the market to try more.
ETH/USDT review analysis
ETH/USDT review analysis
As shown in the figure, Ethereum is weaker than Bitcoin. The last investment research report said that the support of 636 has been tested many times, and the effectiveness of support has gradually decreased; it is moving towards the direction of focusing on the breakthrough of Bitcoin’s convergence structure. The short-term support below Ethereum is at 620. Nearby, focus on the 600 line.
As shown in the figure, BCH, as the last project in the mainstream rotation in this wave of market, has not a strong sustainable effect. Although it once broke through the previous high near 370, it was only a flash in the pan. The follow-up trend will refer to Bitcoin, and the focus below will be on 330 Nearby support strength, mid-term support is around 300.
This article is for reference only and does not constitute any investment advice
