Bitcoin bulls adjust to welcome Christmas, Ethereum reverses and reverses
Bitcoin, in the running of the crazy bull market, experienced a two-day big correction, and fell nearly 2,200 points in two days. To be honest, the range is a bit large. Many people think that the impact of the sharp drop in European and American stock markets caused panic in the market. The reason for the sharp drop in the stock market is that the new crown epidemic has mutated in the UK. According to what the author said before, the greater the impact of the epidemic, it should be good for Bitcoin, but in fact the market has taken a small reversal. At the same time, there is also a reason that "Grayscale announced on Monday that its Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin Trust Fund, and Grayscale Digital Large Cap Fund are currently not accepting new investments." The release partly sparked falling sentiment for Bitcoin. After all, many retail investors in the currency circle follow the pace of Grayscale to dominate the market. Grayscale is like the weather vane of the currency market, but I think it is not necessary to rely too much on institutional news. After all, the power of institutions far exceeds that of retail investors. During the bloodbath.
In fact, GBTC repeatedly performed this operation in the fourth quarter of 2019. The author believes that a sharp slowdown in GBTC inflows may increase the probability of a Bitcoin price correction. The author believes that the grayscale fund has realized the ETF of digital currency in disguise, and the proportion of grayscale holdings will become larger and larger. With the gradual intervention of traditional financial funds, it will gradually control the pricing power of the cryptocurrency market. The impact of this round of Grayscale’s suspension of investment acceptance on the market is corrective rather than reversible, but the time period of the impact cannot be determined.
Bitcoin stabilized in the next day's white market. After the U.S. market broke through the US$23,000 mark strongly, the bulls shook it up until today's Asian market hit the US$24,000 mark again. At present, there is a slight drop under pressure, but the bulls Still going strong.
Looking at the daily line, a big positive line of Bitcoin directly engulfed the negative line of the previous trading day, making the momentum of short-term high adjustment turn upward again. BOLL is in an open state, and the upward space of BOLL extends to the area of 25,000 US dollars. The short-term MA5/MA10 continues to run upwards and provides support at 23,500 and 22,400 US dollars respectively. In the short-term, focus on the resistance of 24,000 US dollars. Once it breaks the short-term In the medium term, look directly at the $25,000 mark. The major technical indicators in the short-term period are moderately upward, and the MACD kinetic energy in the attached picture continues to increase. It is expected that the market will continue to maintain an upward trend.
In the four hours, the big pie stopped falling after a wave of pins down, implying that the underlying support is strong. The big pie is in the BOLL downward channel all the way up and tends to the upward channel. The BOLL is in a flat state, and the short-term is still running Among the highs and lows on December 20, MA5/MA10 continued to support the upward trend of the currency price. In the short term, focus on the resistance of BOLL's upper track at $24,200, and below focus on the support of BOLL's middle track at $23,400. The major technical indicators in the short-term period are easing, and the momentum of the MACD in the attached picture is shrinking. It is expected that the market will maintain a volatile upward trend. To sum up: the big pie in the early trading fell into an adjustment, and the overall trend is still on the high side. It has been emphasized several times that the short-term pullback is to gain momentum in the later period. As mentioned above, the cycle is uncertain. Secondly, there is another time node, which is Christmas Eve and Christmas this week. Beware of changing rhythms. Although it is bullish, it is not recommended to blindly chase more at this node, and you can rest assured . If you are uncertain about the interpretation of technical market and news, or you have a set list, you can discuss it with Mr. Tan. Subscribe to the official account; Currency Circle Retail Alliance.
Short-term upper resistance level: 24000/24200 Short-term lower support level: 23400/23200
BTC (Bitcoin) real-time operation suggestion: go long at 23350, stop loss at 23100, target around 23800;
ETH (Ethereum: Driven by the big pie, the market reversed and then reversed, and broke through the $600 mark for the second time. I thought it was the beginning of a callback, but I didn’t expect it to be empty. After a strong break through the $620 mark, it was converted in time. The trading idea tends to be bullish, sometimes the market is like this, and the wanton changes catch you off guard. Ethereum, which was agreed overnight, looked at the $635 area, and inadvertently found that the highest hit the $638 area in the morning, but the bulls failed to hold steady, and turned However, it fell below the $630 mark and tested the $620 mark again, which happens to be the middle track of the BOLL on the hourly line. Today’s white market focuses on the $620-632 range, and the operation maintains the main multi-supply and short-term thinking.
Short-term upper resistance level: 632/635 Short-term lower support level: 620/615
(Text/Talk about Yu Kai)
(Text/Talk about Yu Kai)
