Sweeping back and forth between long and short, BTC and ETH need to adjust after the surge
Is this kind of market exciting? Yesterday’s article analysis also said that Bitcoin’s climb was all due to its own strength, and the result was a wave of waterfall-like fallbacks, but has the market really reversed? At least from the current point of view, it is still not easy to judge; the trend Although the upper daily line closed down the next day, it was completed in the form of a long and downward negative K-line. Although it once gave up all the gains made in the previous two trading days, after the daily line closed, it finally gave up on Sunday. The increase is basically the same below the two entities of K on the day; the key to the long-short conversion depending on the trend lies in today's trend performance. If the daily line continues to fall, then the price is expected to really usher in a round of downward adjustment next. Once the drop is formed, it will at least reach the 26,000 line, so pay attention to the next trend in the days.
Looking back at the trend of the next day, the price of the next day mainly relied on the resistance of 33600 to launch a sharp correction. The lowest intraday hit 27777. After bottoming out, it ushered in a wave of recovery in the evening, and rebounded to recover above 32000 in the early morning, but the price fell under pressure again within the day and failed Effectively stand above 32000, the short-term hourly line continued to close down, and also fell below the support rebound level of 30800 in the early morning. The hourly line has a tendency to continue to fall, especially after breaking the support, it will only further promote the decline speed, and the short-term support below Pay attention to the 29400 line. This wave of decline in the day is expected to test this position. The short-term is mainly empty, and the target below is around 29400. More analysis strategies can be obtained by subscribing to Gongzhonghao Feng Chuhao.
Support level: 29400 Resistance level: 32100-32800
ETH: Ethereum showed a short-term trend in sync with Bitcoin. The next day, it retraced sharply after hitting the highest point of 1160. It bottomed out in the evening and rebounded. It broke through to above 1100 again in the morning. The continuous callback trend started again, and the short-term price also fell below the 1,000 mark; in terms of the trend, the bulls of Ethereum began to behave unstable after this strong surge. After all, the previous rise was too fierce, and the whole process was done in one go, so It is also normal for such a large adjustment to occur at present. At present, we only need to wait for this wave of adjustment to stabilize. After stabilization, as long as there is no continuous overcast on the daily line to hit the bulls, then the short-term bullish thinking remains unchanged; in the short term, we mainly focus on the current 980 For the first-line support situation, if this position falls within the day, we will look at 955, and 955 will be our entry point for long orders in the day. In the short term, we will continue to see the callback, step back below 955, and look at 1020-1050 for the target.
Support level: 955 resistance level 1050
