QKL123 Investment Research: The long-short game has reached the psychological threshold, and the market outlook may converge again

In the early morning of yesterday, Bitcoin accelerated to rise, reaching around 39,700. OKEx’s quarterly contract positions began to gradually decline, which was suspected to be caused by large-scale short-selling. , the bulls are also simultaneously taking profits at the 40,000 mark, which is a dangerous signal for the market. The sentiment has reached a freezing point, and an "inverted V" market may occur; at this time, the Binance spot market has increased the distribution scale. But it is only a flash in the pan, the market has fallen sharply, and the market outlook may converge again, and the trend within the structure is disorderly. It is recommended to wait for the market to choose a direction.

BTC/USDT review analysis

As shown in the figure, Bitcoin successfully "refueled" in the small-level demand zone drawn in the previous report, and began to accelerate its upward path. Although the market turnover is not particularly large recently, the selling orders before the 40,000 mark are relatively exhausted, and there is a phenomenon of shrinking and rising. At the same time, the large-scale transactions and rising prices in the GBTC market are a short-term direction indicator for Bitcoin on the market . When Bitcoin reaches the psychological level of 40,000, both long and short choose to close positions to take profit or stop loss. This is not a good signal for the market bulls. After the two sell-offs, the price rises rapidly, and the market may form a convergent structure again; the top 40,000 is still a Strong pressure level, short-term focus on whether the 39,000 line can be effectively broken through, the lower low near 36,200 constitutes short-term support, and medium-term focus on around 34,300.

ETH/USDT review analysis

ETH/USDT review analysis

As shown in the figure, Ethereum mentioned in the previous report that it is at the end of the convergence structure, and it is about to choose a direction, and then it breaks through and breaks out a space of nearly 170 US dollars. In the early hours of yesterday morning, Ethereum chose to break through the middle track of the acceleration channel before Bitcoin. At the same time, the selling orders in the Binance spot area also accumulated a large number of orders, but then it was smashed down with Bitcoin, and the decline was greater than that of Bitcoin. Stop falling and form a support level here. In the short term, the upper edge of the triangle converges at 1115 to form a short-term support, and the top 1220 and the previous high form a short-term pressure level.

As shown in the figure, UNI mentioned in the previous report that the changes in the channel structure are relatively large and unpredictable, and high leverage is not recommended. From the figure, it can be seen that UNI's accelerated rise in the channel meets a retracement of up to 20%. Even 5 times leverage will be blown out within a short period of time after entering the market at a high level. Killed along with Bitcoin in the morning, and stopped falling until the 5.65 support level mentioned in the previous report, and now it has accelerated back into the channel. In the short term, pay attention to the 6.55 pressure level and 5.4 support situation. If it does not fall below the channel, it will remain bullish and focus on the big pie Follow-up direction, only focus on UNI is easy to be killed by mistake.

This article is for reference only and does not constitute any investment advice