Bitcoin adjustment urgently needs to break through, Ethereum bull market Changhong looks at $1,500
Recently, a dazzling digital currency has emerged—Ethereum. With the recent adjustment of Bitcoin, Ethereum has taken advantage of the momentum and hit new highs one after another. In the last few trading days, other mainstream currencies have been adjusted under the adjustment of the big pie. Only Ethereum has led the rise, and its momentum has surpassed that of Bitcoin.
The main reason why Bitcoin can occupy a pivotal position in the cryptocurrency industry is its "digital gold" narrative, while Ethereum is currently the preferred platform/blockchain for smart contracts and decentralized applications. If Bitcoin is gold, then Ethereum is silver. If Bitcoin is the most worthwhile cryptocurrency to invest in, the number two must be Ethereum.
In the current environment, we have seen institutional capital, corporations, and wealth management platforms start to buy Bitcoin, and as a result, some retail investors have also started to invest in cryptocurrencies. However, while institutional capital is painstakingly educating and popularizing Bitcoin, profitable people are turning to Ethereum, including some smart contract platforms and token projects for building decentralized applications.
Recently, I saw a joke, "The bull market is really uncomfortable. It is more uncomfortable to watch others make money than to lose money. I really miss that simple bear market. It is so happy for everyone to lose money together." A few simple words can see the psychology of every investor so thoroughly. The "28th Law" in the financial market will always exist. Some people only see money-losing ones, but have never seen profitable ones. How else can you dare to ask your mentality? keep it up. People who make money are all the same, but people who lose money are different in their own way. Only when you understand the reasons can you understand the way to make money, and at least your mentality will be much better. Any transaction pays attention to methods and skills, rather than a blind operation. If you lose money in a bull market, you really need to summarize yourself. It's not too late to mend the deadlock!
Bitcoin (BTC) peaked at USD 41,950 and fell back, dropped to USD 28,842 and rebounded, and stabilized above USD 30,000. The overall trend maintained a weak adjustment. Looking at the daily line, Bitcoin continues to run in the downward channel, BOLL is in a flat state, and the moving average MA5/MA10 is running at a dead cross. The volatility of Bitcoin is suppressed by MA10 at $34,200. The key resistance is located at the middle rail of BOLL at At $35,800, only when the currency price effectively stabilizes above can it regain its upward momentum and usher in a wave of rebound momentum. If it continues to be under pressure, there is a risk of back-testing the currency price. Below, we will focus on the integer mark of 30,000 US dollars. Once it breaks down, it will increase the risk of falling back. The short-cycle KDJ is glued to run, and the downward momentum of the attached MACD has shrunk. It is expected that Bitcoin will continue to maintain a weak order.
On the four-hour basis, since Bitcoin broke through the mid-rail position of BOLL strongly, the overall trend remains in the upward channel, but the upward pressure is under adjustment as a whole. BOLL is in a flat state, and the moving average MA5/MA10 crosses the golden cross to provide support at 32,700/32,500 US dollars respectively. The upper part focuses on the suppression of BOLL's upper track at 33,800 US dollars. Once it breaks through, it will usher in a wave of rebound. The short-cycle KDJ technical indicators are moderately upward, and the attached MACD continues to increase in volume. It is expected that Bitcoin will continue to maintain a volatile upward trend.
To sum up: "Long-term shocks, there must be a break." Last week, Bitcoin broke down, and there are signs of stabilization. The overall market is still adjusted between 30,000-35,800 US dollars, but Mr. Tan is optimistic about this Phase adjustment breaks upward, and once there are signs of breaking the position, you can take advantage of the trend to chase more, but for the current market operation, Mr. Tan recommends low and long as the main, and high altitude as the supplement. 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: 34000/34500 Short-term lower support level: 32800/32500
Ethereum (ETH), rebounded from the bottom, hit a new high, and the bulls are far above. Every drop you think is not an excuse for you to go short, but a good opportunity for you to go long. The teacher emphasized too much about Ethereum. On the next day, Mr. Tan directly said that he saw the $1350 mark, and the target was reached as scheduled during the US market. After the ether storage rose and broke through the $1,400 mark in early trading today, the bulls pointed directly at the $1,500 mark, which is also close to our ultimate medium and long-term goal, and the profit of a few hundred points is safe. The general trend continues to be bullish, and the medium and long-term will continue to look at the $1,500 mark. Once it hits the $1,500 mark, the next target is the $1,800 mark.
Ethereum fluctuated and pulled up in the Asian market, and the European market was in a sideways adjustment near $1,420. On the hourly line, Ethereum is trading near the two major moving averages, and BOLL is shrinking. In the short term, focus on the suppression of BOLL's upper track at $1,480, and the lower support of BOLL's lower track at $1,390. The short-cycle KDJ technical indicators are moderately downward, and the downward momentum of the MACD in the attached picture is heavy. It is expected that the ether will be accompanied by the risk of a callback. Judging from today's trend, after the sharp rise of ether in the Asian market, the European market has a tendency to pull back but has not fallen. callback. Below, focus on the support at each stage of 1400/1380/1360. If it falls back, you can deploy more in batches and reduce positions in batches for profit. There is too much emphasis on spot goods. It is estimated that those who have followed Mr. Tan’s operations have already made a fortune. The momentum of Ethereum is good. Remember, there are many callbacks.
Short-term upper resistance level: 1450/1480 Short-term lower support level: 1400/1360
