Bitcoin and Ethereum Market Analysis and Operation Suggestions
BTC intraday market analysis:
Yesterday, the market first rebounded and then fell. There was a weak rebound at the low point in the morning. Bitcoin’s market fell in the morning and broke through the middle track. The market has turned weak, so there will definitely not be a sharp rebound within the day. Bitcoin's lowest callback to the 53,500 line has not yet broken the new low of the recent sharp drop, and the short position has not yet fallen back in place. Today's market still maintains a high-altitude thinking. Follow Sina Weibo currency expert Wang Mengqi to get real-time market trend analysis. From a technical point of view, the middle rail of BOLL has broken down, and the 10-day moving average of MA5 shows a dead cross and heavy volume. The bears are strong, but the RSI is still at a strong level of 50, and the KDJ is close to 0 neutral, there is no large amount of short-term buying for the time being, and the bulls are still pouring in. The short-term slow decline is the best proof. Wang Mengqi in the currency circle: I personally suggest that we can continue to be bearish with 57,800 as a defense within the day, and pay attention to the 52,500 line for the downside, and then the 50,200 key support mark. Today’s highs during the day or night may continue to fall again, and the direction is still to be short-selling, which is basically in line with the expectation of double-top M without breaking new highs mentioned in the previous issue. For now, the trend has also turned empty, and for the time being There are no major low points, and any high point during the day today is still a short-selling opportunity. Today's daily line level needs to pay attention to the watershed pivot point 57300 line, and only by taking advantage of the trend can you make a profit.
4-hour level strategy (reference only)
58000 Short stop loss 58500 Take profit 56500 54500
53000 Long stop loss 52500 Take profit 53650 54800
ETHmarket analysis
Looking at the 4-hour K-line, the moving average is showing a downward trend, and the price has broken away from the downward channel and is under the lower track of the Bollinger Band. From the current technical point of view, there is less room for decline and more room for short-term rebound. In terms of operation, it is recommended to enter the market in batches.
ETH operation strategy
Multiple orders enter the market near 1680-1690, the target point is to see a break around 1700-1800 and continue to hold
[Risk Tips]: Don’t be impatient when playing coins, wait for the market to wait for the opportunity, the market changes quickly, spot and contract analysis are time-sensitive, strictly control the stop profit and stop loss
When investing in the currency circle, you must have a good attitude, and you must always maintain a stable attitude. Everyone needs to decide according to the specific market. No matter whether it is a bull market or a bear market, someone will always grasp it. Technology is the foundation of survival. It is better to teach people a fish People are fishing, and it is fundamental not to let go of what you are sure of. Thanks to the readers for their love and support for the article, I hope everyone has gained and gained insights! Regardless of whether the opinions and strategies of the article are consistent with everyone's opinions, everyone can discuss and learn together.
There are currently many opinions in the market that blame Powell's speech for the decline of Bitcoin last night. The price of the currency seems to have started to fall after Powell spoke for a while.
Powell’s original words about Bitcoin last night were: Cryptocurrency assets are highly volatile and speculative, and the current regulation of global stablecoins is not in place and cannot be used as a substitute for the US dollar. He emphasized that encrypted assets are more used for speculation than as a means of payment, and encrypted assets are more like gold than US dollars. The core of this passage lies in the last sentence, "Encrypted assets are used more for speculation than as a means of payment. Encrypted assets are more like gold than U.S. dollars." What is the view on bitcoin, instead of the dollar? Instead of sovereign currencies? As a global currency? Does Powell need to say this to meet market expectations?
Bitcoin has always been positioned as an investment or speculative asset. Comparing Bitcoin and gold together shows the current positioning of Bitcoin. The original intention of Satoshi Nakamoto to develop Bitcoin is indeed not to be affected by the monetary policies of central banks of various countries , as a global common currency positioning, but everyone's reaction a few years before Bitcoin came out has already shown that this is not the case. From a realistic point of view, using Bitcoin as a means of payment or a sovereign currency will only accelerate the decline of Bitcoin, and Powell, as a supporter of the United States and the US dollar, has a very clear position on this point. Instead, we should recognize what Powell said Bitcoin is a speculative product. Only in this way will the U.S. regulators regulate Bitcoin as a "commodity-like commodity" instead of a one-size-fits-all Bitcoin. As for speculative products or investment products, different people have different opinions. If we only talk about Bitcoin, it mainly depends on what kind of operation method you use. If you just bought it a long time ago and have been holding it for appreciation, then Bitcoin is an investment. product. If the contract with 100 times leverage is full every day, it is a very risky speculative product. In the past year, the situation of high-volume liquidation of Bitcoin has been staged from time to time. This is also an important reason why the outside world believes that Bitcoin is relatively risky. However, if you hold Bitcoin this year, the rate of return will exceed any investment product in the world. Contracts and high leverage are the main reasons why Bitcoin is so risky.
