Ou Yi OKEx investment research | Bitcoin "escape from birth", focusing on channel support
OKEx BTC/USDT Perpetual Contract:
OKEx BTC/USDT Perpetual Contract:
News: After falling to 1.469% on May 7, the U.S. bond yield closed positive for 4 consecutive trading days and returned to above 1.6% again. Short-term inflation concerns have increased. At the same time, the U.S. dollar index has also fallen back to the point area in mid-January and will be supported by technical factors. The above-mentioned factors will lead to tightening short-term funding expectations in the market, or reduce the aggressiveness of funding, resulting in tighter short-term funding in the capital market.
Secondary market: As shown in the figure, the price of Bitcoin once again had a false breakthrough after rising above 58,500 the day before yesterday. So far, there have been 5 false breakthroughs against 58,500 to varying degrees in the past half a month. From a morphological point of view, Bitcoin as a whole has been running in an upward channel recently. Every time it encounters the upper edge of the channel, it will fall back, and it will stop falling and rebound when it encounters the lower edge of the channel. At the same time, the 4-hour MACD indicator double-lined above the zero axis and moved below the zero axis.
Judging from various signs, although the short-to-medium-term trend of currency prices is still in an upward channel, the upward trend is obviously lacking in sustainability. At the same time, the MACD indicator shows that the momentum of bearish power is becoming more dominant. It is expected that there will still be no sharp rise in the short term. On the contrary, it may be easier to see a trend of rising and falling. Below we focus on the support at the lower edge of the channel line in the figure. If the position is broken, there is a high probability of continuing to decline sharply. Attention should be paid to risk prevention measures.
Support: 56200--55300--54000
OKEx ETH/USDT Perpetual Contract:
OKEx ETH/USDT Perpetual Contract:
Although ETH followed Bitcoin in a round of in-depth adjustments the day before yesterday, it has completely recovered its lost ground and hit a record high. The strong style is very obvious. Judging from the current trend structure, the rising pattern is still very intact, and the representative callback lows in the 1-hour chart all maintain an upward trend as a whole. However, a certain degree of top divergence has appeared on the MACD indicator, and the volume-price relationship also has a similar performance.
Since the probability of Bitcoin continuing to rise in the short term is less than that of falling, and ETH itself has a certain degree of shrinking upward momentum, it is necessary to pay attention to possible short-term callback risks. Pay attention to the first-line support of the previous high point 4175. If it does not break, the rising pattern will be intact. If it breaks, it will constitute a false upward breakthrough, which will hit the confidence of the bulls and lead to the continuation of the decline.
Support: 4265--4175--3550
Ouyi OKEx DOT spot (the official account of the marketing department does not publish the content of this currency)
Ouyi OKEx DOT spot (the official account of the marketing department does not publish the content of this currency)
After being "collapsed" by Bitcoin, DOT has recovered blood quickly. Now it has once again come to the previous intensive resistance zone and a long upper shadow line appears in the 4-hour chart, indicating that the upper selling pressure is still heavy. However, recovering the lost ground so quickly also shows that the funds are very active in the currency, and there is a strong willingness to do more, so we should still be optimistic about the market outlook in the general direction. For short-term fluctuations, first pay attention to the first-line support of 38, and any adjustments that do not break the sub-price are regarded as benign adjustments. The upper resistance focuses on the intensive trading area in the early stage, and it is still difficult to effectively break through in a short time.
Support: 39.40--38.00--36.00
Resistance: 41.70--44.00--46.00
