6.27 market analysis: BTC roller coaster market, mainstream currency is lying on the gun again
As of 16:00 on June 27, 2019, Beijing time, the CSI100 index was at 1207.4 points, down 1.56% in 24 hours. Of the constituent coins, 15 rose and 85 fell.
Note: CSI100 is the "Shanghai Composite Index" in the CSI index series. The sample consists of the top 100 tokens in terms of size and liquidity, with a market capitalization coverage of 96%, reflecting the overall trend of the token market.
Note: CSI100 is the "Shanghai Composite Index" in the CSI index series. The sample consists of the top 100 tokens in terms of size and liquidity, with a market capitalization coverage of 96%, reflecting the overall trend of the token market.
Yesterday, Bond's point was:For short-term support, look at the 61.8% Fibonacci retracement line (12300). If you step back on this position, it will continue to fluctuate at a high level and gain momentum, targeting the weekly resistance level of 13500.
The first half of the script is the same as Bond expected - BTC first stepped back around 12400, and then went up to the 13500 weekly resistance level, which is also the 61.8% Fibonacci retracement line from the historical top to the bottom of 3150. But the second half was more dramatic. BTC accelerated its rise, once crossed the strong resistance level, and touched the 14,000 integer, detonating market confidence, creating a wave of false breakthroughs to lure bullish market, and then turning its head down. , the lowest pin to 11800. In this huge fluctuation, except for the relatively stable ETH, other mainstream currencies almost broke their positions and plummeted across the board.
After this wave of highs and lows, the short-term trend has become full of variables. As shown in the figure above, BTC dropped the 23.6% Fibonacci retracement line (12312) in the afternoon, leaving a long shadow on the 1-hour chart, indicating that this position has a certain degree of support (it is currently being tested for the second time) support area).
If BTC can close above the 38.2% Fibonacci retracement line (12629) today, it will continue to be bullish in the short term. If it closes below this line, it will be bearish in the short term, and it will fluctuate downward, stepping back on the support near 11400.
Trend strategy:
Trend strategy:
The current trend is bearish, and we will pay attention to whether it can close above 12629 today.
If this position is regained, continue to hold the currency to wait for the rise, and the target is 13500;
