7.3 Market analysis: BTC’s 4-digit “one-day tour”?
CSI100 index
As of 16:00 on July 3, 2019, Beijing time, the CSI100 index was at 1095.7 points, an increase of 11.0% in 24 hours. Of the constituent coins, 79 rose and 21 fell. The rebound of BTC led to a sharp rise in the index. At present, the 4-hour RSI is leaving the oversold area and running upwards. The 4-hour MACD is golden cross. The technical aspect shows that there is still room for upside in the short term.
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.
BTC
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.
secondary title
As of last night, BTC has been running in the 1-hour descending channel for 4 days. Bond's point of view is: observe whether it can break through the upper track of the descending channel (10350). If it cannot break through, it will continue to bottom out at 9500; if it breaks through effectively, it will see a rebound.
Regarding the recent weakening of BTC, Bond just expressed his attitude yesterday: because BTC is a high-risk asset, short-term fluctuations are huge. Even in a bull market, BTC often experiences a 40%+ retracement (14000×0.6=8400). However, in the long run, the process of retracement is also an opportunity to build positions in batches, because medium and long-term opportunities far outweigh risks, and the bottom position must be well held.
Trend strategy:
Recently, the market has been erratic, with frequent fluctuations of hundreds of dollars or even thousands of dollars. For those who go in the right direction, this is a kind of enjoyment; for those who go in the wrong direction, it is undoubtedly a kind of torture. When there is no definite opportunity, it is best to hold back and be patient. In the short term, you can use active positions to sell high and buy low. Do not use large positions to frequently chase ups and downs. While contributing handling fees to the exchange, you will also play with fewer chips in your hand.
Trend strategy:
Currently, BTC is still running along the 1-hour uptrend line. The next market is still full of variables. In the short term, you can pay attention to the following important points:
Long-short competition point: 61.8% Fibonacci retracement line (11450), this position is still relatively strong short selling pressure, if it can be effective, you can see 11900.
