Bitcoin's daily line fluctuated and went down significantly, and mainstream currencies temporarily stood above the support

Bitcoin has been under intense selling pressure over the past 24 hours, marking an extension that first occurred when it fell below $9,000 earlier this month — a previous support level that BTC bulls have been eagerly defending, the latest such drop The trend has led to a plateau in retail interest in Bitcoin, as data around deposits and inflows to exchanges suggest that investors currently have little interest in the cryptocurrency, facing price volatility amid a market-wide sell-off; Despite the recent dip, it’s worth noting that BTC is still trading well above the 30-day low of $7,300 set in late October, before a surge that sent its price surging to a high of $10,600. In the short term, the lower $8,000 area is indeed a strong support level that will strengthen BTC’s price action in the hours and days ahead.

Bitcoin: After falling below the key support of 8800, Bitcoin is still showing a weak and volatile downward trend. Although there is no waterfall decline, it is in a clear downward trend from the daily trend. The daily high and low points They are constantly moving down; in the previous article, the author emphasized that once Bitcoin falls below the 8800 support, the only hope for the bulls to rebound will be shattered. After this position, you can no longer look at the idea of ​​rebounding around this position. On the contrary, after an effective break, the market will start to break down. Therefore, in the next trend, it is recommended to be short and short.

In the short term, the continuity of the short position is not strong, and the decline process is intermittent, but it is an indisputable fact that the overall price has moved downward. The short-term position will continue to extend downward, and the short-term downward target focuses on the 8,000 mark; the four-hour Bitcoin is in a volatile downward trend, and after the rebound, it is under pressure and falls back to a new low. The suppression point is under pressure and falls. In four hours, we need to be vigilant against the outbreak of short positions at any time; the short-term hourly line will start to fluctuate in a range, but the overall short position will be suppressed. At the top of the day, we should pay attention to the first-line resistance of 8520. In terms of operation, it is recommended to short this position. 8620 above is defensive, and below Target 8300.

Ethereum: Compared with the obvious downward trend of Bitcoin’s daily line, Ethereum as a whole still maintains a range of shocks. Although it briefly fell below the 179 mark last week, it did not form a continuation, so the break is just a false break and does not constitute Breaking the condition, and rebounded for two consecutive trading days after the price dropped to the 178 line, and returned to the top of 183 in the short term, which further proves the oscillating trend of the daily line. .

In the short term, Ethereum rebounded after bottoming out at 177.6 last week and then fell back under pressure at 186.5. The four-hour short-term structure of the K-line high point is moving down, so the short-term is actually still suppressed. The four-hour Bollinger Bands shrink, and the K-line is short-term Approaching the middle track line, if the price falls below this position in four hours, it will inevitably continue to fall in the short term. The short term below focuses on the support of 183;

Litecoin: After a short-term decline, it dropped to 56.3 last week and rebounded. Structurally, Litecoin also failed to effectively fall below the support of the 57 mark. Continuous decline, although it rebounded after testing 56.3 and the price is still stable above 57, but the short-term trend has obviously changed from weak to strong, and Litecoin fell back within days. It can be seen that the rebound at the end of last week may be the result of continuous decline Technical correction, Litecoin still has the possibility of testing the support of 57 on the daily line. Once it effectively falls below this position, Litecoin is expected to form a downward trend.

Note: This article was originally created by Feng Chuhao, please do not plagiarize, if it is reproduced, please indicate the author; the suggestion is for reference only, and the operation risk is borne by oneself!

Market investment is often about cultivating the mind before making money. How can one survive in this cruel market without a good attitude? Everyone comes here with the purpose of making money, but how many people can stand out from it? Of course, no matter how good the mentality is, it needs to be supported by profits, and the two complement each other. Mentality determines success or failure, and it is choice that determines profitability.

Note: This article was originally created by Feng Chuhao, please do not plagiarize, if it is reproduced, please indicate the author; the suggestion is for reference only, and the operation risk is borne by oneself!