Bitcoin market analysis and operation strategy on April 13
Today's information:
According to Cointelegraph on April 13, John Vaz, an economist and scholar at Monash University in Melbourne, said that the prospects for Bitcoin and cryptocurrencies depend on the government's response to the current economic crisis. John also emphasized the importance of wider adoption and acceptance of cryptocurrencies, likening Bitcoin's possible role as a monetary commodity against the backdrop of a deepening economic crisis to cigarettes in prison.
Market review:
Bitcoin did not fluctuate much in the white market yesterday, maintaining a oscillating operation between 6900-6780. Until 20 o'clock in the evening, the price of Bitcoin began to go up, and the price reached the highest position of 7179. Then the price went down again, and as of 7:30 a.m., the price of Bitcoin has run to around 7000.
Market analysis:
Market analysis:
On the daily chart, the price of Bitcoin closed out of Xiaoyang yesterday, breaking the previous suppression of the 5-day moving average and the 10-day moving average and returning to above the 7000 position. After briefly touching the position above 7100, it quickly retreated. However, the intersection of the 5-day moving average and the 10-day moving average near 6970 gave the price some support, and the pullback was not strong. Looking at the indicators in the attached picture, the MACD double-line is still running around 0 weeks. RSI is oscillating around the 50 level. Stoch dead fork.
On the 4-hour chart, the upward movement of the price last night broke the suppression of the position of the middle track of the Bollinger Bands, but the intraday retracement price went down again to test the support of the position of the middle track of the Bollinger Bands. In the follow-up, we can focus on the gains and losses of this position. If the price does not fall below this position, there is a very good chance that it will rise again after the shock gathers strength. Whether the upward space can be opened up again depends on whether the price can break through the suppression of the 7250-7300 first-line position. On the whole, the price trend of Bitcoin is still dominated by range shocks. During the day, you can focus on the gains and losses of the key support positions mentioned in the author's previous article.
Operating strategy:
1. When the price touches 7200, consider entering an empty order, stop loss above 7250, and take profit at 7000-6950;
3. If the price touches 6950 and does not break through, you can consider following up with multiple orders, stop loss at 6900, take profit at 7100-7150, and then look at 7250-7300;
The author Yu Jixin sent a message:
The author Yu Jixin sent a message:
