Bitcoin keeps falling, beware of extreme market conditions
Today's information:
According to news on May 21, Iranian President Hassan Rouhani told officials of the Central Bank of Iran, the Ministry of Energy and the Ministry of Information and Communication Technology that they need to design a new crypto mining country while hosting a national economic strategy seminar at Iran’s Economic Coordination Headquarters. Strategy, including regulation and mining revenues.
Market review:
The author Yu Jixin has always been bearish on the price of Bitcoin after the price of Bitcoin has gone up to 10,000 points many times. After the price of Bitcoin went down from the 9800 position in the middle of the night before yesterday, the price of Bitcoin continued to decline until the early morning of this morning, and the lowest position was 8818. Down nearly 1000 points. At present, the price has rebounded. As of 7:35 a.m., the price of Bitcoin was running around 9100.
Market analysis:
Market analysis:
Looking at the 4-hour chart, after the continuous downturn of Bitcoin prices pierced the lower track of the Bollinger Bands, the opening of the Bollinger Bands was also opened, and the current price rebound touched near the lower track of the Bollinger Bands. The short-term moving averages are currently hooked downwards to suppress prices. Looking at the indicators in the attached figure, MACD goes down to below the 0 axis. Overall, the price of Bitcoin is still in a downward trend, and it is recommended to focus on high-level empty orders in intraday operations.
Operating strategy:
Operating strategy:
1. When the price touches the position of 9150, enter an empty order, stop loss at 9220, take profit at 9000, and break again at 8850;
3. The price breaks the 8800 position to chase the short, the stop loss is 70 points, and the take profit position is 8500;
The author Yu Jixin sent a message:
The author Yu Jixin sent a message:
