After the Bitcoin pullback, it reversed and maintained a volatile trend. Have you caught the market?
Bitcoin pulled back as scheduled, with a minimum bottom of 9100, and then pulled back to 9300, still returning to the rising wedge for oscillation. At present, the reverse draw is around 9,500 US dollars, and the trend is basically oscillating within a reasonable range.
Judging from the daily line, the resistance above the rebound is still relatively large, and the amount of energy is not enough. Therefore, the height of the back draw may be limited. MACD is still running downwards, and the long-term deviation can be vented through this decline, and the performance when it is near the 0 axis.
From the perspective of the daily line, the upper pressure is at 9500, 9650 and 9800 US dollars. The specific position to which it can rebound has to be deduced through a smaller cycle. However, it will take time to get back to the high level again. In a short period of time, I want to stand on the $10,000 again, and there is little hope. Therefore, the high position needs to be lightened.
From the perspective of the hourly line, the price was quickly pulled up after falling, and began to rebound after testing the support. According to the 123 trading rule, two buying points were constructed. The upper pressure level is around 9500 and 9650 US dollars, which may be the high point of this small rebound.
In addition, the biggest pressure is at the position of the downward trend line, that is, the pressure at 9,800 US dollars. If the reverse package can be realized, the trend will return to the bulls, but it is unlikely to go back in a short time. It still takes time to consolidate the bottom, and it will be healthier to attack again.
The trend of ETH is also the same, and two buying points have also been formed. After the breakthrough, see if the vertical supply column can be tested. The upper pressure is 240 and 245 US dollars, while the bottom support is around 230. If the breakthrough is not successful, it will step back to accumulate strength .
This wave of ETH's callback just reached the upward trend line, and the subsequent pull-up is also very strong, indicating that funds are still optimistic. Therefore, the follow-up can be used as the second trend indicator besides Bitcoin.
On the whole, this wave of callbacks is within the normal range, there is no need to panic, it has not really broken, it is just a short-term adjustment. Judging from the general trend, it is still a bullish trend. However, the adjustment time for this wave is relatively short, and it is possible to continue to adjust in the follow-up. In terms of operation, short-term light storage operations are the main ones. If you have a heavy position, you can reduce your position during the rebound stage, otherwise you will be a little passive.
