Bitcoin remains volatile, mainstream currencies fluctuate, and the box will continue
After this wave of rise, Bitcoin started to fluctuate again. On the contrary, the mainstream currency has changed, but the sentiment of chasing the rise is not high. The market is generally deserted and the transaction volume is not large, which belongs to the correction stage.
Today, the volume is shrinking again. Generally, this kind of volume energy will appear, and there will often be a change in the market. From the perspective of the moving average, MA7 crosses MA20 and MA30, and the market is still dominated by bears. However, recently, the moving averages have repeatedly crossed, and trend indicators often send false signals in this volatile market.
The extreme shrinkage of energy shows that the price fluctuates at a high level. It is recommended that you do not chase the rise, and the downside risk is still relatively large. It is safest to wait for the market to establish a direction before operating, and you have to rest when it is time to rest.
From the point of view of indicators, MACD is basically oscillating around the 0 axis, and is in a state of dead cross; the price is below the middle track of the Bollinger Band, and the trend is relatively weak.
From the perspective of the hourly line, the price has formed a small oscillating triangle, and it will enter a large wedge when it goes up. The upper pressure is at 9,750 US dollars; while the lower support is around 9,250. You can do short-term operations according to the box.
For ETH, it basically maintains a range of shocks. The approximate range is 230-240 US dollars, and the larger range is 225-245. You can simply make a band. Look at the Fibonacci line. 235 is the position of the center, which is also 50%. support. Therefore, you can receive orders at low positions, sell directly at high positions, and trade in ranges.
Today, LTC, BCh, and EOS have experienced slight changes, but they are not in a high mood to follow the rise. You can focus on it to see if they can continue to rise and surpass the previous highs.
Take BCH as an example, the pressure is very obvious, if it can go up, it is expected to cover the vertical supply column, if not, it may hit a new low. Therefore, the key is to look at the direction of Bitcoin.
On the whole, the market maintains a range-bound trend, and we can focus on mainstream currencies, and hot spots may shift. My personal view is bearish, so don't chase the rise, and mainly take low orders. The upside space above is not big overall, and there is no need to use money to do things that are not directly proportional to the profit-loss ratio.
