Bitcoin consolidates sharply, 400 points range, with 11400 as the midline

Following the rise of Bitcoin in the first half of October, the current market has maintained a box-like shock, with a range of 11200-11600; with 11400 as the central axis, it fluctuates up and down. It can be seen from the hourly chart that each moving average system follows the middle of BOLL. The rail is moving forward, and the price of the middle rail is around 11400!

Bitcoin’s box consolidation in the past few days is very clear, and it is no problem to maintain a high-altitude low-multiple thinking in operation; with the step-up yesterday evening and this morning, many friends think that the market has turned bullish, and in the morning The news surfaced that $1,500 bulls intervened, and many friends began to buy more without thinking. However, in a wave of dips at noon, the lowest price was around 11188. In just half an hour, the total funds of the friends who broke their positions reached A huge amount of 88.65 million US dollars!

From the perspective of the daily line, after the 5 consecutive positive days starting on October 8, the market has been running upward along the upper track of the daily line BOLL. After peaking on the 13th and returning to the negative, the price of Bitcoin was suppressed by the MA5 daily moving average. , although a wave of rise in the morning briefly broke through the pressure of the moving average and continued to attack the upward track, but at noon, it still returned below the moving average; it can be clearly seen from the subsidiary indicators MACD and KDJ that the current big pie Still in the callback, bears dominate!

Judging from the 4-hour chart, the bitcoin market has been running in the upper and lower BOLL range during this period, but the first K-line this morning broke through the pressure on the upper track and then returned to the BOLL channel. The wave dipped, directly piercing the lower rail support, and almost touched the support level of the blue MA60 moving average below, but the dip did not stand, and a not short lower shadow line was collected. The current price has returned to the BOLL channel !

Comprehensive analysis, Yitian believes that with the 300-point drop at noon today, the current short-term indicators have pointed to short positions. Although the shock box still has not broken, the lower edge of the box will face challenges today!

Strategy 1: The big cake will step back and enter the market with multiple orders around 11150-11250, set the stop loss below 11050, and look at the 11400-11500 area for the target;

Strategy 2: The big pie rebounded near 11530 and entered the market with an empty order, the stop loss was set above 11650, and the target looked at the 11350-11250 area;