Prediction is correct, double top formation, can Bitcoin reach new highs again?
Bitcoin market analysis today:
After the 1,500-dollar waterfall last night, the market experienced a big liquidation. In the early morning, it started to lure more and rose again. It started to fall again this morning, and the range was also very large. This kind of repeated line drawing and high frequency made many contract transactions Funds were severely damaged.
From the perspective of technical analysis, we still only need to observe the support of the 5-day line (18630.1 US dollars). There is also an obvious 1-hour level 2 sell here, which is undergoing a volatile decline. Now it is the process of pulling back to the 0 axis. According to the theory, this place will still go down and oscillate. The best thing is that this place will directly break the lowest point of the waterfall last night. At that time, we will see whether it is divergent or not. If it diverges, we can enter the spot to buy bottoms.
One thing to note is that the trading volume of Bitcoin is constantly declining, the deviation between volume and price is obvious, and there are signs of heavy volume at the top. Here, currency lovers must pay attention to high risks and stand guard carefully!
Summary: In the short term, Bitcoin is still in a strong trend. Operationally, if it falls below the 5-day line, you can reduce your position. If you confirm that you are below the 5-day line, you can reduce your position. However, the middle line is still very good now, and the upward trend has not changed. Once the trend changes here, it will be the daily line + weekly line. Level resonance callback, that is, it will go down to 15,000 to 450 dollars and then go up again. As for the new high, it depends on the volume, so be careful to chase high and buy coins.
Ethereum market analysis today:
Ethereum is a flash crash caused by a 15-minute top divergence. After 2 sales in the morning, it continues to fall. Here, a 15-minute-level center has been built. The range is: (582.17 US dollars - 602.19 US dollars) Our main observation today 3 buy and sell on it. See if the market is making a 3-sell fall or a 3-buy rise and continues to break new highs. Ethereum is definitely the most suitable place to wait and see.
Suggestions for operation: Just observe the 5-day line ($576.83) at this point, and there is no problem at all with long orders and spot stocks. If it breaks, you will directly reduce your position, and if it falls below, you will confirm liquidation. In the short term, you can look at three transactions.
Three buys: After breaking through 602.19 US dollars, the retracement does not break through 602.19 US dollars.
Three sells: After falling below 582.17 US dollars, the rebound does not break through 582.17 US dollars.
In terms of operation, don’t blindly chase any currency. If the bull market really comes, the currency in your hand will rise sooner or later. What’s the rush?
