Market overview:
As mentioned in the previous report, pay attention to the covering effect of the gap position. Since the previous report, the largest adjustment of Bitcoin has been close to 14%, which has completely covered the gap of 57370-58755 mentioned in the previous report. According to the data analysis on the chain, a sum of more than 20,000 Bitcoins flowed into Gemini during this period, which has a great impact on the market. Selling pressure is the main reason for the first decline after a new high. Although this drop effectively fell below the previous high, it still maintained an upward trend since March. It is currently oscillating below the previous high and may continue to adjust.
BTC/USDT review analysis
Following the previous report, follow-up attention should be paid to the anchoring effect of the gap position 57370-58755, and beware of the risk of covering; the lower edge of the gap is just at the upper edge of the short-term demand zone to form a resonance zone, and this position has certain downward resistance. As shown in the figure, since the last report, Bitcoin has completely covered the gap. Although it stayed near the lower edge of the gap this week, it failed to stop its decline, which may be closely related to the selling pressure of the giant Gemini whale; this time The fall in the lower demand zone 53200-54200 stagnates and rebounds considerably, so the 53200 line constitutes short-term support. In addition, this decline has not broken the upward trend line since March, so maintain the view of the bullish pattern. The follow-up may continue to adjust, and pay attention to the maintenance of the upward trend line. If it falls below, there may be a further decline. Otherwise, look at the forward high of 58352.
ETH/USDT review analysis
As mentioned in the previous report, follow-up beware of the short-term downside risks brought about by the market’s gap-covering gap. As shown in the figure, since the last report, Ethereum has encountered resistance in the upper supply zone around 1940. At the same time, the market has sold off and fell, and Ethereum has also fallen, but the percentage of decline is not as large as that of Bitcoin. In the previous support line Around 1725, it obviously stopped falling and remained above the upward trend line of this month, and is currently in a short-term shock. Follow up to pay attention to the maintenance of the upward trend line and the support of the 1725 line. If it is effectively broken, it may drop to the lower demand zone 1513-1564, which constitutes a certain downward resistance.
DOT/USDT review analysis
As mentioned in the previous report, follow-up attention will be paid to the gap filling risk of the broader market, and at the same time, the short-term trend line, that is, the lower edge of the triangle. If effective support can be obtained, the target position will still be seen as high as before the breakthrough. Otherwise, continue to pay attention to the lower part near 32. As shown in the figure, since the previous report, Polkadot has been blocked by the previous high resistance level of 38.7, and then followed the decline of the broader market. However, it did not break expectations, and it just stopped falling around 32 as mentioned in the previous report. The current Polkadot trend has formed a rectangular shock range, and is subject to the anti-pressure line. Follow-up attention will be paid to the breakthrough of the upper and lower edges of the rectangular range.
This article is for reference only and does not constitute any investment advice
IOS
Android