Tang Sizhe: BTC pulls back and continues to look at the rebound, ETH bulls want to continue to exert force
The market has been going well in the past few days. During this period of time, I have summarized some of my operations. Before that, the market has seldom moved according to the technical aspects. The performance of Ethereum is relatively strong. No matter how it pulls back, the market always rebounds and new highs continue , the trend of obviously stepping back can be instantly pulled up by a big positive column to change direction. It is normal for this kind of market to appear to sweep orders. The trend in the recent trading days has been relatively stable. At least the previous trend of Ethereum has not happened. The bulls are still as strong as ever, indicating that Ethereum is becoming the second Bitcoin, and there are more and more institutions holding Ethereum. My previous analysis asked everyone to rely on the range of 2040-2060 to do more. OK, at present, it is expected to test the 2200 mark. After rising to the 2199 line in the morning, it has fallen back. According to the current recovery strength, the market is expected to continue to rise.
According to news analysis, Bitcoin has been struggling to break through the resistance level of $60,000 for nearly a month. Despite the stalemate, the Bitcoin futures market has never been more bullish. Bitcoin futures contracts expiring in June have traded above $65,000, and Bitcoin futures expiring in December hit $73,500. However, Bitcoin’s three-month contango hit a record 50%, pointing to market inefficiencies. According to Cointelegraph analysis, although the 50% base premium seems unreasonable, retail traders have no other means to take advantage of their positions.
According to Etherscan data, the average Gas price of Ethereum network transactions on April 10 was 98 Gwei, a new low since the beginning of February. It has also led to more active fluctuations in Ethereum recently.
Bitcoin has started a strong rebound in recent trading days. It has been fluctuating at the level of 58,000-59,000 before. Recently, it has begun to test the previous high around 61,000. Judging from the trend of the day, the market still has an upward trend. The previous trend It seems to be in a period of stagnation. In my previous article, I analyzed that Bitcoin will have a callback. Nearby, it finally stopped at 59800 and then the market began to fall back, which was consistent with the author's expectation of a high and a fall, but there were differences in points. Coupled with the fermentation of the two trading days on Saturday and Sunday, the bulls in the market gradually began to exert their strength. The short position has reversed, which also shows that there must be buying support in the market, and the pullback is not strong. Every time this kind of trend is a manifestation of the strength of the bulls, the current daily market needs to continue to rise. The previous high point was 61200 or It will not be the end, follow the public account Tang Sizhe to get more analysis, short-term analysis, the hourly line is still in a rebound situation, but if the bulls on the 4-hour line cannot show greater strength, the market will deviate and step back. The former author thinks that there will still be a wave of rebound. In the operation, first look at the rebound in the first day, and then look at the high point of 61200 at the top. , You need to wait for the market to stabilize before operating.
The trend of Ethereum is very strong. Since the market stepped back to the range of 2040-2060 mentioned by the author and gave everyone a chance to place long orders, the market has been going up all the way. After reaching the first target position of 2100 mentioned by the author, it will continue to rise Extend, continue to walk out of a unilateral, long investors must receive a lot of money, the current market is hovering at the first line of 2180, after a short step back, the author expects to hit the 2200 mark again, and there will be new highs after the new high, according to Judging from the recent trend, the bulls of Ethereum are gradually exerting their strength, and there is still room for growth in the general direction and in the short term. The only thing worth noting is that the momentum of the bulls on the 4-hour line has shrunk, so the author predicts that the market will continue to rebound in the next trend After a wave of pullbacks, you need to step back to make adjustments. In terms of operation, you can do more in the range of 2160-2180. The target is to look at 2210 first. After breaking the position, look at the range of 2230-2250. Next, don’t chase too much. Wait for the market to stabilize before doing a wave of backstepping
Every day I will express my opinion on the market, no matter right or wrong, this is my way of thinking, you can refer to it, if you are willing to read and think it is valuable, you can refer to it to operate, if you don’t want to see it, you can follow your own way of thinking, I These suggestions are for reference only. Due to the timeliness of the article, once the market changes, there is no way to update it in time. I can only say sorry for these, and you can search for them if necessary. Like to communicate with everyone
