Is the fall of Bitcoin an early warning of the Great Falls?
Just after the much-anticipated listing of Coinbase yesterday, the overall trend is still a bit of a roller coaster. Of course, after the first listing, the stock price rose sharply at the opening as expected. The opening price was US$381, and the initial market value has reached as high as US$99.6 billion. The previous reference price was US$250 per share, and then Coinbase quickly soared to US$429, and its market value once reached US$112 billion. But then it turned around and fell below the $38 billion opening price.
Next, let’s take a look at the market. According to the Ouyi OKEx market, first of all, judging from the hourly line, it has already reached a state of consolidation from a high of 62,000 US dollars to a line of 63,000 US dollars. And there was a decline last night, let's look at a specific decline. It can be seen that within 7 hours, it has dropped by 3.71 percentage points, which is a drop of 2372, which is close to 2400 points. For a period of time, the market is still in an air force state, occupying a top situation. It can be seen that there is a very large pin at $61,308, so except for the unpredictable situation of pinning, the whole market is completely consistent with the basic market that Chen Xin said in yesterday's article. Yesterday's market is very likely to test the high level of 65,000 US dollars, so we should reduce our positions appropriately within this high level.
Because Chen Xin also clearly stated in the article that the market is very likely to take the risk of a fall at night, then we can see that the market has indeed shown a drop at night. Then Chen Xin gave a support point around US$62,000 at that time. It can be seen that if there is no performance of a pin insertion, then the first-line listing of US$62,000 will not really be broken through in the real sense. That is to say, the Air Force still does not have a strong force to break through the short-term support defense of the US$62,000 as suggested by Chen Xin yesterday.
Then, according to what Chen Xin said, the market will be very difficult to break through 62,000 US dollars in the future. As for why, we can look at the performance of a specific indicator. We can first look at an indicator of the fast and slow line. The fast and slow line formed a dead fork after 4 o'clock in the afternoon and continued to go down to below a zero axis. The performance of the energy column is that the yellow energy column replaced the performance of a green energy column, and the red energy column also reached the highest position in half a month.
Then the red energy column also began to shrink gradually, and the control line has formed a crossing situation below the adjacent axis. So whether it is an obvious golden cross, we still need to pay attention to the market changes in the future market. Then look at the performance of rsi, we can see that since the 14th, it has maintained a performance of constant shocks and downwards from the overbought area. After the market failed to break through 65,000 US dollars yesterday, it has gone through a very thorough decline. .
For a period of time, it was very obvious that we had stepped on an oversold area, and after that, the recovery index of the market also returned to a wait-and-see range around 50. So at present, there is a very obvious upward performance again. Combining the changes of these two indicators, it is not difficult to see that the confidence of the bulls has taken a very obvious blow after the market has risen and fallen.
But at present, the current bulls have begun to find their place and try to overwhelm the Air Force, so we still maintain an overall bullish trend within the day. According to the above summary, the recent market is still affected by the listing of Coinbase, and its listing performance once also determined the performance of the follow-up market. If we just look at it, it is always a very normal performance for the market to pull back after a relatively short outbreak, so there is no need to panic too much.
The first-line position of 64,100 US dollars still needs to be tested many times by the market to step on it. At present, the bulls in the market have regained an upper hand. After the increase in the long trading volume in the evening, it is still very hopeful to occupy a line of 64,000 US dollars in the day to the early morning. At present, we still operate cautiously.
Bitcoin:
Bitcoin:
Operation suggestion:
Operation suggestion:
Step back on 62000-62500 to pick up more in batches, target at 63000-63500, break at 64500, and defend at 61500
Reminder: Only the public account (above) of this article is written by trader Chen Xin, and other advertisements at the end of the article and in the comment area have nothing to do with the author! ! Please be careful to distinguish between true and false, thank you for reading!
Reminder: Only the public account (above) of this article is written by trader Chen Xin, and other advertisements at the end of the article and in the comment area have nothing to do with the author! ! Please be careful to distinguish between true and false, thank you for reading!
