Tang Sizhe: BTC will continue to watch the callback within the day, and focus on 2400 below ETH
The market in the past two days still hasn’t gone out of the space mentioned by the author, how much it has risen and how much it has fallen. Under this situation, we must avoid chasing ups and downs. Yesterday, Ethereum first rebounded and went directly above 2450, and then continued to rebound after a wave of callbacks. , At night, I tested the 2445 line again, and then began to decline, and the lowest reached the 2315 line. Continue to rebound, the long-short game is still relatively strong. Compared with Ethereum, the trend of Bitcoin is still relatively weak. After a small rebound, it will continue to fall. The current market needs to continue to decline.
On the news side, according to a new report published by Bloomberg, the decline in commodity prices and U.S. Treasury yields may continue due to the persistent effect of deflation, which may be difficult for those who see Bitcoin as a hedge against inflation. Investors in cryptocurrencies as a tool for currency devaluation dealt a blow. This can also be regarded as one of the most real factors for the recent ups and downs of Bitcoin.
Bitcoin’s dominance has dropped significantly since early April. Bitcoin, which has fallen nearly 10% since April 1, now accounts for 51% of the market, up from more than 70% at the start of 2021. "Traders are looking elsewhere," while ethereum rose 3.2 percent to trade above $2,400. Looking at the chart of Ethereum/Bitcoin, the ratio is currently rising, which means that traders are selling Bitcoin for Ether, which is also consistent with the author's previous analysis, and the current cost of holding Bitcoin is relatively high , Compared with Bitcoin, the price of Ethereum is still at a low level, and it is still a currency that many institutions are competing to hold.
Back to the technical analysis, the recent trend of Bitcoin is still relatively weak. Although there was a rebound after the previous big negative column went down, the strength was not strong. The short trend has always occupied an absolute advantage. The strength of each rebound is not strong. The market continues to decline. The author does not predict that the space below will be opened unexpectedly. The daily line has shown a relatively obvious short trend. Short-term analysis and 4-hour online view show that the market has been consolidating at a low level for a period of time It did not show an effective rebound strength. The Bollinger Bands gradually opened and fell, and the market needs to continue to decline. The support below has also broken. After the fall, the rebound of Bitcoin is limited, and the market needs to continue to decline. In addition, the recent purchase of Bitcoin has declined on the news. Near 52600, if you don’t know how to operate, you can follow the official account Tang Sizhe to get analysis. Bitcoin, which has always been the big brother, has been in a downturn recently, and the short trend is still relatively strong.
Compared with the big pie, the trend of Ethereum is still relatively strong. The recent sharp rise and fall has become the norm. Yesterday, the market went up relatively strongly, and suddenly there was a wave of backstepping, which fell directly from the 2445 line to the 2315 line. It was an obvious wash, but the subsequent rebound was also very powerful, indicating that the bulls are still relatively strong, and there are also a large number of buyers who continue to hold Ethereum. Looking back at the intraday trend, after a wave of rebound, the market rebounded again, and Bitcoin fell. Ethereum, but Ethereum obviously does not move down, and the daily line still shows a clear bullish trend, and it can rebound quickly every time it pulls back. For the strategy, the main strategy of stepping up and going long is still the main strategy of Ethereum. This idea has tasted the sweetness. In the short-term analysis, the current price on the 4-hour line is still in the bullish space, and there is still a rebound above. The position market will have room to continue to step back, and it will directly start to rebound if it does not fall below.
Recently, the market is going well every day. Only by maintaining a normal mind can we be invincible, and strictly control the profit and loss in the operation. This is also a common topic that the author tells everyone. If we can fully grasp the market trend, then risk control has become a skill we must master. We must first do a good job in risk control and then consider how to make money.
