BTC needs to adjust after the washout, and ETH has stabilized after falling
During this period of time, I was unwell, and I have not updated the article. I often stay up late and my body is too much to bear. I took a rest for a while. However, the currency circle has been surging recently, and the news has continued. The previous skyrocketing and the current plummeting, there is an obvious washout, not retail investors can bear it Yes, Ethereum has been rising all the way before, and then fell sluggishly, not at all technically, there is an obvious washout in this trend, but if you remember the points I warned you in the article before, you should be able to overcome this turmoil To survive, one is to follow the trend, and the other is to strictly stop profit and stop loss. The position should not be too large. Yesterday’s market direction is right, and there are good profits. Don’t always think about buying bottoms or tops, but after yesterday’s downturn A re-washing was carried out, large funds entered the market again, and Ethereum showed a strong rebound, which is equivalent to a kind of rescue. Yesterday’s trend is basically a disaster in the currency circle. Having said that, we should treat it with a normal heart at all times. , It is normal for those who made contracts yesterday to have losses and gains. If the mentality of the spot is not good, it is estimated that they have cut their flesh. The author thinks that it has not yet reached that point. The current market has stabilized and needs to be adjusted.
On the surface of the news, according to the data provided by the CryptoQuant analysis platform, in the past 24 hours, the inflow of stablecoins from multiple cryptocurrency exchanges has hit a record high, reaching a record high of 5.28 billion US dollars. According to the analysis of the article, this shows that the crypto whales bought Bitcoin again at a low price. Another evidence comes from Glassnode data. The giant whales transferred 19,639 BTC from the crypto exchange, worth about 791 million U.S. dollars.
Looking back on this round of Bitcoin crash, an obvious dividing point is the "betrayal" of Tesla CEO Musk. Since the beginning of this year, Musk has become a fan of cryptocurrencies, frequently touting cryptocurrencies such as Bitcoin and Dogecoin on social platforms, and bringing a lot of benefits: Tesla purchased more than 1.5 billion US dollars in Bitcoin and accepted Bitcoin payment; The market is booming, with Bitcoin reaching a peak of 648.43 million US dollars per coin, an increase of more than 70% from the beginning of the year; Dogecoin has increased by 260 times in half a year. However, on May 13, Musk suddenly "rebelled", announcing on Twitter that Tesla had suspended accepting Bitcoin as a payment method due to concerns about environmental issues caused by mining. As soon as the news came out, Bitcoin immediately ushered in a sharp drop, falling by more than 10,000 US dollars, a drop of nearly 15%. Before that, the popular Shiba Inu coin once plummeted by nearly 40%. The farce is not over. In the early morning of May 17, Musk hinted in a tweet that Tesla may have sold the remaining bitcoins it held, and then bitcoins plummeted by more than 10%, falling as low as $42,212.
There are relatively large risks in investing in currencies. At present, major associations have issued statements, please invest rationally, don’t enter the market blindly, and don’t always think about getting rich overnight, it’s better to be realistic. Here I just want to explain that investment is There are risks, and the investment market always follows the 80-20 rule. After all, only a small number of people make money, and high risks also mean high returns.
Next, analyze the market
When Ethereum was going up, Bitcoin hadn’t made much movement before. Even though the uptrend was normal compared to Ethereum, if it couldn’t go up, it would have to go down. I’ve always told you in my previous analysis that although Ethereum is relatively strong, but the strength of Bitcoin is not very strong, and the possibility of a callback in the later market is very high. There are also signs of this downward adjustment in the early stage. Musk’s remarks just ignited the fire and accelerated the decline of Bitcoin. From the initial 60,000 mark to the 30,000 mark, the entire price fell by half, which shows that the big funds are selling crazily, and then the market rebounded. It was also mentioned in the above news that at present, the big funds are buying bottom again at the bottom. Purely from a technical analysis, Bitcoin has shown signs of stopping its decline in the short-term, and the hourly line is in a low-level oscillating situation. After a wave of golden needles bottomed out on the 4-hour line, the market also has a rebound demand. As for the general direction, the market is still in a bearish trend. During the day, focus on the resistance at the position of 42,000. When the market touches this position for the first time, you can try to place an empty order. The target below should not be too large. Seeing around 41,000, the previous rise of Bitcoin was based on 39,500. Now it can Let us wait and see whether it will repeat itself. The following will focus on the support of the two positions of 38300 and 36500. You can choose the opportunity to place multiple orders.
The recent trend of Ethereum is not generally active. Whether it is the previous unilateral rise or yesterday’s unilateral fall, there is an obvious washout. The previous amplitude of 50 points was considered a big market. Now it seems that the ups and downs of hundreds of points Ups and downs are not suitable for entering the market to operate, and there is a risk of liquidation when entering. According to incomplete statistics yesterday, it is estimated that many people have suffered serious losses. According to the three points mentioned by the author, this situation will not happen. On the contrary, they should still Make a profit, follow the official account Tang Sizhe to get more analysis. From a technical point of view, after Ethereum has experienced continuous decline, it has collected a negative column with a long lower shadow line in the past two days, indicating that the lower support is still relatively strong , the 120-day moving average failed to be effectively broken after two attempts, and the Bollinger Bands at the daily line level have not completely reversed downward. The author predicts that this wave of trends will be a wash-up. The Bollinger Bands on the hourly line began to run flat, and the decline has eased. At present, the currency price has successfully broken above the middle track of the Bollinger Bands. Then you are expected to have a wave of rebound in the next market. Focus on the resistance of the lower 3030 first-line position. In the short term, pay attention to the bottom Under the support of the range of 2580-2600, on the whole, after yesterday's continuous downward trend, the short position has eased. As long as the current market does not fall below the support of the range of 2580-2600, the trend will rebound next. It is expected to test the 3000 mark again, everyone pay attention
