BTC continues to be under pressure, first look at the rebound within the day, ETH bulls pre-strike
As the policy continues to suppress virtual currencies, the market has experienced greater turmoil. Bitcoin and Ethereum have been declining all the way. The holders above are also panicked, and they all began to sell. Bitcoin once returned above 60,000 and returned to around 30,000. Basically, it has shrunk significantly, which is why the author has not updated the article recently. Affected by the policy, the operation is not very stable, but there are basically replies to those who have inquiries. Back to the market, with the continuous introduction of bad news , Bitcoin continues to fall, but whether it will be used across the board, the author is skeptical. After all, there is such a large volume in the market, but this industry needs further regulation. Before the central bank’s digital currency is issued, the environment needs to be purified. Ethereum It is still optimistic by many people. According to the flow of funds, there are still a lot of funds entering the market, and the market has not yet reached the point of collapse that everyone said.
According to the analysis of the news, the digital asset management company CoinShares reported that in the 7 days to June 4, the net outflow of Bitcoin funds was 141 million US dollars, which is the highest single-week total on record. Investors turned to cryptocurrency funds tied to Ethereum, XRP, ADA, with inflows to the Ethereum fund totaling $33 million and XRP funds totaling $7 million, the largest since April, Inflows to ADA funds totaled $4.5 million and multi-asset product flows totaled $2.7 million. Digital asset funds saw $94 million in net outflows this week.
In addition, according to Morgan Creek co-founder Anthony Pompliano today, El Salvador has officially passed the proposal of "Bitcoin as a legal currency", and Bitcoin has officially become the legal currency of El Salvador. This undoubtedly has a certain boost to the market, and it is normal for the short-term market to have a certain increase.
Going back to the technical analysis, after Bitcoin has experienced a continuous downward trend, the decline has eased, but the big short position has not been completely broken, and the bottom has only failed to continue to break after many trials. The technical On the surface, a rebound is needed for repair. From the current daily perspective, the short position is still relatively strong. Next, 36000 will be a long-short conversion point. Before the market breaks through 36000, the market still has the risk of falling back. The latest resistance is at Around 34500, please pay attention, there is still a short trend in 4 hours, but the decline has eased. The focus above is on the resistance of the Bollinger Band middle rail around 34500. As for this wave of rebound is promoted by the hourly line, the K line successfully stops The Bollinger Bands are stable on the middle track line, and the market shows signs of continuing to rebound upwards. On the whole, after Bitcoin has experienced a continuous downward trend, the decline has eased, and there is a demand for rebound in the short term. We place the first target position for long orders. If we can successfully break through this resistance level, the market needs to go further up. In the intraday operation, we should first go long, and then observe the strength of the upper test before considering whether to place short orders. If you don’t know how to operate, you can pay attention to the public According to Tang Sizhe, sometimes the trend during this period cannot be operated purely from a technical perspective. Everyone should strictly control risks and take good profit and stop losses.
The trend of Ethereum is still relatively strong. Due to the suppression of policies, Ethereum is also declining all the way. It currently stops at around 2300, which is the support of the daily line at the position of the 120-day moving average. After experiencing a continuous downward trend, the decline has eased. The position below 2300 is an important support level. The market will rebound before it falls below this position. In the short term, the 4-hour line is still relatively short. The forest belt continues to open and run downward. In the short term, we need to pay attention to the resistance at 2515. On the hourly line, there are signs of a continued upward rebound. You can defend the 2440 line and place multiple orders above it. First see 2510 at the top. After breaking the position, you can continue hold.
The above suggestions are for reference only and do not constitute operational advice.
