Bitcoin has formed a convergence structure that lasted for nearly 20 days. Following the previous report, the volatility of Bitcoin reached the lowest position in the past two weeks. Today, the volatility has risen slightly, and it may be time to choose a direction. Today is higher than yesterday The positions of Bitcoin Binance perpetual contracts and OKEx quarterly contracts have dropped by more than 200 million US dollars. It is more likely that large players will close their positions. You can pay attention to the positions below.

BTC/USDT review analysis

As shown in the figure, Bitcoin has reached the edge of a large-scale convergence structure that lasted for nearly 20 days. Its ATR (average true volatility) has increased compared with the lowest level yesterday, and it may usher in a direction choice, focusing on the position below the convergence structure. . The short-term support and pressure of Bitcoin are around 32,000 and 35,800 respectively, and the medium-term support and pressure focus on the 30,000 and 375,000 line.

ETH/USDT review analysis

As shown in the figure, although Ethereum broke through the triangle convergence structure and previous highs, it was in bad luck. It just ushered in the downward direction of Bitcoin and was brought down accordingly. However, the position of the breakthrough of the big convergence triangle in the figure constitutes a strong support area , Focus on the 1220-1250 range below, and the short-term pressure near the previous high of 1440 above. At present, the fundamentals of Ethereum are good. If Bitcoin gives a certain window period, it is hoped that it will continue to break new highs again.

DOT/USDT review analysis

As shown in the figure, Polkadot is a new mainstream. The excellent ecological fundamentals in the early stage have attracted a lot of funds from the market to help it take off. However, as Bitcoin fell, some of the profit-making funds were withdrawn. At present, it has stopped falling around 14.8 and there are funds again. Entering the market, this position constitutes a short-term support area, the lower part focuses on the support strength around 12.9 and 10.8, and the upper part constitutes short-term pressure at 18.3.

This article is for reference only and does not constitute any investment advice