Market Review: Bitcoin dropped to $8,060 last night, which also led to a decline of the mainstream cryptocurrencies collectively. At present, the market price is $8,140. From the 4-hour chart, the downward trend is continuous and the sentiment is full of pessimistic.
At present, the trend is rebounding, but still under the strong pressure of the short side, unable to break through the resistance level. From the 4 hours MA chart, the Kline is under MA30, MA10, MA5 the resistance level, and there is no obvious rebound since falling.
From the four-hour chart, it can be seen that there are six consecutive recessions.
At present, it has been taken to the lower level of the Bollinger band, and the various indicators are also in an oversold area. MACD did not go out of the gold fork as expected.
If the price can stand above on a$8,100 support, you can hold it, which will lead a small rebound in the short term. but be mindful that there is a downward trend in the long run. so $7,800 I believe will be the bottom this week.
Tips:
DON'T LONG/BUY NO MATTER THE SPOT OR FUTURES
short: $8,200-$8,250
take profit: $8,000-$7,850
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At present, the trend is rebounding, but still under the strong pressure of the short side, unable to break through the resistance level. From the 4 hours MA chart, the Kline is under MA30, MA10, MA5 the resistance level, and there is no obvious rebound since falling.
From the four-hour chart, it can be seen that there are six consecutive recessions.
At present, it has been taken to the lower level of the Bollinger band, and the various indicators are also in an oversold area. MACD did not go out of the gold fork as expected.
If the price can stand above on a$8,100 support, you can hold it, which will lead a small rebound in the short term. but be mindful that there is a downward trend in the long run. so $7,800 I believe will be the bottom this week.
Tips:
DON'T LONG/BUY NO MATTER THE SPOT OR FUTURES
short: $8,200-$8,250
take profit: $8,000-$7,850
Subscribe to receive daily analytics for crypto