The range of compound start from 13970,which include a few forms:
Weekly level :Bull channel (Primary principle)
Daily level:Bear channel, Bear triangle, Head shoulder, M form
Major fundamental events involved in the compound:Chinese all in blockchain
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2019-8-21 The head shoulder formed
2019-8-26 Complete the first step back of the head shoulder neckline
2019-9-06 Complete the second step back of the head shoulder neckline
2019-9-24 Breakthrough the bear triangle
2019-10-24 Decline to weekly support
Those above forms are all technical analysis and subsequent trends. The operation can be obtained to this wave, and at the same time, open multiple bull positions in the support position of the weekly line.
However, this multi bull position is only a band operation rebound. According to the coincidence of the four bearish patterns, after the price falls below 7200, the theoretical slip position is in the range of 4400-5000.
Before 10-24, technical analysis can make money in this range.
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10-25, President Xi delivered an important speech for the blockchain
The bitcoin price rapidly increases, but it slipped below 9500 at end.
At the first-time bitcoin price rise to 9000, which the bear channel was broken.
9500-8000 formed a shock zone, which need wait for trend determination
The following are reference factors:
1.The price will not decline under 8000
2.Breakthrough the 9500 resistance-level
Weekly level :Bull channel (Primary principle)
Daily level:Bear channel, Bear triangle, Head shoulder, M form
Major fundamental events involved in the compound:Chinese all in blockchain
————————————————————————————————————————————————————————————————
2019-8-21 The head shoulder formed
2019-8-26 Complete the first step back of the head shoulder neckline
2019-9-06 Complete the second step back of the head shoulder neckline
2019-9-24 Breakthrough the bear triangle
2019-10-24 Decline to weekly support
Those above forms are all technical analysis and subsequent trends. The operation can be obtained to this wave, and at the same time, open multiple bull positions in the support position of the weekly line.
However, this multi bull position is only a band operation rebound. According to the coincidence of the four bearish patterns, after the price falls below 7200, the theoretical slip position is in the range of 4400-5000.
Before 10-24, technical analysis can make money in this range.
————————————————————————————————————————————————————————————————
10-25, President Xi delivered an important speech for the blockchain
The bitcoin price rapidly increases, but it slipped below 9500 at end.
At the first-time bitcoin price rise to 9000, which the bear channel was broken.
9500-8000 formed a shock zone, which need wait for trend determination
The following are reference factors:
1.The price will not decline under 8000
2.Breakthrough the 9500 resistance-level