Bitcoin's short-term upside is blocked, when will the turbulence end?
BTC market analysis:
Bitcoin's intraday market continued its upward trend in the morning. The price broke slightly and then went up. The current high touched near 55500, and the situation was under pressure. The situation has entered a high consolidation. The overall market sentiment is sluggish. The overall long and short sides have taken over and the shock range is still in place. Constantly compress. It is expected that the shock pattern will continue for a period of time. The range focuses on the position of 55500-545000. Breaking the position can grasp a wave of short-term gains.
Looking at the short-term hourly chart, the Bollinger Band is still opening upwards. Although the short-term upward trend of the price is blocked, the market remains in the upper middle track area, and the support moves up slowly. If it closes at 8 o’clock in the evening, the price stabilizes at 54500. , It is expected that the market outlook will continue the upward trend in the future, and I hope you will prepare in advance.
BTC operation strategy:
- Make short position when the price goes near 55300, stop loss: 55530, target profit: 54800-54650
- If it breaks through the 54500, Make long position, stop loss: 54200, and target profit at 55000-55200
ETH market analysis:
Although Ethereum rose to near the 1720 position, it was under pressure and retreated. The subsequent market was blocked and entered a high level consolidation. However, the price failed to fall below the 1680 line after several retracements. At present, it is also out of a slight rebound. The trend is again approaching around 1700, and the lower support is slow. Move up, and the market is showing signs of bottoming up, the intraday trend is also biased to the upside, so it is recommended to do more in operation, and focus on the 1680 line for short-term support.
Looking at the short-term hourly chart, the price has gone out of a slight continuous positive, and the bullish sentiment has heated up. At present, the price is also operating in the area above the five-day and ten-day moving average, but the overall range has not been broken. There is still suppression on the top, and the market is still under pressure. It is not recommended that all coin lovers blindly chase the rise, and should be stable or call back to do more.
ETH operation strategy:
- Make short position when the price rebounds 1720, stop-losses: 1730, target profit: 1695
- If it breaks through the 1680, Make long position, stop loss: 1665, and target profit at 1705-1715
The analysis is time-sensitive, and the posting is always delayed, so please take the real-time market as the standard. Re-emphasize, do a good job in risk control, no matter how well you judge the future market, you must control your stop loss and target profit!