7.9 Market Analysis

Yesterday, Bitcoin and Ethereum both experienced a wash-out rhythm, with short selling switching back and forth and a large amplitude. The overall process was a wide-range tug-of-war. After a round of bottoming out at 54260 in the morning, it quickly rebounded to 58263, and then it rebounded to 54800 after being under pressure again. It is currently back to the 56600 line. Yesterday, there were also gains and losses in the process of long and short washing back and forth. The big cake received 3300 points and the bamboo shoot received 600 points. Under this rhythm of long and short washing back and forth, it is difficult for anyone to stand firm.

Returning to the market, we can basically see that from the trend of the daily line, the overall structure is still in a weak downward trend. Although there is a short-term rebound, the continuity is insufficient. The downward trend structure has not been affected, and the main structure is still in a bearish form. At present, the trend of pulling back and forth at a low level in the 4-hour chart cannot be continued. After the decline, it rebounded again, and there is still a certain continuity. Therefore, in the short-term rhythm, we can pay attention to the rebound of the market and participate in it with the idea of ​​​​stepping back and going long.

It is recommended to go long on Bitcoin at 56500-56000, and the target is 58000-58500.

It is recommended to go long on Ethereum at 3000-2870, and the target is 3090-3150. #BTC下跌分析 #德国政府转移比特币 #ETH