I have arrived at the hotel. I won't joke with you guys anymore. Let's take a look at the situation of #BTC.
Old fans should remember the yellow line in the picture. The 65,700 position has been used for 2 weeks. This is the position of the midline of the weekly Bollinger Band, which can also be used as a technical support.
If this position falls below, the price will run to the lower track of the weekly line, and it will also bring certain pressure to the daily support below.
At the same time, before this position is not broken, it can also be regarded as a short-term effective support and a concentrated game point.
Yesterday, I expected a callback of BTC 70,000, but the amplitude of this callback has actually exceeded my expectations. I didn't need to brag about it. I had expected it a long time ago. My expectation was only a callback at the hourly level, and it has obviously broken now.
Of course, the reasons are complicated. I thought it would be calm on Monday, but I didn't expect such a large fluctuation. It was quite unexpected.
From the selling pressure after the US government's currency transfer incident in the early morning, careful friends should remember the futures market mentioned in last night's article. Last week, due to the expectation of Trump's weekend speech, when the futures delivery volume should have been lower on Friday, a large number of long futures appeared. After the weekend speech, the futures market is bound to sell off this week.
The selling pressure in the futures market does bring great pressure to the short-term BTC price. Fortunately, there will be intensive macro data after this week. If it follows the current market expectations, BTC will still rise, but before that, pay attention to whether the key support is tested.
I didn't sleep all night, so I took a break.
