News:
1. The Bitcoin wallet balance of Coinbase Pro exchange decreased by more than 15,000 BTC this week, and institutional shipments were obvious;
2. The Cryptocurrency Fear and Greed Index dropped to 29 today, indicating extreme fear;
3. Tens of thousands of BTC in Mentougou are hanging over your head. The market trend is confusing. The selling pressure of tens of thousands of BTC may continue to be hyped. Are you ready to deal with it?
Technical aspects:
BTC: The monthly line closed at around 59,000 as expected. Judging from the Fibonacci retracement line, the lower resistance is around 51,500 points. At the same time, this point is also the 14-day moving average of the monthly line. The short-term lower target can be placed around 51,500.
Looking at the weekly chart, this week is about to close with a large real negative line, breaking through the technical moving average support, and the market still needs to continue to adjust downward.
From the daily level, after the sharp drop on Tuesday, the technical gap has been repaired. At present, there have been three consecutive small negative trends. The 7-day moving average continues to extend downward, breaking through the 14-day and 30-day moving averages, forming a dead cross downward, and is about to form a short second wave of decline. In terms of operation, continue to maintain a high-level bearish mindset. The upper pressure during the day focuses on 59000-59500 points, and the lower support continues to look at 58000, and then look at 56000.
ETH: The monthly line closed below the 14-day moving average, and the short-term short position continues to target around 2100;
The weekly line has now formed a real big black candlestick, engulfing the small white candlesticks of the previous two weeks. The support below is 2400 first, and then 2290;
The technical repair of the daily level has been completed, and the K-line basically started to go down against the daily 7-day moving average. In terms of intraday operations, the main focus is on high-altitude, and the upper pressure focuses on 2510-2530. The lower support is 2440 first, and then 2400.
Summary of performance in August: 31 transactions in total, 6 losses, winning rate 80.64%, yield 139.74%, principal of $10,000, profit of $13,974, compound interest trading will be launched in September, welcome to join us
Shanzhai: Yesterday we talked about a rebound on Saturday, and there is a high probability of a collective dive on Sunday. The dive has already begun. Continue to keep short positions and wait and see, and look forward to the formation of the second bottom before doing some swing bottom fishing!
SATS: Yesterday, it was bearish near 30, and the highest was near 3012. The current decline is nearly 5%. It remains bearish during the day, and the upper pressure is focused on the 29-30 position.
PEOPLE: Yesterday, the price was bearish at 74-76. The highest point yesterday was 75. Now the price is quoted at 66, a drop of 12%. The price continues to be bearish at 60.
The cryptocurrency market is highly volatile, so be cautious when entering the market. This is my personal opinion, not a recommendation, just for sharing
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