Big Pie Analysis
Bitcoin has been fluctuating upward since the pin was inserted. Yesterday, the market broke through the resistance of 65,500 and reached a high of around 67,230, but suffered a certain decline. For those who bought low and bought many, the good news of a profit of 7,000 points is exciting. At present, the price of the currency is hovering around 66,680, and the MA7 indicator at the four-hour level is turning upward, and the price is also following the upward trend. This shows that the bullish trend is dominant. However, the upper side is currently under pressure from MA200, forming a double-top decline. We need to pay close attention to the strength of the retracement. If it can hold above 65,500, the market is expected to continue the upward trend.
From the daily chart, the K-line has been rising for six consecutive days, trying to break through the suppression of the MA60 moving average. On the short side, the two lines are sticking together with shrinking volume, and there are signs of golden cross. At present, the market is still in the range of shocks, and the risk is temporarily alleviated. In the short term, the bullish trend begins to show signs of strength. We should remain optimistic and continue to be optimistic about the bull market.
Technical analysis shows that the upper pressure is in the range of 67700-68300, while the lower support is in the range of 65500-64500.
Ethereum Analysis
The trend of Ethereum is consistent with that of Bitcoin, showing an overall oscillating upward trend. Yesterday, the price reached a high of 3235, but then fell back due to resistance. For investors who follow the low-multiple idea, it is gratifying to make a profit of more than 200 points. At present, the price of Ethereum fluctuates around 3200. In the four-hour chart, multiple pins failed to break through the pressure near 3230, showing the strong pressure-bearing capacity of this area. The bulls are gradually weakening, and there is a trend of shrinking double lines. The current trend shows the need to step back, but as long as the support of MA14 is maintained, the decline is not expected to be too large. Although Ethereum is weaker than Bitcoin, there is still the possibility of accelerating the rise from the market situation. At the daily level, the short force shows a trend of shrinking double lines, and there are signs of golden cross at any time. It is expected that once it stands above 3230, it will hit the resistance near 3320. It is recommended that long orders continue to remain stable, and the future rise is expected to bring good returns. Expect Ethereum to bring us surprises.
Technical analysis shows that the upper pressure is in the range of 3230-3320, while the lower support is between 3170-3100.
K-line is king, trend is emperor. I am Wolf Brother Talking about Coins. I have been focusing on BTC and ETH spot contracts for many years. There is no 100% method, only 100% following the trend. I update macro analysis articles and technical review analysis on the entire network every day!
