If you have carried orders for the first time, you will have a habit for the second time. Don't let mistakes form a habit and instinct. This is a kind of ability in itself.
During the day, the market started to fall due to three main reasons:
(1) The coins in Mentougou started to move
Valued at US$500 million, more than 8,000 BTC were withdrawn from the Mentougou wallet to an unknown wallet. Billions of BTC worth will be paid out before October this year, which is scary.
(2) There are a lot of hold-up orders above 70,000. After experiencing the panic of the plunge, it finally rose back up. The hold-up orders will definitely come out, so if there is no super big profit, 70,000 is difficult to break.
(3) Before the US April PCE data is released this Friday night
Big funds don’t dare to act rashly. Before Friday, the market is likely to fluctuate. According to past rules, it is more likely to fall before the data is released.
Bitcoin, under this emotional background, failed to continue its overnight rise in the 70,700 area, and then started a waterfall retreat. As of now, it is still at the 68,500 first-line consolidation, and the daily yin and yang cycle is excessive, all of which have the taste of a hammer. Look. If Duo does not break through, it means that Kong does not continue, and the pattern still has a tendency to continue to adjust.
It is currently hitting the 67400 line to stop falling and rebound. If the U.S. stock market breaks through 69500 before the opening, it will retrace much. The U.S. market will see a second continuation. If it fails to continue to break through the key pressure test, then today will definitely be a shock, and the rise cannot be broken early. The gap opens occasionally, and it is also a shock repair that is difficult to continue if it breaks. Focus on the first-line suppression of 69500, and the support below 67500. Treat it as a principle if it is not broken or established.
Ethereum, which shot up to 3970 overnight, also quickly stepped back in early trading. It was not as strong as the big pie. The current rebound speed is also slightly faster, indicating that the market is still very determined to be bullish. The daily level has continued to rise, slowly following the upper track, and showing continued upward momentum. However, it is still necessary to pay attention to the possibility that assists in this kind of news may backfire.
At present, it has gone out of its own characteristics and is not in the same frequency as the big pie. During the day, we still pay attention to the pressure test of the 4000 area, the previous high point above, and the support 3800 below. The price is currently pulling at the 3900 area. It is recommended to wait for the high and low points before intervention.
Tuesday’s strategy
Btc, 69000 to 69500, looking at 67800
Eth, 3930-70Kong, looking at 3850 to 3780
If both prices fall back to the right level, we can expect a short rebound! $BTC $ETH $BNB
