Is the current rebound just a technical "false" breakthrough?
1. From the perspective of the 1-hour Bollinger Band of Bitcoin, it has narrowed to less than 250 points in the morning before the breakthrough. This short-distance amplitude is a breakthrough after contraction, but it is possible to break through upward or downward. Since it chooses to break upward, it means that the current bullish sentiment is good.
2. From the perspective of the 1-hour K-line, the breakthrough was suspended when it encountered the 1-hour MA200, and then fell back. The breakthrough did not touch the 4-hour resistance point, and the breakthrough strength was weak.
3. The breakthrough did not bring out effective trading volume. The boring breakthrough rebound is suspected of being a false breakthrough, and there is indeed no liquidity on weekends.
4. The RSI index began to fall after touching 60 in 1 hour, indicating that the bullish sentiment is not enough to continue the subsequent rise, and the sentiment is released and then it is weak.
However, for the breakthrough on the weekend, it can still be regarded as the overflow of bullish sentiment. According to the recent weekend market, most of Bitcoin will fluctuate slightly, but the current breakthrough rise is not too exciting. The specific trend still needs to wait for the opening of the US stock market on Monday to see the direction. This week, we are betting on the June non-farm payrolls. The sentiment is expected to be squeezed until Friday. Of course, the Ethereum ETF may be approved at any time during this period, which is a hidden random positive.
