US stocks rose tonight. Regardless of whether it is an oversold rebound or continued strength, the crypto market has been slightly driven. I didn't want to be long-winded, but I still have to say a few words.
At present, the market and trend still need to use @Phyrex_Ni's words. It is really not bullish if it rises and bearish if it falls. It is necessary to pay attention to the situation of key positions.
At present, the rise of Bitcoin, Figure 1, the 1-hour Bollinger band breaks through and temporarily stabilizes effectively, then we must continue to look at the 4-hour situation, Figure 2, the 4-hour resistance is 58,900. If this position cannot be broken, then it will still fall.
Looking carefully at the recent historical trends, most of the Bitcoin prices have fallen after breaking through the 4-hour Bollinger band upper line, and the daily Bollinger band middle line, today's point is 59,600, and it has not broken through and stabilized for a month.
So it seems that it is not too correct to be optimistic at this time. At least we need to break through the middle line resistance before we look at the situation. Moreover, tomorrow is the weekend, and we will face a stage of reduced liquidity. It is better to control your hands and go out more on weekends.
Bold assumptions, careful analysis, welcome to Uncle Cat's encrypted "channel"
