No need to worry about the ups and downs of the night market. The Bitcoin market has shown a correction trend, but the market signals are clear and discernible. Perhaps you are still wandering in the fog. Regardless of the position, I will share a few key points about the night trend directly:
1. When Bitcoin is in a short-term correction, many voices have been singing down to the 40k or even 25k range. I can't help but wonder, are all these voices behind the investors who follow the wind? When the price falls, it is bearish, and when it rises, it turns bullish. It is really touching that it is completely controlled by market fluctuations.
2. From a technical perspective, the price on the current 4-hour chart has reached the 64k area, and MACD has formed a dead cross, indicating that the short-term short-selling force has been effectively vented. 64k is an important support level since the rise on the 19th. Traders should focus on the support strength near 63.5k, and the overall strategy tends to be long on dips.
3. During the European trading session, the RMB exchange rate against the US dollar performed strongly, breaking through the 7.23 mark in both the onshore and offshore markets. The onshore market rose by more than 360 basis points to 7.2250; the offshore market continued to rise, with an increase of more than 400 basis points to 7.2220. This exchange rate dynamic is also worthy of close attention.
