Bitcoin’s market is underpinned: bulls counterattack, market turmoil revives?
Set the momentum, control the position, select the position, three steps for success! ! !
Yesterday's Kaki market market showed consolidation and shock during the day, without many bright spots and was quite dull. However, the market prices rose rapidly in the evening. This wave of prices attracted many speculators, but in fact it was a cunning bull-inducing operation! The market once again hit a new all-time high, but what followed was a washout! As a result of this move, the market quickly fell from a high of 73,400 to around 68,500, a loss of nearly 5,000 points. Many brothers woke up and found that the price had not changed and their positions were gone. Given that the price of the pie is at a high level, it is crucial for us to control our positions when placing orders.
As Lao Lin predicted in yesterday's article, another washout is not unexpected. From last night to early this morning, the market situation in Shichi Market once again showed that it first lured the bulls and then the bears, and finally completed a round of market washing. At present, we still need to be alert to the risks brought by high corrections. Again! ! ! The current price no longer supports us to chase the rise again. We will not go long without inserting the pin, and we will try to go short at the high point.
On the big pie daily line, yesterday's market closed with a negative line, breaking the previous bullish pattern of 6 consecutive positives. However, the negative line has a long lower shadow, indicating that bulls are still in control of the market. The K-line did not fall below the 10-day moving average support. Despite the rapid heavy volume decline, it gradually regained its lost ground in a steady manner. From a technical perspective, technical indicators have not shown a downward trend, and the bullish trend is still obvious. The price once again stood at the key support level of 72,000. It seemed that the market had completed an up and down journey, and finally returned to the origin of yesterday's daytime shock. We still need to keep an eye on the pin situation today.
The upper shadow line appeared in the persimmon market in the evening, and the lower shadow line appeared in the early morning. The current market is in a volatile range. The long and short situation in the market changes rapidly, and yesterday's price is exactly the same as today's price. On the technical side, after the five-day moving average formed a dead cross and was accompanied by heavy volume, the bottom was supported by the 120-day moving average, and then rebounded quickly, forming a positive line that directly broke through the 71,200 mark. Since then, the market has entered a consolidation phase.At present, the five-day moving average and the ten-day moving average have formed a golden cross, and the price has stood on the middle track of the Bollinger Bands, while the upper track has run parallel, posing a certain amount of pressure. The market rebounded slightly in the morning, showing signs of continued upward pressure. We can first focus on the suppression near 72400 at Fibonacci line 0.78. If it can successfully break through, the market is expected to continue to reach new highs. Below, we need to pay attention to the support near 70300 at Fibonacci 0.38, which is also a key turning point.
Operational advice: We will pay close attention to the suppression situation near 72550-72850. If the price fails to break out of this range, we will consider a short entry strategy. Below, we first focus on the support level of 70200, and focus on the pin situation. #BTC #ooki #VANRY #HIFI #WAVES $BTC $ETH $BNB
The situation of sailing is like sailing at night. It changes rapidly. You still lack a lighthouse. Pay attention to it and don't get lost.
