Good morning, friends in the cryptocurrency circle! Here is your Fanchang goddess ~ Manshuang! Yesterday's market was indeed very painful, but the market volatility is normal, and it is making necessary corrections for the previous strong upward trend of bulls. The price of Bitcoin has been running in a narrow cycle for most of the time, as if it is accumulating strength for the next breakthrough. In the evening, Bitcoin suddenly exerted its strength and brought a small wave of highs to the market. Its price reached 71714 at the highest, but the good times did not last long, and then it fell back again. At the same time, Ethereum also showed a good performance during the day, and its price reached 3881 at the highest.
From the perspective of daily structure, the short-term upward rhythm was broken by the negative line after the three consecutive positive lines rose. It can be clearly seen that the pressure of the previous top 72000 area was obvious. The market failed to break through after touching it again, so it fell under pressure. The top pressure was strong. If the short-term fell again, the market might form a double top pattern of M top. The upper pressure could not be broken, and the bulls would always have difficulty in making any progress. The bulls had already shown obvious exhaustion in the 4-hour chart. The market gradually fell back. Once the direction changed, do not participate against the trend. Escaping the top is also a skill. The short-term rebound cannot be continued. In terms of operation, continue to treat it with a high-altitude thinking.
6.7 Early trading ideas and operation suggestions
Short the rebound of the big cake near 7100-71300, and focus on the 69500-69000 line.
Short the rebound of ether near 3825-3850, and focus on the 3750-3700 line
That's all! No matter how much you say, it's better to do it boldly! It's better to take action once than to consider it ten thousand times. Students who want to walk to Fanchang Road with Manshuang, hurry up!
