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Bitcoin closed the propeller yesterday, which is a sign of loosening of chips. The bullish force has weakened during the upward attack. Then Bitcoin is very likely to pull back. Is it a pullback in the upward trend, or is it possible to reverse the current upward trend? We first focus on the horizontal support of $60,600. If the support is effectively confirmed, the price of Bitcoin will rise again.
The strong pressure ahead is at 65,000~66,000 USD, which is also the key position we have repeatedly emphasized some time ago. Of course, the premise is that 60,600 must be held. If it cannot be held, it may form an effective downward break after breaking through the horizontal pressure level of 61,700 USD, just like the previous wave of market. If a similar trend occurs at this time, Bitcoin will be in danger.
Of course, if we look at the weekly level, the situation is different now. From the weekly level, when the price of Bitcoin crossed the 30-day moving average with a positive line last time, its MACD indicator was still a certain distance away from the 0 axis, and was also suppressed by the upper part of the channel at this position. Then, two consecutive medium-sized positive lines reversed the moving average pattern of Bitcoin's five-week line crossing the thirty-week line. If Bitcoin can maintain around US$62,000 according to this trend, it is very likely to form a 5-week and 10-week golden cross next Monday, which is of course a positive bullish signal.
Then going down, the MACD indicator may also form a golden cross, so whether it can be achieved or not, we have to wait until next week to confirm, and it is very critical. If it can be won in one fell swoop, Bitcoin will usher in a new spring. If it cannot be won, Bitcoin will also have a large consolidation trend. This is the price of Bitcoin. At present, we have to see that Bitcoin will have a downward correction trend at the 6-hour level. From the perspective of 4 hours and 6 hours, the price MACD of Bitcoin has a top divergence. From the height of the first energy column and the size of the energy column, the former is gradually larger than the latter, and the price is gradually pulled up, so it is inevitable that Bitcoin will have a correction after the short-term level of divergence is confirmed.
This should be good news for those who are short or have not gotten on the train, but there is also a risk of position breaking, and controlling positions is the top priority!
Ethereum price performance, yesterday it rose by 100 US dollars, up 5.46%, and effectively broke through the 30-day moving average. The 5-day moving average also began to cross the 30-day moving average, so Ethereum has been in a downward trend for so long and has broken through the 30-day moving average and the N-shaped neckline for the first time, so after the breakthrough, the retracement is a very good time for us to get on the train or cover our positions. We can refer to the 30-day moving average of 2470 for the point of covering positions. If it can be directly confirmed at this point, Ethereum will continue to attack. Of course, if it breaks the neckline of 2440, it is necessary to reduce positions or avoid risks accordingly. This is the price of Ethereum.
From the weekly level, Ethereum is still in a relatively low area. It is not like Bitcoin, where the 5-week and 10-week moving averages are above the 30-week moving average. It is still short-short, but it is only temporarily weakened and is moving upward with the market. We also need to mention the daily level, because the MACD indicator of Ethereum's daily level is still below the 0 axis, so it is unlikely to start the main uptrend below the 0 axis. As Ethereum, there will be relatively more entry time windows for everyone to seize the opportunity, but of course, you must also control the risk.
As for the trend of SOL, judging from MACD, at the daily chart level, its fast line is crossing the 0 axis upwards. It has not crossed the 0 axis yet, so it depends on its performance in the next few days. If it can fluctuate upward or does not break down, then it will continue to develop in a positive direction.
As SOL also broke through the 30-day moving average with one positive line and three positive lines the day before yesterday, and this is also an N-shaped structure, Ethereum is very similar to other currencies. If it falls back to the neckline at $140 to $142, which is the 5-day line and the neckline, then Brother Jiu’s opinion is that you can cover your position or enter the position. Of course, if its price breaks 138, which is below the lifeline, you must stop loss and leave the market, and don’t fight. Yesterday’s selling pressure was a little heavy, because the upper shadow of the closed K line began to fall after touching $152.5.
Of course, the neckline is still a very strong support level. It would be best if the situation does not happen like last time. If this situation happens, it means a break, which is not conducive to the bulls. In this case, it is time to cut it off!
In the trading process, we always adhere to a trading concept. What is this concept? The imperfection of the trading plan, any trading plan may hit the stop loss, of course, it is also possible to go out of your expected situation, so we must control the position, so we must have determination, so we must do a good job of emotional management, these are our very important magic weapons.
During the entire trading process, as the price of Bitcoin improves, we must be dedicated and focused. Only by being dedicated and focused can we spend more energy on the tokens we operate, manage our positions more effectively, and survive in this trading battlefield and get the returns you want. This is just a possibility. Of course, if you can't do this, you basically have no chance of trading. If you can't do this, you will encounter more bumps in the entire trading road.
