The driving force of the big cake on the whole market is really too high!
The main force suddenly accelerated the buying volume after 4:30, and took in about 8.6k BTC buying volume at a time, which was quite strong! But now it has reached the top of the descending channel!
With such a rapid rise, do we have to immediately follow the reversal direction of the market and change our views? Not really!
Two arguments:
1. In the movement of the K-line, refer to the law of physical movement! Every time there is an accelerating force, there will be a reverse accelerating force to offset it. At present, the small-level K-line is moving and changing, forming a 4-hour level that has closed the upper hidden line positive line! Although it is a 4-hour level big positive line, the tug-of-war of the upper hidden line also means that even if the short side did not defend the sharp rise at 4 o'clock, the short side is still in a key position to go short at highs and distribute at highs! Strength is always mutual. This small rebound is a response to the accelerated decline in the early trading! If the sudden pull fails to effectively stabilize or break the reversal trend pressure, it will still be in the downward channel and continue to trend downward!
2. If the current round of callback to 53485.93 is counted as the first retracement of this round of 52920, then the real second test has not come. Today's sudden two-stage acceleration of the 4-hour level is just a response to the short side reaction of yesterday's small step rise, not a real second big retracement! Because my point of view remains unchanged, I think it is necessary to really step on the pin 48900 and rebound to a position above 50000, which is considered to be the relay callback in place! In addition, the narrative of the second half of the bull market will have a better starting price!
Everyone has different perspectives and different opinions, and there are disputes. This is due to the bad market environment! Kunchen does not have any attack, slander, or competition on any blog comments of the opposite view! Only personal opinions, not investment advice!
The trend of the market from last Friday's stop to now can provide us with some fundamental information: $BTC
It is fluctuating around 56550 as the trading axis, the upper limit of the trading range is around 58076, and the lower limit is around 55233. It has been verified that the short-term trading range I set at the weekend is effective! What will happen next, I will not keep it, and continue to share it with you!
Follow Brother Chen to avoid getting lost, like and comment to increase your wealth!
