From the daily chart of Bitcoin, it seems that Bitcoin price has encountered pressure from below the middle track of BOLL since the previous round of strong rebound, and the overall trend shows a gentle and slow downward trend, as steady as a snail but not losing its tenacity. Switching to the 4-hour chart, we noticed that the price has quietly touched below the upper track of BOLL, showing signs of short-term pressure.
Therefore, in the current high area, blindly chasing the rise may not be a wise move. After all, the recent market's long and short conversions have not shown strong sustainability.
In most cases, the weekend market is in a state of volumeless fluctuations, but today there was another wave of monster bombs (in fact, from an experience point of view, this is normal. Occasionally there will be one or two waves of exciting market conditions during the weekend, which is also something that the market makers often do. After all, the market makers don’t really want to be idle).
From the perspective of review, the high point of this acute rebound of Ethereum is close to 2700, but the daily and 12-hour indicators have not changed much. At present, the KDJ and BOLL on the daily line are still tending to fluctuate downward, only the MACD golden cross is strong; the main chart MA5 and MA10 are still in a sticky downward posture, and the high point MA30 continues to suppress the trend.
In terms of 12 hours, the short-term bullish volume of KDJ and MACD has been strengthened. Although the price ratio in the main chart is above the three-day moving averages of MA, MA30 and MA10 still maintain a downward trend. It can be seen that the intraday pull-up is very abnormal.
On the weekly chart, KDJ and MACD are still in the short-term stage of large-volume short positions, and the overall weakening of BOLL is not much changed; the main chart MA5 and MA10 continue to press down, and the technical gap this week has been filled, and the main K coin price is also a shrinking K with a long upper shadow. From a technical point of view, today should be a volatile downward trend, but the coin price has an acute rebound sentiment against the indicator; from an experience point of view, this wave of rebound sentiment may be to accumulate energy in advance for the update of the weekly line next week (first rebound and accumulate energy, so that the gap will not be too large when the closing is completed next week, and the bearish sentiment will naturally follow the trend).
Overall, although there was a rebound today and the price of ether was raised above 2650, the weekly and monthly market's downward momentum was too strong, so I personally expect that the rebound today may be to accumulate energy for short positions after tomorrow's weekly update (meaning that today's rebound is to accumulate energy and reserve downward space in advance, so as to pave the way for next week's trend). Real-time guidance WeChat: btc5063
Bitcoin is short around 59500-60000, with the target at 58000-56500
Ethereum is short around 2650-2680, the target is 2570-2500
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