Yesterday, the market showed a certain rebound ability, but this rebound did not continue, resulting in the rebound energy accumulated by the bulls being exhausted. Therefore, the market is likely to continue to be in a state of shock, and it is expected to continue to maintain a shock pattern this week until the daily 179 line becomes the upward support price.
On the daily chart, the blue descending channel continues to cover the market. At present, the bearish forces are still dominant and have not yet broken through the channel. At a smaller level, the yellow arrow forms a new small downward trend suppression, but there is support below. On the one hand, due to the gradual upward movement of the daily 179 line, the yellow downward trend line theoretically cannot form a downward channel. It is currently showing a wedge trend and may break upward.
Yesterday and today were both good rebound opportunities, but yesterday's rebound failed to stand firm near the previous Yinxian high point, forming a pattern with a long upper shadow, which led to the loss of rebound power without corresponding effect. The long upper shadow may become a new shock center, so it is very likely that a cross star pattern similar to the day before yesterday will be formed again today. The best rebound opportunity was not fully utilized, and it is likely that the rest of the week will only continue to fluctuate relatively, and even need to be vigilant about the possibility of further decline.
However, at present, the performance of altcoins is still good, better than the sideways trend of mainstream cryptocurrencies such as Bitcoin and Ethereum. There is still relatively ample time today. Theoretically, there is still a possibility of grabbing a rebound, but from the perspective of form, the probability is relatively small. If the market could suppress the desire to rebound yesterday and form an ordinary cross star pattern, the rebound effect of altcoins today would be much better, which is a pity. Overall, based on the performance of the market yesterday, the probability of the market continuing to fluctuate today and tomorrow is greater than the probability of rebounding, and investors need to remain patient.
In terms of operation, yesterday's operation strategy is still applicable - in summary, overall, there is no big problem with the market, but in the ink stage, we need to be more patient. In terms of operation, the current volatility is not large, which is consistent with yesterday's operation strategy. For Bitcoin, you can still use the parallel line low as a stop loss and go long; for Ethereum, you can use $1,712 as a stop loss. These operations have a certain rationality in the short term, but there is still uncertainty about the safety. If the stop loss is triggered, then for Bitcoin, you can consider operating in the range of $24,300-24,900; for Ethereum, you can operate in the range of $1,620-1,670, and the reasonable stop loss levels are $23,600 and $1,610. For spot holders, you need to be patient and wait for opportunities to come. #合约锦标赛 #BinanceTournament #feedfeverchallenge
