4.27 Bitcoin bears are starting to exert their strength again! How much will it fall this time? Is there a chance to buy at the bottom?
During the closing period of Bitcoin this morning, the price suddenly fell from around 6400 to around 62000. Now the price has rebounded slightly back to around 63000. From the previous low point, the price has already broken down, and the price has fallen to a lower point, so the current trend has begun to become a fluctuating downward trend.
From the daily line, the price closed with an inner small Yin line yesterday, and then today's daily line is currently breaking down directly, and the bearish trend is open, but today's daily line has not closed, so it cannot be confirmed. This often suffered losses in the past. In case the price rebounds today, the price closes with a big Yang line tomorrow morning and continues to close below the high point of yesterday's daily line, it will become an outer Yang line, which is a bullish trend signal. Therefore, according to the daily level trading, if you want to judge the trend by the daily level, you still have to wait until today's daily line closes before drawing a conclusion.
Then the bears continue to analyze from the four-hour level. Yesterday we mentioned that the red volume column of macd showed signs of shrinking, and there was a chance that the fast and slow lines would form a golden cross. However, if we continue to observe now, we can find that the price rebound yesterday was not able to continue, and the golden cross was still a little short. Then this morning's decline, the volume column began to increase again, the fast line began to turn downward, and the fast and slow lines were about to separate. The downward trend may be further amplified.
Then from the perspective of K-line analysis, as shown in the figure, I think the price is now likely to start a downward channel. From the figure, the price has already started to fall twice, and it is expected that it may start a third decline, and a three-push structure will appear, which will form a potential bull reversal signal.
In other words, the subsequent price may appear after another short-selling push to fall, and then a bottoming situation will appear, brewing a relatively large upward trend. So patient friends can continue to wait for the next wave of rising market.
Now it is still short-selling, and the price is likely to fall again, so if you want to operate now, you can try short-selling, but as shown in the figure, it is best to wait until the price rebounds before doing it, and consider participating at the top of the downward channel.
