Bitcoin market situation:
After the recent rebound, the price of Bitcoin has been fluctuating around the key position of the daily Bollinger Band midline. At present, the upper monthly EMA7 and the daily midline resistance level that we have focused on are moving down.
EMA7: 65,700, daily Bollinger Band midline: 63,300,
The downward movement of the key resistance level will bring greater pressure to the price rebound. And the indicator moves down, and the overall trend of the daily line is also moving downward.
The lower support, the current price has fallen below the 4-hour Bollinger Band lower line in the short term, resulting in a break. Although the selling pressure is not large in the short term, the current position cannot stimulate a rebound in buying volume.
Continue to fall below to see how the buying volume of the integer level 60,000 is. During this period, the 61,200 gold support can be used as a buffer.
The 4-hour Bollinger Band has completed its expansion during the decline. The short-term stop is because the 4-hour Bollinger Band triggered a small divergence. If you want to repair the divergence, you still need emotions to stimulate buying volume.
The RSI index fell back to around 50, and the index is relatively neutral, but the index has the risk of triggering a "death cross" and continuing to fall. The continued decline of the index means that the short-term market sentiment will continue to fall. Once it reaches 30, it can trigger a short-term oversold rebound sentiment. (Just look at this index)
Yesterday, in the small rebound of Bitcoin at the 4-hour level, we observed that Bitcoin's short-term trading volume exploded higher, but the price did not make a substantial breakthrough, so it was judged to be a false breakthrough. We will continue to look at today's market data and capital dynamics later. #BTC走势分析
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Yesterday, the US stock market rose due to the earnings of the banking industry and the optimistic expectation of the Fed's interest rate cut. At the closing stage and the fact that the earnings of some US companies today were lower than expected, the US stock futures market began to fall before the market opened.
The current risk sentiment of the US stock market is still tense and depressed. Whether it is the positive news of the earnings season or the optimistic expectation of the Fed's interest rate cut, it cannot always help the US stock market to strengthen. The high valuation and high bubble of the US stock market we mentioned before have been slowly spreading among traders.
Of course, if the speeches of the Fed officials this week continue to be dovish, they can still save the short-term decadence of the US stock market. Maintaining stability in the financial market is also a focus at present. The US stock market can fall, but pessimism cannot be spread too much.
Except for Apple, the stock prices of the seven US technology giants all fell before the market opened, and Apple's stock price was the only one that stood out.
Asian stock markets were collectively favored because of the sentiment of the US stock market. A shares, Hang Seng, and Nikkei all closed down.
The US dollar index gradually strengthened after 23:00 last night and is currently maintained at around 105.6.
The price of 10-year US Treasury bonds suffered a slight setback, and the yield rose, reaching a yield of around 4.5% again.
International gold and crude oil are relatively stable.
At 23:00 tonight, the Vice Chairman of the Federal Reserve will speak. The US stock market is expected to move after the speech, and will basically fluctuate naturally in the early opening.
The CME Bitcoin futures market quoted 62,685, continuing to maintain a positive premium of 480 points with the spot. According to the value of the positive premium, the futures market is still dominated by bulls.
Bitcoin started a new round of decline after a false upward breakthrough in 4 hours last night. It has currently broken the 4-hour support. There is a small support below that has not yet touched the test support strength. Let's pay attention to the Bitcoin market later. #BTC走势分析
