Interpretation of BTC and ETH market on May 23
Market review and analysis
BTC market trend has stabilized at the 60,000 mark on the daily level and walked out of a small-level downward channel at that time. The market has warmed up. In fact, according to the current trend, it is a simple rebound near the previous high point, that is, the resistance point of 72,000. The resistance of this point still depends on a periodic retracement at the short-term level. Only by breaking through and stabilizing the key point position of 72,000 can the market break through more strongly and reach the target point of 76,000-80,000. The unilateral increase of ETH by 21% the day before yesterday was completely in accordance with the downward channel trend of the daily level. It stabilized the parallel support point of 2,800 points, which is also the side point The third support point of 2800 points just coincides with the time. The trend is also the third side point of the downward channel that was stepped back from the high point on May 18, and continued to rise on May 20. Many people will say that it is due to the influence of news, or various aspects, but according to the naked K technology, it is clear that it is a rising breakthrough trend to step out of the downward channel. However, there are also factors driven by the news and the previous two cakes have been sluggish and rebounded, so there will be such a 21% increase. The subsequent market continues to be bullish, but the current increase is relatively good, just pay attention to the staged retracement.
Today's Highlights
BTC should pay attention to the current support position of the 66000-68000 range, and the key point of 72000 points should still be paid attention to above. The position of the line, only if this position breaks through and stabilizes (the daily closing line is considered to be stabilized above 72000), then the market can reach a new historical high again, that is, if it strengthens, it can directly see the 76000-80000 range. The trend at the intraday level still has a certain space to step down according to the high point of 72000 in four hours. Pay attention to the first support point of 68000 and 67000. 66000 is an effective support position at the short-term level. If this position is touched, a rebound can be seen, and the high point of 72000 can be hit again. In the future, a breakthrough can be directly seen.
The trend of ETH on the daily level is just a virtual break of the 3800 point line, and it has not completely stabilized. It is also a normal stage for the market to step back slightly in the short term. Yesterday, The support position given by the day, 3600-3660, is a short-term support point. Yesterday, it just reached this range for a rebound. The market also looks at this short-term support point at the intraday level. The effective support point at the daily level is the 3560-3500 range. The focus of the support point at the intraday level remains unchanged at the 3600-3660 range. It is still a rebound if it is touched. The upper resistance point is the 3800 point line. At the four-hour level, as long as the closing line is at 3800 points, it can be considered as a breakthrough at the intraday level. You can directly look at the 4000-4200 range, which is near the new high position this year. At the daily level, the closing line is above 3800 points, and the upper space is further enlarged. You can directly see the 4200-4500 range line, and the market can warm up and strengthen strongly.
