BTC#ETHmarket analysis: This week's moving average is updated, support and pressure are changed, and if the price does not fall below the shock range during the day, don't panic!
A new week, a new beginning. After the "flash crash" in the early morning, many people have started to panic. Although many reasons for the flash crash in the early morning are due to the low liquidity on the weekend, for pessimistic people, these are not reasons.
In the new week, the weekly and daily trends have changed slightly, and the short-term support and resistance have also changed. Let's pay attention to it. At the same time, today is the only window period this week. For pessimists, there is no need to panic if the market does not fall below the shock range.
Bold assumptions, careful analysis, welcome to Uncle Cat’s encrypted “channel”
BTC：
Resistance, the daily line keeps moving upwards, and the resistance can be directly seen at the previous high of the daily line of 72,000. The reason has been mentioned before and will not be repeated.
Support, the weekly support moves up to 65,700, and 65,150 below serves as the second support. The two supports are closely connected, and the support area is relatively stable.
Oscillation range, the current price is oscillating in the 1-hour Bollinger band range. If the intraday price does not fall below 66,600, it can basically be regarded as a 1-hour range oscillation. Don't panic. On the contrary, if it falls below, just refer to the upper support.
RSI: The index hit the 70 overbought range during the day and then fell back. It is currently at 68. In the short term, pay attention to the overbought correction sentiment after hitting 70.
ETH：
Resistance, refer to the previous daily high of 3979, the reason is the same as BTC,
Support, the 3400 weekly support continues to be used, and MA120 3360 is close to it, forming an effective support range.
It is a range of fluctuations. Don't panic if it doesn't fall below 3420 during the day.
RSI: Index 57. The ETH sentiment index has been relatively stable. The outbreak should occur after the ETF is passed tomorrow. If it rises after passing, pay attention to the overbought correction after reaching 70 in the short term.
Summarize:
This week is a week with intensive driving events. Today is the only window period, and the market will be relatively stable. Market fluctuations may occur after the opening of the U.S. stock market in the evening. At the same time, we should also pay attention to the trend of U.S. stocks and U.S. bonds in the evening to refer to whether the risk market is maintaining the Trump transaction or has canceled the transaction expectations after Biden withdraws from the election.
I have something important to go out for today, so the update may not be very timely. I apologize for that!
#BTC☀ #ETH🔥🔥🔥🔥 $BTC
