In the early hours of last night, the market experienced a round of violent fluctuations. The exchange rate first rose to 69400, then fell to 66600, and then rebounded to 69100 points. This wave of violent fluctuations of 8000 points back and forth can be regarded as a big wash. Before the news came, Jinhe's attitude was always cautious and wait-and-see, but when the market sentiment changed during this period, we still took advantage of the trend to enter the market and took a few waves, which was satisfactory. Of course, Art's speech did not disappoint the crypto circle, and his words were passionate. If he can sit firmly on the throne, BTC is expected to change the global financial background, and cryptocurrencies will be integrated into all existing systems.
From the current market, on the four-hour line, the exchange rate has gone out of a continuous middle-yin line and tested the bottom resistance level. Although the support has not been broken, the upper and lower shadows of the K-line show the fierce tug-of-war between the long and short sides. Yesterday's decline was accompanied by a rebound. Although it stopped the short-selling retracement trend, it did not stabilize. This trend caused a certain panic in market sentiment. From a technical perspective, although the market has experienced a wash and a V-shaped rebound, the exchange rate eventually returned to 67,000. While standing firm at 67,500, the 5-day and 10-day moving averages at the daily level provided support, closing positively continuously, and accompanied by a long needle at the bottom, indicating that the market is still under the control of the bulls. If this upward momentum continues, the exchange rate will further test 70,000, and the good news has strengthened the bullish atmosphere in today's market. The current market trend is affected by both technical and news aspects, and the long-short game is fierce. In the short term, we can pay attention to the retracement and observe whether the bottom support level can be broken. If it does not break, we will continue to be bullish.
Bread can be long at 66,900-66,600, with a target near 68,200; Ethereum can be long at 3170-3140, with a target near 3,300.
