#BTC Weekend Task - Hold the key daily support of 62,400!
It's time to assign weekend tasks to BTC once a week. Our tasks in the past few weeks have been completed excellently and the established goals have been achieved. Let's continue to look at this weekend's tasks.
BTC's rebound before the opening of the US stock market was originally thought to be a trading interest rate cut different from the United States. Unexpectedly, it also fell down and tested the support near 62,400 on the daily line again during the day.
It seems that the initial non-fall was only because the crypto market did not fully enter the US trading time, and it fell directly after entering the US trading time.
Task goal:
Hold the lower line of the 62,400 daily Bollinger band, which is also the lower line position of the daily range oscillation. This position was mentioned in today's market interpretation.
The U.S. stock market closed in the early morning until about 8 am. As long as it can hold this position, the subsequent rebound can still be regarded as the oscillation range of 62,400-65,700. On the contrary, if it falls below this position and continues to test the weekly support, then 60,000 may be tested.
If BTC can stabilize at this position over the weekend, the weekend cottage will not panic too much, at least it can spend a week smoothly. At the same time, as time goes by next week, the expectation of economic recession will be slowly digested, and the negative sentiment of the decline will be alleviated. There may be a volatile rebound and a continuation of the volatile callback trend.
As for #ETH, the decline is slightly larger than BTC. If BTC continues to fall, ETH's effective support can only be seen around 2820.
Wait for the results tomorrow!
