9.8 Bitcoin's retracement has not ended yet, the time has not come, and the bottom-fishing army should not be impulsive

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From the K-line trend of Bitcoin, not only is the upward momentum weakening, but the price trend is also in a lower range of consolidation. The rebound of the K-line on Saturday is still very limited compared with the decline of the day before yesterday. The ladder-shaped downward structure of the currency price rising slowly and falling quickly has not been affected. The support below 54000 has been temporarily defended successfully. In the four-hour view, it is still in a short trend. After the Bitcoin price fell directly from 0.50 to 0.382, it already means that the market has reversed from long to short. Yesterday's wave of pull-up market was just a small rebound! Secondly, a rebound does not represent a reversal. Today, the price of the currency was suppressed by the upper track of the 1-hour Bollinger Band and temporarily adjusted back to maintain above the middle track. MA5 and MA10 crossed downward, MACD shorts shrank, and the downward pressure on the currency price weakened. Pay attention to the MA5 pressure breakout during the day. From the overall trend, Bitcoin's daily line has not yet emerged from the haze of falling. I am more inclined to break the 53,500 support for Bitcoin and give short guidance. Bitcoin: Shorting in the area around 54,600-54,700, the target is: 50,000.

——The above article was written by Li Hong Trend. The article is only a personal opinion. The points of each platform are inconsistent. The real-time market black map connects the author. The above analysis content only represents the author's personal opinion and does not constitute a specific operation. The article has a lag. If you operate based on this, you will be responsible for your own profits and losses. Investment is risky and you need to be cautious when entering the market.