[What’s next for the market? 】
The current price of the pie is over 34,600. Yesterday we saw that the pie reached around 36,000, which just touched the resistance trend line in Figure 1. The Fibonacci retracement line at 0.382 immediately reminded us of the risk of a correction. The pie subsequently fell to the current level of 1,300. More. Then let's continue to look at it. Figure 2 can see that on the daily line, the market fluctuated upwards at the top, but the volume at the bottom shrank, which was a weak performance. Let’s look at Figure 4 again. The four-hour level MACD top divergence, coupled with the big market fluctuating upward (blue range), generally this kind of shock pattern will fall. The longer the shock, the greater the risk of a correction.
To sum up, we judge that the market will pull back to the middle track of the Bollinger Bands in Figure 2, which is similar to the 60-day moving average in Figure 3, which is 32500-33000.
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