BTC Technical Analysis

According to the triangular trend strategy, breaking below the daily MA30 and looking at 5 K bars, we can draw the following conclusions:

1. Just at the fifth bar, it has reached the MA30 moving average, the daily MA30 represents the mid to short-term bull and bear;

2. The daily level MA30 ascending triangle has been broken, changing from an upward trend to a consolidation trend, the level has expanded, and we need to look for a larger level triangle.

From the smaller level structure:

1. Overall, it still cannot escape what I once said, 100,000 is a position where the main funds will definitely make moves, the highest point of 108,353 did not escape the gravitational range of the 100,000 integer level, 1 is that the volume is not large enough, 2 is that it did not leave far enough; therefore, going down here repeatedly is normal;

2. Current trend one: Starting from 92,520, a new upward movement begins, then the first condition is to break the previous high of 99,488 from the small level K to form an upward push;

3. Current trend two: From 108,353 → 92,233 is the first part of the decline, from 92,233 to now is the second part of the decline, and there will still be a third part of the decline;

4. Since we have analyzed the points of two types of trends, we can make our trading strategy around these points and trends, the profit-loss ratio is easy to calculate, and the take profit and stop loss are also very clear.

Yesterday I chatted with 'The Big Player in the Crypto Circle', and we believe that the observation points for the upcoming 'Altcoin Market' should focus on the following indicators:

1. The trend of Bitcoin is important but not so important;

2. The trend of the leading coins is more important than the trend of Bitcoin; this is the key point for whether it can open the altcoin market.

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