The callback on 24/03/15 is for a better rise. BTC’s weekly potential cup-handle pattern is one of the bullish bullish patterns.
It began to fall rapidly around 9 o'clock last night. It has dropped to as low as 66,699. From the highest point, it has dropped nearly 10% and dropped to over 7,000 points. 190,000 people were liquidated and their positions were liquidated to 683 million in 24 hours. During this period, the total of several large liquidations exceeded 150. 100 million RMB. During this period, we have been reminding the risk that this position is not suitable for medium and long-term layout and is not cost-effective. Just be a bandaid and copycat, and if you make money, treat it as a bonus. Although the overall trend is still strong, with prices ranging from 80,000 to 100,000 or even more, now that we are back, we continue to recharge our faith. The pullback is for a better rise. But it won’t be done in one step.
23/03/08 Egypt’s currency crashed and plunged 40%. Bitcoin was denied a one-day trip to its previous high. Are you wary of the risk of short-term correction?
24/03/11 BTC hit a new high of 70,000, the weekend rebound was rejected again, be wary of short-term correction risks
In yesterday's analysis, it was reminded that the daily line has entered an ascending channel in 4 hours. If it does not break, it will see 76000-80000. The precaution is to pay attention to the risk of callback if the channel directly falls below. We are still fighting for the last glimmer of hope for 68600. If the rebound fails, the next step will be around 59,000-60,000 (20% retracement according to the past) or even lower 50,000-51,000 (30% retracement). Just buy the dips in batches according to your own trading plan.
Nothing is impossible in the trading market, and I don’t like looking for reasons when it goes up and reasons (news information) when it goes down. I follow the operating rules of the trading market. If it goes up too much, it will fall, and if it goes down too much, it will go up. That’s all. This period of time has been It is enough to say that there is no need for FOMO short-term pullbacks or breakthroughs to seize short-term opportunities. In the bull market of 20-21, I entered the market with a loss and left the market with a loss. Two years later, I came back still with a loss.
Flatbread
The 4-hour ascending channel fell below the morning rebound and the lower channel was suppressed and continued to fall. As of the time of publication, it effectively recovered above 68620. There is still room for downward adjustment. The top support of the V reverse on March 6 is also being tested at the moment. If it falls below again, it will directly test the bottom support of 60,000.
The 4-hour MACD diverged from the top three times, and then directly fell below the 4-hour ascending channel. The OBV indicator fell below the yellow line in the 4-hour line and cannot be extended to the daily line. Otherwise, the retracement will be large and the time space for the correction will be lengthened.
support:
pressure:
We previously predicted that the weekly chart may have a cup-and-handle pattern, and now the possibility of a return below it has increased.
1. According to the wave market, a 20% retracement is 59,000, and a 30% retracement is 51,000.
2. According to the cup and handle pattern, the market will retrace 1/3 of the large fluctuations, and the 1/2 retracement positions are 57000 and 44500.
ether
Ether's rise has been weak and its rise has become smaller and smaller. It should be noted that the good news has turned bad. The weekly rebound has been blocked below Fibonacci 0.786 (4015), and the daily line has frequently inserted pins back to 3200-3400. You can add positions in batches.
In 4 hours, the box fluctuated between 3700 and 4000, MACD top diverged, and volume and price also diverged. The price trends of Big Pie and Ether are diverging. (Analysis No. 11)
support:
pressure:
In the short term, pay attention to the ETH/BTC exchange rate, which is close to the previous small support. It will break out of the W shape at the hourly level and divergence at the end of 4 hours to see if something will happen.