BTC market interpretation: technical support and resistance are compressing the operating space, where is the trend? Recommended index: ★★★
Recently, ETH's independent narrative ETF has been gradually delayed, and the market's heat has gradually decreased, so we are currently only looking at BTC related. The recent trend of Bitcoin has been infinitely close to the US stock market. The Bitcoin breakthrough just now and the rise of US stocks are all positive news from the release of inflation expectations from the New York Fed, which also brought some fluctuations to the market. This week's market sentiment game is still on Wednesday.
BTC: The weekly support moved up to 63,500, the daily support briefly fell back to around 69,000, and the daily resistance fell back to around 71,000. The support moved up and the resistance moved down. The short-term BTC operating space was slowly compressed. This week is not only a game of market sentiment, but also a game of breakthroughs and changes in the technical side.
The previous breakthrough of 72,000 has failed. If there is no hope for good news this week, it may be mainly adjusted and fluctuated in June.
RSI: The index has been kept at around 60 for a long time, which belongs to the natural trading range, and the sentiment is bullish. The index has not fallen recently. If the market maintains bullish sentiment for a long time and fails to break through, it is not a good thing.
Currently, BTC is trading sideways again near the support, and continues to wait for the market sentiment to stimulate on Wednesday. Friendly reminder, contract trading on Wednesday may be extremely risky, and it is recommended to wait and see for short-term contract trading.
