#BTC☀ Interpretation of the market: In the new week, the points are adjusted. Let's see whether the US stock market can stabilize and rebound before the opening of Tuesday!
There is nothing much to say about today's market. In the new week, the daily/weekly lines are adjusted and the points are updated.
Weekly range:
Weekly full track 54,600-71,400, weekly half track 54,600-63,000, the current BTC price is running on the weekly lower track.
Daily range:
Daily full track 55,800-64,000, daily half track 55,800-59,900, the current BTC price is running on the daily lower track.
Marked in the figure:
Daily level MA200 has clearly crossed MA120, and the technical side has generated a downward risk signal, and the shock decline in the past few days is also the case. However, these days are bottom flow and there is no natural trend caused by external emotional drive. Once there is external emotional drive, this signal is very likely to be invalidated.
Short-term resistance and support:
Short-term rebound resistance is at the daily level of 58,800, and the support for the decline is around the hourly level of 57,000. If there is a sharp drop, refer to the key support daily level of 55,800.
RSI: around 45. The value fell back over the weekend. Today, as the price rebounded, it continued to return to 45, which is consistent with last Saturday.
Summary:
At present, the price of BTC is suspended on the lower track of the daily and weekly lines. Although there is a rebound during the day, the situation is still embarrassing.
Since it is still more than 25 hours before the opening of the US stock market on Tuesday, I hope that the price of BTC can make a significant decline or breakthrough, otherwise it will be more frustrating.
