Kongtou Collective Plunge!

6.12 Bitcoin and Ethereum Market Analysis
The market holds its breath, long and short positions are on the verge of breaking out!
1. In the evening, Canadian Prime Minister Carney: Progress has been made in trade negotiations between the United States and Canada.
2. Trump said he is working to create a clear and simple market framework to enable the United States to dominate Bitcoin and cryptocurrencies
These two positive news have warmed up the market sentiment in the evening. The rhythm of Bitcoin and Ethereum, which were originally fluctuating and falling, has been temporarily stopped. Currently, Bitcoin is hovering around 107,300, and Ethereum is running at 2,730.
On the one hand, there is good news, which makes the bulls full of hope. On the other hand, the kongtou rhythm indicator is adjusted downward. For a while, there is great uncertainty on both sides, which also adds difficulty to the subsequent market analysis.
After the overall oscillation and correction of the white plate, a long shadow line at the hourly level in the evening tested 106,500 downward, and the kongtou of the bar chart gradually weakened. The market rebounded to 107,500 in a short period of time, but did not maintain the upward momentum. The trading volume did not continue to expand, but fell back, which indicates that the upward momentum is weakened and the price is easy to reverse.

The current RSI value is about 35, gradually entering a weak trend from the overbought area, but not completely in an extremely oversold state, and there may be further correction risks in the future.

The four-hour MACD is still below the level and has no intention of emerging. The RSI on the daily line continues to diverge downward, indicating that the upper resistance is strong. At present, we should pay attention to the key defense position of 105500. If the market continues to fluctuate and fall in the early morning, we can just follow the support level. If the market changes, we need to pay attention to the resistance near 108500 above

Summary: The market is digesting, long and short are still in the game, the upper pressure level is strong, and the lower support is also effective. The lack of continuity in trading volume makes it difficult to choose the market direction. In the evening, we will continue to pay attention to the performance of indicators and news. In the short term, we will still focus on the rebound of Silk Road in the evening. Pay attention to the space management to avoid sudden pins in the early morning market.

Youmi started to rebound and short Silk Road from the morning today. The big cake received 2797 points and the concubine received 44 points. The effect is not bad for the shock callback, and each round is very solid. The market is changing rapidly, so those who haven't gotten on board should hurry up.

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