8.3 Afternoon Analysis
From a technical perspective, EMA30 has crossed down through EMA60 forming a death cross, this signal further confirms the continuity of the momentum. In terms of correlation among mainstream cryptocurrencies, all major coins are weakening in sync, and no independent bullish signs have yet appeared.
From the perspective of trading volume, the downward process over the weekend has been accompanied by gradually increasing volume from the suburbs, while the countertrend phase shows a clear contraction characteristic, indicating that the current countertrend momentum is insufficient and the downward trend still dominates.
Suggestion
Bitcoin: Around 113700-114300, aim first for 112000, and if broken, target 111000.
Altcoin: Around 3450-3480, aim first for 3320, and if broken, target around 3280.
