Hello everyone, I am Eleven.
When the Fed announced that it would not raise interest rates, Eleven saw that the price of Bitcoin shot up like an arrow, breaking through 35,300 in one fell swoop, and then continued to soar to 35,800. This increase once again shocked Eleven, and it also proved that the price of Bitcoin has strong resilience and intrinsic value.
Over the past period of time, although the price of Bitcoin fluctuated, it did not fall sharply as expected by some analysts. This trend may confuse some participants. But when Bitcoin fell to a low of 34,087, I thought it was likely a buying opportunity. It turned out that this prediction was correct, and the price of Bitcoin then began to slowly rise.
Looking at the above picture, we can see that today's Bitcoin price increased by 2.53% in 24 hours, the 24-hour trading volume was 335,600, and the 24-hour trading amount was 86.861 billion.
Eleven believes that although the weekly breakthrough is usually an exciting signal, participants are often worried about missing out. So we can use the daily trend to help us better understand the current market situation.
The daily line gives a guiding signal, which most likely means that the market is about to enter a long period of consolidation or correction, and even the possibility of a small reversal is not ruled out.
At the same time, it is reminded that a weekly breakthrough does not mean an immediate surge. Breakthroughs have occurred many times in the short term, and a breakthrough K-line may lead to a surge, but it may also enter a continuous sideways trend before continuing to rise. For example, the weekly breakthrough in March was followed by more than 20 sideways K-lines before continuing to rise.
Eleven believes that although the price of Bitcoin is currently in a correction state, it is not easy to conclude that the upward trend has ended.
Although the price of Bitcoin has retreated recently due to the impact of the Fed's interest rate hike meeting, it will take time to test whether the upward trend has ended. I suggest that all friends reasonably diversify their participation portfolios and pay attention to the development of blockchain technology.
If you have any questions, you can ask me directly. As long as it is something I know, I will tell you everything!
