The bears have repeatedly penetrated the entire market, and the rebound space is still small. Is this a compromise or forbearance of the bulls? How to look at it in the future?

Recently, the currency market has shown a trend of high-level fluctuations, especially Bitcoin and Ethereum. Many netizens believe that although the market has a correction in the short term, there is a large room for growth in the long run.

Judging from the current trend, it is very likely to rush up in the afternoon. First, see if it can rebound above 97,500. If it stabilizes, it will hit the 98,000 mark again. Zhiyan believes that the bearish momentum in the morning has disappeared. If it stands firm at the bottom, it is very likely that this will be a bottom, which will slowly pull up the price again. We can wait for the correction in the afternoon before making a layout.

So far, the price of cake has stabilized at around US$97,000, and the price of ether has stabilized at around US$3,700. Both are currently in the support area of ​​the lower track of the Bollinger Band. In the financial market, when the price encounters strong support and fails to be broken, it often triggers a rebound.

The daily K-line showed a false breakout trend. After briefly touching the middle track, it received support near MA30 and rebounded strongly, stabilizing above the middle track again. In the short term, the interval formed by the middle track and MA30 will become an important support area. In the 4H level chart, the market has fallen below the key support of MA60 and the trend line. According to the top and bottom conversion logic, the area near MA60 and the trend line may be transformed into a short-term resistance zone.

Operation suggestions for Monday afternoon (writing time 15:10)

BTC: more near 96700, target near 98500

ETH: more near 3710, target near 3800

Don't hesitate to see the trend, leave professional matters to professionals

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