In the cryptocurrency secondary market, Bitcoin (Big Pie) experienced unusual fluctuations again yesterday. This malicious market trend shook many investors out of their positions and triggered contract liquidations. This kind of trick is too common; I'm tired of seeing it. On the first trading day of this week, Bitcoin's price showed a downward trend. From a weekly perspective, the current lower shadow line is unlikely to form strong support by next week's close, making it difficult to lay the foundation for subsequent upward trends.
From a daily analysis, Bitcoin's K-line did not completely close in the positive yesterday, indicating that the bullish momentum is somewhat lacking. Next, we need to pay close attention to the MACD and KDJ indicators below, to see if the golden cross can continue to develop.
The downward trend line above Bitcoin still constitutes a resistance level, which is a key observation point. If Bitcoin can break through this resistance level, it is likely to initiate a new round of upward momentum; conversely, if the breakout fails, the market is likely to fall into panic selling again. I really don’t know if we can safely celebrate the New Year this year. In the secondary market, I am basically in a cash position, only buying a small amount of pingo and flock on dips, while also investing some funds into the primary chain.
