After the monthly K update for Bitcoin this month, Bitcoin has been fluctuating and adjusting due to market news. The trend here is basically consistent with my view last month, leaning towards a correction.
From the current monthly K level, the price is relying on the MA10 for oscillating operations. The MA5 daily moving average has started to turn downwards, putting pressure on the price. The MACD bullish sentiment continues to shrink, and the KDJ three lines continue to trend downward, indicating that the current major directional trend is not optimistic. The key support for Bitcoin at the monthly K level is between 78000-73500. If Bitcoin strongly breaks below the strong support at 73500, it can basically confirm the start of a bear market, and the next two years will continue to adjust at low levels, with the price returning to 50000 being just a matter of time.
The weekly K level has just been updated today. Currently, the overall Bollinger Bands are beginning to narrow, with the price running near the lower band. The MA5 and 10-day moving averages are resonating downwards on the price, but the MA30 daily moving average is still maintaining an upward sentiment. From the indicators, the current lower Bollinger Band is still showing an upward trend, and with a gap of over ten thousand points between the price and the MA5 daily moving average, the indicators are severely oversold. It is expected that the trend this week will be a correction followed by a rebound and continued downward sentiment.
At the daily line level, there are five consecutive bearish candles showing a downward trend. All indicators resonate downwards, intensifying the market's one-sided trend. The current indicators are severely oversold, and the price is about to touch the monthly K MA10 moving average support. Therefore, the short-term bearish strategy still needs to maintain a focus on high shorts. The upper resistance reference is at the 84000-89000 level.
On the 4-hour line, there is a large bearish candle, with the price falling close to a space of 5000 points. From the indicators, bears still dominate. Combining with the hourly line, the price is expected to touch the key short-term support at 78000 again. Therefore, for the early morning trend, my personal view is to consider a short-term buy near the support (the market has been volatile recently, so set stop losses to avoid spikes). Maintain a swing trading idea.
Operation idea: Bitcoin: Buy at 78500-77500 Target: 82000-83500 Stop loss at 77000
Ethereum's recent performance has been quite poor, as the trading volume decreases. There is some support around 1900 in the short term, and the short-term trend basically follows Bitcoin, so the outlook is consistent, and a short-term buy idea can be taken.
Operation suggestion: Ethereum: Buy at 1980-1950 Target: 2050-2130 Stop loss at 1925
For the short term, let's look here first, and updates will continue later.#BBVA获批提供BTC及ETH交易 #加密市场回调 
