Yesterday, the market fell rapidly, reaching the Fibonacci 0.5 position of this stage. Earlier, it was mentioned that the overall structure tends to be bullish. In the past few days, it has been oscillating below the middle track of the Bollinger Bands, entering a key turning point. From the perspective of the market, there is still room for retracement and accumulation of power below. The subsequent market is more inclined to fall first to test the bottom, and complete the accumulation of power for a pullback.
Bitcoin
The overall price of Bitcoin is relatively stable, and the market fluctuations are moving around expectations. The top and bottom transformation is completed above 26,000, and the subsequent market cannot quickly recover with large volume. After the obvious sharp drop, the willingness of buyers to intervene is not strong. At present, the price of the currency is still below 26,000, and the short position is obviously dominant.
Therefore, the operation continues to rebound shorting. It is recommended to choose 25800 to enter the first position and 26000 to cover the position. Stop loss 26400, looking at the target around 25400
Ethereum
Ethereum broke through the daily MA100 moving average support yesterday and entered the previous triangle range again. The lowest point was also a pause near 1712. Judging from the current position, it is at the top of the triangle range. If the market cannot quickly get out of the triangle range, the probability of a downward trend is relatively high.
Therefore, the operation continues the trend of the market, waits for the rebound to end, and then enters the market from a high altitude. Pay attention to the pressure break near 1780.
It is recommended to enter short orders near 1780 and cover positions at 1800. Stop loss at 1820. The target is 1730-1710.
To sum up, these are just my personal opinions. I would like to remind you to pay attention to risk control. If you are lost, please pay attention and consult me at any time! #BTC #ETH
