Over the past 24 hours, mainstream currencies have generally been in a doldrums. From yesterday morning to the present, they are basically on a downward trend except for the few currencies they are trying to cover. The repeated but continuous correction of BTC has played an important role in driving market sentiment, while the strong role of BTC in the downward trend has not changed.
BTC
In the past 4 hours, the BTC closed 5 downlines. In addition to the one that has not yet completed the closing, the only remaining upline appeared when the market fell back to the latest round of deep drawdowns. After the support line was split, and it failed to help the market complete the regaining of this important technical reference, the price fell back again after a short test of the key point of 5435, and it quickly went out of a long first drop line and re- Close to the 5100 integer position.
For BTC, the market ’s downward momentum has shown no signs of turning after the recent round of sharp dives. The rapid downward pressure of the 4-hour 50-period moving average has continued, and the anti-high point after the first round of sharp dives has stopped precisely at The key resistance of the anti-half quartile of the recent round of decline is near 5920, and the downtrend is restarted quickly after briefly touching this resistance, which provides a very clear "charge" signal for the decline in the past half week, and The overwhelming decline that has restarted in the past 24 hours has not pushed the market to continue to fall through the existing low support, but the information shown is enough to prove that the story of the recent round of plunge and diving has not been finished, and the second bottom is expected to be only There are timing issues.
For BTC, the lower 4835, the position where the 0.236 golden draw of the previous round of diving was located, will become the last support for the price to once again explore the existing low point, which is near 3850. Once the market quickly falls down through 4835 The second low-cut market is expected to be completed within three 4 hours K-line time, and this low-cut low will become the key to the new wave of market direction selection.
To put it simply, if the market quickly falls to the 4835 line, a new round of ultra-short air pursuit can be carried out. The goal is to see the 3850 line. And if the market can stop falling and stabilize near 4835, it is believed that the market will temporarily stay in the range of 4830-5920 and there will be no effective trading follow-up opportunities in this range. As for the trading opportunities that are expected to have longer holding periods, you will need to wait for the market to test the 3850 low again or rebound to recover 5920 before it will appear.
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