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Bitcoin is still running above the 5-day line. From the perspective of the bulls' strength, there is obviously no sign of counterattack. Therefore, the rebound after the callback on the 5-day line is a weak rebound. The probability of the position directly reversing the new high has become smaller and smaller. Judging from today's slumping situation, the shorts have no direct motives. Therefore, the two days may be at 5300-5400, and they will continue to fall. In short, even if there is a small rebound, it is not a chance to bottom out. Already started, only temporarily reduce the position, not blindly increase the position.
Followed by the pie, the short-term will also fluctuate in the support position, but after the shock, continue to decline.
Continue to be weak, but from the perspective of today's decline, the short-term should be supported, the market rebounded slightly, and the pressure was on the 5th line.
The rebound is weak, and there is still room for decline after the shock.
Yesterday's resilience, today took the lead in rebounding, the rebound is OK, it is a strong currency in the mainstream, but every time ETC rises in a weak market, the market is not very optimistic, so it is still risk-based.
Continue to lead the decline, the continued decline of the old leader indicates that the market will continue to be weak.
2.2 strong support, can not hold the current round of the market is over.
Bottom rebound, the amount can be amplified again, indicating that the ADA's long position has not given up, but do not easily bottom out before reaching the 5-day line, the downward trend has not changed.
Today, the overall market wait-and-see mood is strong. No matter whether it is the mainstream currency or the small currency of platform currency, there is no profit-making effect. After the market crash, there is no effective fund replenishment in the market, indicating that the overall risk in the future is still large, and the trend is not optimistic. In the context of the continued accelerated issuance of IEOs, we should continue to maintain awe in the market, and positions should continue to be controlled at low positions, waiting for the market to give us a chance to rebound.
Author: digital currency trend madman
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Disclaimer: This article market analysis is for reference only and does not constitute any investment advice or advice. Risk control, thank you.