The performance of Bitcoin can reflect the overall mood of the market.
Bitcoin fell, other currencies plunged, bitcoin stabilized, and other currencies fell. This is a testament to what I emphasized in the past week and the trend has reversed.
It is now more focused to continue to make money in this market.
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A break below the MA7 moving average reflects the recent decline in the price of the currency, and once the price falls below the MA30, the trend is reversed. You can find that in addition to Bitcoin, other mainstream currency prices have fallen below the MA30, so the last half of the month is mainly down, short selling will be the main means of profit. The opportunity for the spot will be reduced, mainly to grab the oversold.
Bitcoin will not continue to attack, so falling below the MA30 is also a high probability, to prevent risks. After all, Bitcoin has fallen less recently. Once the funds have fled, the main force will be out of the game, and retail investors may panic.
The following analysis data are from Huobi
The cross-discrimination method of MA7 and MA30 of Japan K: You can observe the trend of currency price after Bitcoin Day K, MA7 and MA30 meet each time. Once the MA7 punctures the MA30 upwards, then the next time it will run above the MA30. The opposite is true.
Nowadays, MA7 and MA30 have been more than 75 days since the last meeting. This is a relatively rare situation. Therefore, the big probability of the market is to adjust the trend to reverse the decline.
But you can't think that Bitcoin will return to $4,000 or even $3,000. Because Bitcoin has many fans, the number of people holding Bitcoin is much higher than other currencies, so the decline adjustment will not be large. In the near future, we will observe the support of the $5,000 first-line, and we will make further plans.
Operation is still on the sidelines, because Bitcoin is a big-capital currency, and it is more practical to use the weather vane than the target of the transaction. Once Bitcoin falls, other currencies are plunging, so in addition to the long- held believers, the higher the amount should be now.
Japanese K's MA7 and MA30 cross-discrimination: Litecoin has risen long enough, so MA7 has completely self-certified short-selling trend when it breaks the MA30. Since the previous increase was too large, after the short-term repair was oversold, it could continue to fall.
A decline does not mean that there is no profit opportunity. You can try to short, and the short position is equivalent to the low position. It is too late to get on the train.
70 dollars will be the rebound resistance of these two days, more than 70 dollars is a valuable short space.
Can still fall, from the 22 US dollars to 98 US dollars in the middle of the 76 US dollars profit, 50% have to retrace, temporarily see 60 to 64 US dollars.
Japanese K's MA7 and MA30 cross-discrimination method: MA7 pierces the MA30, then the medium-term is based on adjustment. However, due to the small increase in the previous period, I don't think there is much room for decline, nor can I arbitrarily short. If you can return to $140, it will be a very good long-term buy-in.
ETH/BTC has capital injections and there are obvious signs of rebound .
However, other mainstream currencies are dragging their feet, and the performance of Ethereum needs to continue until the adjustment. For the short-term, pay attention to the support of 150 dollars.
It is also not recommended to buy or sell Ethereum in operation, and you need to wait patiently for opportunities. Like Bitcoin, the space in Ethereum is obviously small.
Japan K's MA7 and MA30 cross-discrimination: the previous period of increase is too large, once the MA7 punctures the MA30, then the downtrend will not be repaired in the short term. Therefore, we still think that the trend has reversed, and everyone should pay more attention.
The trend has been confirmed to be reversed a few days ago, so now the spot still holds the need to rallied to lighten up.
In terms of futures, regardless of the long-term or short-term, the rebound must be brave and short. The current spot rebound high is between 4.6 US dollars and 4.7 US dollars. To this position, you can directly short, the higher the more empty.
Need to pay attention, short should be done in batches. In this form of oversold repair, in order to reduce the weight of the short car, the main force may violently pull up a burst of retail shorts, and then continue to kneel down.
Bitcoin Cash BCH:
Japanese K's MA7 and MA30 cross-discrimination: MA7 punctures the MA30 downwards, and the short trend is undoubted.
After mentioning many days, asking for short, and fulfilling the prophecy, Bitcoin cash is very weak. At present, the price is in the vacuum zone of support and resistance, and the fluctuation will be very large. If there is a big rebound, it will be short.
At present, the short space is above 240 US dollars, and the position is reserved. The higher the space, the more you need to be afraid.
Follow the strong and bully the weak. Don't go against the trend, before the bottom feature does not appear, any rebounding behavior is risky.
Ripple XRP :
It can't go up and fall, and it doesn't match the style of other mainstream currencies. Many long-space discriminants will fail on Ruibo.
The $0.3 line is an important long-term cut-off point. If it falls below $0.28, it will be unconditionally stopped.
If you want to enter the market, you can wait for it, don't worry.
Platform currency HT, OKB, BNB:
BNB has head signs, holding should be lighten up, HT and OKB have profitable pockets. The environment is not healthy, and the platform currency does not have the ability to stand out from the crowd and avoid risks.
Everyone should continue to learn in the operation and improve their cognitive ability and feeling ability on the disk. Pay more attention to investment risks, properly participate in transactions within your controllable scope, and be responsible for your own transactions.
Author: Block pig
This article represents only the author's personal opinion and does not represent Babbitt's investment advice.
The currency market is risky and requires caution when entering the market.