Analysis: If you can stand firm at $ 9,500 in the day, BTC may have the opportunity to test the $ 9700 to $ 9850 resistance zone on the weekend

According to the OKEx spot display, as of the start of the European session, BTC temporarily reported at $ 9682.4 (1.16%). Supported by the US $ 9200 ~ 9500 area, BTC temporarily stabilized at US $ 9500. However, the early rebound was weak and failed to effectively break the US $ 9700 resistance level.

OKEx analyst Neo believes that since BTC pulled back from $ 10,500, profit margins from active exits have continued to increase, and long positions above $ 9,500 have gradually closed positions. Most of the $ 9,200 to $ 9,500 opened positions below $ 9,000. The bullish exit area, so the profitable funds in the range of $ 9,500 to $ 10,500 have gradually left the market in the recent correction. If there is no heavy decline this weekend, it may mean that the correction is coming to an end. However, investors need to pay attention to the fact that the bulls still need a few days to attract funds. Therefore, the probability of a daily-level rebound in the short term is low. Weekend trends may be in a narrow range of 9500 ~ 9850 US dollars. Risks caused by severe fluctuations.

ETH received strong support near 245 US dollars, and was also subject to lower-level trading volume, and the rebound was under pressure at the strong resistance of 264 US dollars. If it is not possible to break through and stand firm in the day, the probability will continue to be sorted out on weekends. Investors need to be alert for short-term false breakout patterns. It is recommended to use key points as a reference and wait and see. XRP has strong support at $ 0.2670 to stop falling and rebound. If it can stand at $ 0.2730 in the day, the probability of continued rebound in the market is higher. The first effective resistance level can directly focus on $ 0.2885, failing the test or continuing the low shock market.