Analysis: BTC pays close attention to the $ 9,500 ~ $ 10050 area in the short term, and needs to guard against the risks caused by sharp fluctuations

According to the OKEx spot display, as of the beginning of the European session, BTC temporarily reported $ 9696.1 (-1.70%). Although BTC briefly broke through the resistance of $ 9,850 over the weekend, it was immediately put under pressure from a large number of selling around $ 10,000, and the currency price quickly fell back to around $ 9,700.

OKEx analyst Neo believes that the bullish behavior of the bulls on the weekend is obviously not enough to start the next wave of BTC's rise. The rapid decline a few hours ago confirms that the previous profitable funds are still looking for opportunities to liquidate and leave the market. There is a high probability that there will be a pattern of attracting more and shorting. This form is a reflection of the main fund's profit-taking and closing behavior, and it is also to regain the chips in the hands of retail investors. From the current trend, the support at the bottom of $ 9,500 is still valid. If the currency price stabilizes near this point, or a good time to enter. The upper resistance is near 10050 USD. If the currency price is continuously blocked near this point, you need to be alert to the risk of falling.