Analysis shows: If the support area near $ 8,500 is effective in the short term, BTC may rebound at the hour level

Yesterday, BTC failed to get enough support near the critical bottom of $ 9,100, and fell to $ 8,500 in just a few hours. It temporarily entered a consolidation trend within the day. OKEx analyst Neo believes that the fall of the $ 9,000 mark to a certain extent means that the current round of rally has ended, but the long lower shadow line formed after the close yesterday also reflects that the bulls still have a certain ability to undertake above the $ 8,500. In view of the fact that the break of the key point has a greater impact on bullish sentiment, the support strength of this position has yet to be tested.

From the perspective of the hourly trend, if the currency price can stand steady at $ 8,500 on the weekend, it may usher in a certain degree of recovery next week. However, the current market is not willing to rebound, and it is likely to fall below the short term and the probability is around $ 8250 Obtained strong support. Since this point was the starting point of the previous round of rise, if the currency price cannot be stopped, it will probably return to $ 7,000.

ETH rebounded stronger than BTC yesterday. After breaking MA (30) at 1 hour level, it is now under pressure from MA (60). As the consolidation space gradually narrows, breakthroughs may occur at any time. Investors can continue to pay attention this week. The support of 215 US dollars is effective. If it is effective or has a certain probability, it will form a short-term double bottom rebound pattern. Otherwise, it will have a certain probability to test 200 US dollars downwards. Although XRP broke MA (60) in the day, but it is blocked at 0.2470 USD. If it falls below 0.2360 or continues to find support around 0.2240, the second resistance level above can focus on 0.2580 USD.