According to OKEx quarterly contract data, on March 20, the BTC price rose to a maximum of around 6890 and then stagnated and fell sharply. However, it failed to rise again last night, rushing to 6990 and stagnated. OKEx analyst Charles believes that, in terms of technical form, the 7000 front line belongs to a large double-headed form neckline spanning nearly 10 months, which will inevitably leave a large number of stuck disks in the area. From these two upward and downward movements, it can be determined that the pressure of market funds on the region after the combined force is recognized, at least temporarily.
He also pointed out. Throughout all capital markets, the neckline of this similar pattern has always been difficult to be effectively broken in a short period of time. More often, it can only form an effective break after going through the repeated high-return process, or It is because the rebound has stopped and there has been a deep adjustment again. Therefore, investors are reminded not to blindly chase up when operating, if you want to buy bullish, it is best to wait for the currency price to adjust and stop falling above the key support level. Short-term support is located at the 6450 line, and partial mid-line support is located at the 5650 line. Risk Warning: There are risks in entering the market, and investment should be cautious.