The market is nearing the "explosion" edge. Will Bitcoin easily return to $ 8,000?

Source of this article: Scallion Blockchain , the original title "Suppressive emotions are on the verge of erupting half a month ago. Will the screenplay repeat itself?" "With deletions

The dull performance of mainstream currencies has changed in the early morning today, but most currencies have not been able to shake off the narrow range of the recent sideways shocks. During the short-term rapid rise, currencies like XRP and BNB have indeed increased to nearly 8% or even 10% or more in nearly 24 hours, but most currencies represented by BTC have only gained 2% in the same period. Right or left, this kind of market performance is hardly a valid "breaking signal", and the tangled situation in the first few trading days of this week continues.


Although the key dynamic support repeatedly emphasized by the short-term 44-hour 50-period moving average of BTC is rising over time, and it has now officially approached the edge of the box where the market shock this week is near 6385, but the moving average is The price itself, especially the special stage that is weak in this narrow range and has never been able to effectively reach the edge of the box for at least three days, the actual effect is very limited, so it can only be considered that the market has maintained a steady rise The attitude of running above the 4-hour 50-period moving average means that the overall short-term market sentiment is strong, but the moving average cannot temporarily “force” the market to emerge from a truly strong breakout performance.

Although BTC did receive five consecutive small Yang lines in the 4-hour graphic as of the time of publication, two of the five Yang lines are more classic than the Yang cross, and the remaining three Yang lines have a very limited physical length. Therefore, it seems that a long wave of continuous rise has not yet pushed the currency to really reach the edge of the small interval of 6385-7000 repeatedly mentioned in the previous trading session. Therefore, the current market actually does not have Get rid of the situation waiting for this box to break.

For BTC, it has been a long time since mid to early March that we have not seen the recent horizontal oscillations in such a narrow interval, and the last time a similar situation occurred, we need to go back to the wave from March 9 to March 12. It was sideways, and this time the market ended with a plunge defined as the “March 12th Incident”. Considering that the recent wave of sideways has exceeded the performance of half a month ago, it is reasonable to believe that the market has reached the edge of a "blast". Once the edge of the box where the sideways is damaged, the sideways process continues. The depressed market sentiment is likely to explode in a concentrated manner, and the market is expected to be another round of unilateral markets with a very strong intensity.

The more interesting point is that during the previous sideways run, BTC just happened to run under a steady downward pressure of the 4-hour 50-period moving average. This time, the situation is exactly the opposite. Does this mean that it is likely that we are waiting for us? Is it a long-lost jump? Of course, this guess is of limited significance and cannot be used as an effective trading guideline. However, if the market can reconfirm that the lower edge of the box and the 6385 support corresponding to the key moving average overlap are valid and quickly break through the 7000 integer line, then open up the space further and It will not be difficult to return to the 8000.