Real-time market: BTC is forming at the bottom of 4 hours, and the rebound demand appears

CSI100 index

As of 16:00 Beijing time on June 6, 2019, the CSI100 index was 846.4 points, up 1.17% in 24h. Of the constituent coins, 77 rose and 23 fell.

The index triggered a small rebound after falling below the previous platform support level and is still below the platform position. The 4-hour RSI and MACD both indicate that there is a need to continue to rebound. It depends on the rebound in these two days. If it is unable to stand above 850 points in the short term, it may face further retracement.

Note: CSI100 is the “Shanghai Composite Index” in the CSI index series. The sample consists of the top 100 certificates of scale and liquidity. The market value coverage rate is 96%, reflecting the overall trend of the market.

BTC

In yesterday's article, my personal point of view is that the market has gradually been dominated by short positions, and if it falls below 7700, it will continue to bottom out. It is a common strategy for many contract players to open the gap or break the support level. In this case, there may be a rebound in the short-term.

Last night, BTC fell below 7700 and bottomed out at 7570, and then quickly triggered a rebound. In the early hours of the morning, the highest rebounded to around 7910, then fell to 7600 again, and rebounded to above 7800 in the morning. This up and down fluctuations may have re-harvested a lot of high-leverage contract players.

The current situation of BTC is still relatively embarrassing. 8000 is the platform position of the previous period. If it cannot be recovered in the short term, market confidence will be further weakened and prices will continue to retrace.

From the 4-hour line, this wave of killing is very similar to the BTC drop of 7000 from 8000 on May 17. After several consecutive 4 hours of Yinxian down, the bottom has been tested many times. Currently, a convergent triangular state is being formed, and the direction will be selected very quickly. The 4-hour MACD indicator shows bullishness. From the technical indicators, there is still a rebound demand. .

In addition, it is worth noting that in this retracement, the mainstream currency is passively falling, and the decline is not very large. It can be seen that the main players of each currency do not want to leave the market, indicating that the overall market is still divided.

For example, the uptrend line of the LTC daily chart is still fairly well-preserved, not at all like a slap in the face. However, the market will ultimately have to look at the will of the BTC main force. If the BTC falls below 7500 again, then the LTC will certainly lose the MA 30 ($98) and start to accelerate. Overall, the broader market is still relatively dangerous, it is recommended that the position is below 50%.

On the Bitfinex platform, the BTC long position is 19209, the short position is 18140, and the long-short ratio remains at around 1. The overall decline in BTC's overall trend is expected to be there, but whether it will take a rebound and then continue to fall, the situation is difficult to judge, the contract risk is still very high, please pay attention to the wind control.

Trend strategy: Focus on 7700 support strength. If it falls below 7700, the 4-hour convergence triangle will go bad, and BTC will go to 7300-7500. If the 7900 can be recovered, a 4-hour bottom structure will be formed, and a wave will rebound to the vicinity of the 61.8% Fibonacci retracement line (8168). The general trend of bullish bullishness is to regain stability above 8200. If it can't break through 8200, even if it rebounds above 8000, it will not be able to maintain the price, and the position will pay attention to rebound and lighten up.