Morning analysis on July 16: BTC shock consolidation, mainstream currency is difficult to bottom out

Recently, the trend of BTC continued to fall. It fell to the lowest at 9856 yesterday. It once again approached the bottom support area of ​​the previous callback. After hitting the bottom, it entered the rebound stage. The price also successfully stood above 10000, which triggered the strengthening of the bullish sentiment and further broke the upward trend. Currently oscillating around 10900;

At present, there is already a posture of forming M form on the K-line chart, but the current trend is reversed, and the trend has formed a W pattern. Once it breaks through 11,000 in the short term, the first stage is near completion, and if the price can successfully reach 12000. In the -12500 area, the bottom is formed, the market is confirmed, and the long market breakout is about to begin;

On the BTC daily chart, the Bollinger Bands contracted inward, and the 5-day moving average crossed the 10-day and 30-day moving averages. The trend is still further downward. At this stage, it is a rising trend, but the trend has been blocked on the 5th. The average is 10950, then there is no strong kinetic energy to join this resistance zone, the downward trend continues to maintain, but this wave of rebound still gives a lot of help, the short-term trend will remain above 10000, but if empty The amount can be enhanced. If the trend falls below 10,000, it may break the low point and continue downward. Then we must pay attention to the key points of 9500, effectively break this price, the downward trend is enhanced, and the short market continues;

In the figure, the MACD maintains a downward-discharge posture. STOCH forms a golden cross on the 20 horizontal line. There is a sign of reversal, but the slow line is still going down, which may cause the trend to stick. The RSI keeps going up, then the BTC is a The upward trend of the shock, but the performance on the indicator is not strong, and there are multiple resistances in the upward process. The follow-up process still needs to prevent the callback. The first stage is the callback triggered by the long-term change that may be triggered when the breakthrough is not 11000. The stage is a callback triggered by the breakthrough of 11,000 after the 11,000 attack. The main reason is that the upside may encounter the main force of the empty side, leading to the bullish defect, and further triggering the effect of the callback. If it can break through the two key resistances, the market will rise. Chen Chuchu suggested that the callback should be based on more, with the high position being supplemented by the high position; the more than 10400-10500 follow up to see 11000, the breakthrough will hold 11500, and the empty order will follow up in the 10900-11000 area. 11400-11500 second area follow-up, with good stop loss in operation, control the risk of position, and make a reasonable order habit, and continue to enter the profit stage;

ETH Ethereum once fell to 200 areas, the daily Bollinger Bands opened downwards, and yesterday received a long lower shadow line. At this stage, the trend is still below the Bollinger Band, so the price will continue to decline. l, until entering the shock phase, there will be a chance to rebound, the indicators can flow out, the bullish sentiment is low, the follow-up is still a downward trend, Chen Chuchu recommended empty orders, if it can break through to 233 US dollars, there are May form a good wave of gains, resistance 250, support 200;

XRP Ruibo recently fell below the bottom support of 0.3 and continued to run along the lower rail of Bollinger. The current Bollinger Band has a tendency to level off, and the 5-day moving average has also begun to level off. The amount of energy flowing out gradually slows down, and the follow-up trend can continue to stand at 0.3. This area, then it is expected to return to the stage of rebound, XRP will continue to form a trend of maintaining shock adjustment, and the operating strategy is mainly low-altitude;

After LTC Wright fell below 100, the trend rose again downwards. The current trend fluctuated around 90, and the lowest fell to 84.5. The daily-lined Bollinger Bands opened downwards, and the moving averages were arranged in a short position. There was still a strong oppression on the top. Then the trend may continue to fall, pay attention to the 85-90 area, once broken, then the trend of the rubber will also rise again, into the endless callback; support 80, resistance 100;

BCH showed an oversold trend yesterday. Although the current trend has rebounded back, it also shows that the bottom is empty. Once the key support is broken, it is easy to have an oversold trend. Therefore, we must listen to the author's suggestion and bring a stop loss or batch. After the profit is opened, the company will quickly leave the market; the current effective support will look at 300 first. Once it breaks, the oversold trend will likely appear again. The operation strategy is mainly empty, and more than one is supplemented;

EOS's current decline is one of the less common currencies in the mainstream currency. The current trend is still a suppressed situation. The bottom rebound yesterday also makes the current trend into a stalemate. If it can break through the 4.5 line, the rebound trend will remain; The amount of energy is still in the outflow posture, and the long-sound mood begins to heat up, so the operation is recommended to be empty, and more than one is supplemented; support 4.0, resistance 5.0;

From the pie chart, it is seen that there is a possibility of forming a double bottom. However, the current major decline in the mainstream currency and the situation of the pin, the surface bulls have slowly lost their optimism to abandon the mainstream currency. The current pancake trend remains at 10,000. Above, it is also a long-term expectation of the BTC trend. In the short-term, it can be defensive around 10000. Once the position is broken, the bottom low point may not be guaranteed. You can focus on the key point of 9500, relying on defense to do it; when holding this area, then We can follow up with the direct access to 11000; pay attention to controlling the risk of the position in the operation, reasonable safe position plan, achieve effective income, safe operation mode, refuse to lose money; promptly recommend the strategy to pay attention to Chen Chuchu;

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Is the Fed a resolution for Bitcoin?

The Federal Reserve announced the interest rate decision, announced a 25 basis point rate cut, and the interest rate ...

Market

Cardano’s Price: Falling Like a Tripped Bull

ADA's value drops as traders take profit amid steep rise and in anticipation of Federal Reserve's rate decision.

Bitcoin

Bitcoin’s Path to $200,000: Expert Analyst Predicts Unprecedented Surge Ahead of the Halving Event

According to a crypto analyst, Bitcoin's price is predicted to reach record-breaking levels in anticipation of the sc...

Market

🚀 Bitcoin Prices Could Soar to $112,000 as ETF Buying Pressure Mounts! 📈💰

The recently launched spot bitcoin ETFs have been highly successful, accumulating over 192,000 bitcoins in holdings a...

Market

Javier Milei, Argentina's Bitcoin Crusader, Triumphs in Presidential Election

In a landslide victory, Javier Milei defeated Sergio Massa in Argentina's presidential election by a whopping 2 milli...

Blockchain

Perspective | Why isn't Bitcoin a safe-haven asset?

Source: Carbon chain value Editor: Carbon Chain Value Editorial Department Is Bitcoin known as "digital gold&quo...