The market reacted to the message and the trend is still downward.

The internal and external environment of the market has not improved much. We have seen some unfavorable news about the currency circle recently, but the market has not fallen sharply, or it is running at its own pace, slowly falling, such a trend. If there is a possibility, the Zhongyang line will suddenly appear, but don't think that this will be a signal of turning momentum. The big probability of this trend is a lure trend, because the current short-term moving averages are all short-selling trends, not one. The root-yang line can turn, and if there is no accident, the market is still a trend of gradual exploration. The operation is mainly based on caution.

BTC

From the weekly level, BTC has already penetrated half of the previous big Yangxian line, and has actually fallen below the 5-week line. The repeated yin and yang intersecting moves are very large for the long-term consumption. I am afraid that the trend is the same as that from June to September. After the volume has shrunk to a certain extent, I am afraid that it will start to find the bottom again. From the daily level, it is not very optimistic. The short-term averages have formed short positions. Form a certain pressure on the price of the currency, pay attention to the support strength around 8300, the trend of the yin falls is the most grueling, I still recommend that everyone participate cautiously, keep a wait-and-see, and wait for the trend to make a decision.

ETH

The view on ETH has not changed. It has been oscillating under the neckline. It has repeatedly tested the pressure of the neckline of $190. Whether it can break through the key depends on the volume and performance of the BTC. Without independent market, the probability is to follow the market. The pressure at the bottom of the target is relatively large. The current transaction volume is not enough to form an effective breakthrough. If the delay cannot be broken, the market is far from the recognition of the target. If it is not as good as BTC, if the target is to look back near 150 dollars, be careful, the three touches will break, the three touches will break, and the individual thinks that the BTC is more likely to go downwards, and the target may follow.

The author's point of view is only used for learning communication, not as an investment recommendation, and does not constitute an investment basis!

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

Reinventing Digital Payments: The Birth of UDPN

In a groundbreaking move, SC Ventures and Deutsche Bank have achieved CBDC and stablecoin interoperability through UDPN.

Blockchain

Root Protocol Raises $10 Million in Seed Rounds, Paving the Way for a Unified Web3 Experience

Root Protocol, a rising star in the field of blockchain technology, has successfully raised $10 million to enhance di...

Market

Cboe Digital’s Groundbreaking Plan to Shake Up the Crypto World

Exciting news for all fashion-forward individuals Cboe Digital has confirmed it will introduce Bitcoin and Ethereum m...

Market

Decentraland Unveils Ambitious Plans for 2024: A Powerful Desktop Client and Expansion Strategy

The latest announcement from Decentraland reveals their ambitious plan to launch a highly advanced Desktop Client by ...

Bitcoin

Tesla's Crypto Clout Q3 2023 Earnings Report Reveals Bitcoin Still in the Driver's Seat

Tesla has refrained from using its significant Bitcoin (BTC) reserves for five consecutive quarters as an electric ve...

Market

TWT Token Skyrockets as it Rides the Binance Futures Wave

Fashionista, the price of Trust Wallet Token (TWT) has experienced a significant increase of 18% in just one week, ma...