Analytics

BTC: Cannot Break $7,600. Large Possibility Of DECLINE

At present, I believe that everyone is paying attention to the news of Iran and the United States. Commodities and bitcoin have soared for a time. We continue to pay attention to preparing for defense. but it is certain that Will definitely have an impact and will stimulate the market to rise.
Bitcoin also has certain hedging functions, so if contradictions continue to ignite, there will still be a possibility of rising.

As a reminder, the interval of $7,550-$7,850 is the pressure zone in the early stage. After the two previous rises were blocked, they fell below $7,000 points. The impact of this shock is unknown, so it adds a lot of difficulty to the participation. More patience.

From the day chart, the currency price currently maintains the upper-orbit area in the Bollinger Bands . The 5-day moving average and the 10th coincide with 7280 to form lower support. The chart MACD keeps running above the zero axis. Upward attitude, but there is currently suppression at $7,600 above the daily line, so it is still cautious to long more.

From the 4 yours chart, The current trend is at a high level, and the long-term offensive has been maintained. In terms of indicators, the MACD volume increases in the direction of the zero axis, the fast and slow lines also keep running upwards, and the RSI increases volume downwards at the 60 level. There may be a callback in the short term.

key points:

Short: $7,600-$7,550 Target $7,500-$7,400-$7,300 Stop loss above $7,700
Entry: $7,400-$7,350 Target $7,450-$7,550 stop loss $7,250

Welcome to Bexplus! Subscribe us for the latest analysis on the cryptocurrency market.
Join us:
http://www.bexplus.com
Telegram:
https://t.me/bexplusexchange
Facebook:
https://www.facebook.com/bexplusglobal/
Twitter:
https://twitter.com/BexplusExchange