Analytics

BTC: In The Short Term, Pay Attention To The $7,150

So bless all of you Good Luck in the New Year 2020!

The market has fluctuated repeatedly over the past two days, and there are winners and losers in both long and short positions, but for now, the shorts are still slightly stronger. The market is still in a weak downward trend, and the rebound is weak. It is expected that the market will continue to challenge the support near $7,150.

On the 4-hour chart, the MA10 began to be flatted with the shock, the downtrend became stronger. the volume may break high but it will continue to be insufficient to rise.
The MACD indicator continued upward, and the RSI indicator gradually flattened at the 50 levels. Overall, the follow-up trend still has the intention of continuing to rise in the short term, but it is likely to enter the trend of shocks then drop due to the strong suppression of the bears.

The $7,000 support will be the important line of defense and will continue to run towards $6,500 after breaking the support.

Key points:
Long: $7,150-$7,100
Profit: $7,370-$7,560
Stop loss: $7,000

Short: $7,350-$7,3100
Profit: $7,100-$7,50
Stop loss: $7,450

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