Analytics

BTC: Oversold Then Rebound But It Will Keep Going DOWN!

BTC: Oversold Then Rebound

The market again bottomed out this early morning to refresh the previous low to $6,610. From the trend chart in November, it has always been a downtrend, and the strength of the rebound is very weak. During the fallings, it was trying to bounce a few times, but the profit is too little or sometimes just fall directly without any opportunity.
There is currently not much technical analysis available. From the 4 hours chart, this wave of decline this morning will pull the bonded MACD open under the zero track to form a dead fork. The market remains in the lower run of the Bollinger Band. The amount of MACD can continue to fall below, the next step will rebound, the current is not suitable for short-track in the short term, the bullish trend is greater than the bearish trend .1 hour MCDA continues to sag under the 0 axis, KDJ forms a buy signal.
$7,000 resistance, the pressure is still strong.
Key points:
Short: $6,900-$6,850
Take profit: $6,400-$6,450
Stop loss: $7,000
Not recommend buy/long on the spot. Manage your risk control, set a stop loss and profit point.
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