Analytics

BTC: Recently It Will Challenge The $7,000 Important Support

The Market pressure point keeps moving down. The short-term bears are very intensive. It may continue a wave of waterfalls to consume market sentiment. Maintain a downward trend.
In the day, it will definitely challenge the $7,000 important support.

In the four-hour level, the current market is once again adjusted within the interval below the middle rail. The boll is slightly open, and it is expected to further open up the downward space after finishing. MACD continues to run in the shape of a dead fork. Attenuation. The KDJ indicator gradually flattened. The RSI hooked down slightly. The short-term downward trend is still the main trend, but the downward strength has slowed down.

In the past few days, you can also see that the market has been in a trend of rising and falling downwards and slowly descending. The more this trend, the more difficult to figure out, because it is hard to know where the bottom is.

In the short term, still pay attention to the resistance of BOLL’s upper rail at $7,300, and focus on the $7,000 below. Once it effectively breaks down, there is still room for downward movement.

Key Points:
Short: $7,260-$7,200
stop loss: $7,250
target: $7,000
If go below $7,000, Entry: $6,800-$6,850

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