Analytics

BTC: The Bear Pressure Is Heavy Recently

Yesterday BTC started to rise upwards, until today the market successfully stepped on the $7,437, Then the market was weak and began to pull back. In recent days, the market has been bearish , but I suggested in my operation that when the market looks at one direction, the dealer will not let it go so easily.

On the day chart, the narrow fluctuations in the previous two days have basically remained in the same interval, and the market has just touched the high level in the early morning, and then it has fallen again. It returns to the fluctuation around $7,200, which shows that the bear pressure is heavy.

On the four-hour level chart, the market is running in the middle and lower orbit of the Bollinger Bands , and it is now running at $7,205.
All moving averages are running smoothly, and the market has fallen below the five-day moving average, and the MACD fast and slow lines are sticking together near the zero axis. RSI and Stoch are both running smoothly.

Key points:

Short: $7,280-$7,350 Target: $7,150-$7,100-$7,050 Stop loss: $7,450. Long: $7,050-$7,100 Target: $7,200-$7,300 Stop loss: $6,950.

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