Analytics

BTC: The Bulls Are Weak And Do Short In The Short Term

Yesterday, I recommended a short strategy. Congratulations to my friends who kept up with this wave of operations and gained a lot.
today the price dropped all the way from $7,149 to $6945. After maintaining a 6-hour interval shock, it descended to the $6,871. Then it moved up to $7,962. The current price is $6,949.
According to the current market trend, resistance and support are not critical in this round of declines, and it is not even necessary to use them as a reference basis. The movement basically came from its own trend. The expectations given by the technical structure and market sentiment have led the Bears to dominate.

At present, the currency price is running in the middle and lower rail area on the Bollinger band and the opening of the Bollinger Band extends downward. The moving average system is arranged in a short position, and the short position still prevails. The lower rail of the Bollinger Band is formed at $6,800 Support.

At the 4-hour level, the price is now in the lower band of the Bollinger Bands . The support of the first-line standard is around $7,220. The price has risen to $7,260 and rebounded immediately, indicating that the resistance above is still very strong. The first line of the track is in line with the MA5 or the MA10. Both show that the heads are upward. After a wave of rising, all indicators have been bent downward and hooked upward.

Key Points
Long: $7,120-$7,080
Target: $7,200-$7,250
Stop loss: $7,000

Short: $7,350-$7,400
Target: $7,260-$7,220
Stop loss: $7,460

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