Analytics

BTC: The General Trend Is Still A Downtrend Recently

BTC has maintained a gentle downward trend yesterday, and in the early hours of the morning, the price has completed the downward break of the key support of $7,200. However, it should be noted that after the market continued to pull out the market, the currency price has not yet completed the downward break of the support near $7,100. The market has repeatedly rebounded after testing the dynamic support several times while $7,100 support is relatively stable.
In the 4-hour chart, you can see that the previous low point MA60 has always been strong support, and it has not been effectively broken. a few hours ago, the MA60 also rebounded in resistance. MACD is getting closer to the 0 axis, and there are signs of entering the golden fork at any time.
KDJ started to flip upward and movement must not be finished yet. The MA10 pressure position is near $7,268. If the price breaks, we can continue to look at $7,336, which is the boll mid-rail position.
As far as the current market is concerned. In addition to 4-hour and 12-hour charts showing signs of drawing back, other K-line charts are not performing well, especially from the day chart. The general trend of the day chart is still a short trend.
Today’s strategy:
1.7250–7280 short. target 7180–7080–6900. stop loss 7440
2.7000–7040 long. target 7100–7300. stop loss 6900
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