Bitcoin Is Trading Above $39K, Which Shows A Trend Of Recovery But Is Still Looking For A Solid Support

 2021-06-03 08:27:23

In the daily chart, the K line closed in the positive yesterday, and the market broke through the $38,000 mark to its high point of 38,224 points, an increase of 5%. Most of the funds provided by this wave of rise came from China. No stricter supervision has been implemented. In short, the absence of a ban on mining has allowed the panic in the market to dissipate. For fear of missing the bull market in the second half of the journey, investors chose to enter the market quickly, making yesterday's currency price relative to the previous one. There was a good increase in a few days.

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Back to today’s market, it can be seen from the four-hour level chart that the Bollinger Band is open and the market is running in the upper track area of the Bollinger Band, which is now located at $39,100; the current market breaks through the upper track of the Bollinger Band and is rising; MACD The fast and slow lines are running near the zero axis, showing a golden cross state; while the RSI has maintained an upward and heavy-volume attitude; this shows that the short-term trend will rise. If the currency price cannot be maintained above $39,000, the currency price may retreat and continue to look for a support level. According to the recent currency price performance, the support level is above $36,000.

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DISCLAIMER: The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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