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Good evening everyone, I am your Da Bin teacher.
The main selling volume of BTC in the past 12 hours reached $270 million, far exceeding the buying volume of $143 million, with a net outflow of $127 million and a buy to sell ratio of 1: 1.88. The main selling intention is strong. Among them, the Binance contract sold a large order of up to $35.97 million at 23:42 last night, directly suppressing the price rebound. The current 2-hour cycle K-line has shown an upward hanging line pattern, and the RSI has fallen below the 50 line downward, further verifying the pressure of short-term correction. The main trend resonates with the technical form, and the downward signal is clear.
From a technical perspective, Ethereum has broken through the upward trend pressure above the trend pressure and has risen to around 1870. The parallel pressure is around 1750, and the central position of the large-scale rebound is around 2200
BTC Trend Analysis and Opinion: During the past full five week trading period, there has been a second confirmation of support for the 75000 level in the Big Dipper. Based on last week's performance, this second confirmation is valid. The price test reached a historical high of around 74000 in March 2024, At the same time, after testing the three moving averages of 50ma and the uptrend line, strong bullish buying was obtained, and the intraday rebound from 74450 to a peak of 86100, ultimately closing around 83700. A group of weekly level bullish swallowing patterns were also presented: the current market price is above 84450, with the first strong resistance of 89000-90000: the recent first support of 75000: if the resistance and support at the weekly level cannot be broken through, it will continue to fluctuate. If the resistance and support at the weekly level cannot be broken through, the bullish counterattack target can be expanded to 95000. The daily level trend has hit the bottom three times since February 28th and the support has been confirmed to be effective: the recent rebound from 74500 to the current 85000 is more than 10000 points; At the daily level, there is still the ability for sustained upward movement. In terms of operation, try to avoid short positions as much as possible, and focus on buying long at low prices
Partners seeking short selling opportunities need to patiently wait for the actual situation to be tested around 89000-90000
Operation suggestion:
BTC 82500 in the first target view 85500, the second target view 86500
ETH 1570 short first target to watch 1630 second target to watch 1680
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Disclaimer: The above content only represents the author's personal opinion and is for communication and sharing purposes only. It does not represent the position or viewpoint of AiCoin and does not constitute any investment advice. Based on this investment, there may be external contacts, which have nothing to do with AiCoin, and the consequences shall be borne by oneself.
