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Hello everyone, I am Cannon Teacher. Live broadcast at 21:00 tonight, there are signs of a halt in the weekend market, but the direction has not been determined yet, and there are reasons for both long and short positions.
BTC is currently around 63700, with a slight increase of 1.6% in 24 hours. After FOMC, the lowest point was 62000, and it did not break the new low for two consecutive days, indicating a short-term stabilization trend. But the pressure above 64200-64500 is obvious, and the daily moving average is still bearish. If it cannot stand up, it will still fluctuate weakly. Below 63000-61800 is the support area.
Currently around 1720, the 1700 level is being repeatedly contested. The pressure is heavy above 1740-1760, and temporarily held below 1680-1700. Overall weaker than BTC, the exchange rate remains low.
Coexistence of bullish and bearish factors
·On the bullish side: BTC inflows on the exchange have dropped to their lowest level since April, indicating a temporary easing of selling pressure; The 4-hour RSI has recovered from a low level, and the short-term selling momentum has weakened.
·On the bearish side: All daily moving averages are still in a bearish pattern, and the trend has not reversed; At the macro level, hawkish FOMC sentiment has not dissipated, and market risk appetite is difficult to quickly recover.
Weekend strategy: Do not bet heavily on one side until the direction is clear. Keep an eye on 64200 above to see if it can be scaled up, and keep an eye on 62000 below to see if it can be tested again. Breakthrough following, break position defense, focus more on the middle area and move less.
Tonight's core: Is it currently a halt to the decline or a continuation of the decline? How to deal with 64200 not passing? If ETH 1700 falls again, where is the bottom line for long orders? See you at 10 o'clock, explain the two coping strategies thoroughly.
Disclaimer: The above content only represents the author's personal opinion and is intended to assist investors in understanding information related to the capital market. It does not constitute any investment advice and does not represent the position or viewpoint of AiCoin. The market is risky and investments should be made with caution.
