Yesterday (Thursday) the Bitcoin the daily K-line receiveds long shadow inverted T-line, which is in sharp contrast to the previous day (Wednesday).
In tThe pastfirst two days (Wednesday and Thursday) of Bitcoin, whether Bitcoin price broke through 3702 downward on Wednesday and or broke through 3854 on Thursday night, however they now seem to be false fake breakthroughs. They are all a means by which the main force is trying to suppress the price to declines in a short time and pull up the ptice to induce the market to follow the wind to trade,to kill the dividual investors. Yesterday's analytic article also said that even if Bitcoin breaks through 3854 resistance (the highest level on February 25) ,it is not likely to go far. From the downward trend of Bitcoin after last weekend (February 24), even if Bitcoin regains its MA5 and MA10 average, it can't show that the trend has changed and the market can strengthen again. Yesterday (Thursday) evening, Bitcoin hit the 3900 line and fell down again. In terms of trading time, Bitcoin expanded the consolidation range from the original 3702-3854 to 3640-3895. The expansion of trading range is more conducive to the main funds killing small investors. The enlargement of the horizontal consolidation range will also lengthen the downward trend of Bitcoin since last weekend.
Last Sunday (Feb. 24) Bitcoin's collapse at the 4,000 level undermined the short-term upward trend since Feb. 8. Last night, the price was blocked by the pressure near MA10 . Although the daily K-line is still above MA20, today and the position of the daily K-line of MA5 、MA10、MA20 are dead-crossed and turning downwards. The technical trend of the daily K-line cycle are deteriorating. Short-term overall trend may go downward concussion downward trend.
According to the large trade range 3640-3895, the daily K-line ended yesterday,after the inverted T-shaped line with a long shadow line,the probability of falling downward is higher During the day ,the upper resistance is 3895; the lower support is 3640. For trading, short the price in higher position is better,avoid long trade.