, Aalthough the closing price of the Japanese K-line is still above the 20-day average, however, but since last weekend, Bitcoin fell below the 4000 level last weekend, today's 5, 10, 20-day average and Japanese K-line. Location, MA55, and 10-day averageMA10 today has been dead fork and turning downward and crossed, and the technical aspectmarket trend of its daily K-line cycle is deteriorating, and the technical aspect trendit is still continuing the weak overall decline after last Sunday's sharp fall. This morning, Bitcoin fell below 3702, created a new low that fellpoint compared to last weekend, which also shows that the downward trend of last weekend's sharp fall is continuing.
If you we simply look at the K-line with the long lower shadow line yesterday, there may be a considerable number of traders who think that today (Thursday) Bitcoin may continue the rebound after the early morning dip to 3640. This trading logic is quite reasonable. However, how much space this rebound can have, and is it worth for the trader to blog earnthe price difference, which is worth ponderingthat is a question.
In terms of the time cycle of a trend, after the sharp fall last weekend's sharp fall undermined the upward trend after February 8, leading to another round of a downward trend. took place. In terms of time, this downward trendit was last only four days (from last Sunday to Wednesday), and this downward trend could not be completed in the early morning of today. Even if Bitcoin rebounds and breaks through the resistance of 3854 (the highest level on February 25), it is not likely to go far. From the downward trend of Bitcoin after its 4190 blockage last weekend (February 24), even if Bitcoin price regains stand upon its 5-10 day averageMA5 and MA10 and or touches 4,000 or above, it will not be able to showdoes not mean that the trend has changed and the market can strengthen again. If Bitcoin rebounds again to 4,000 and blocked again, and go downwards, it will only lengthen the downward trend of Bitcoin since last weekend touched 4,190. Of course, this is for later. Wwhether it can come out or not, it’s still depends on the market.
Considering short-term trading, even if the long lower shadow line yesterday (Thursday) was long, today the Bitcoin price can rebound today, the stop-loss position is too far, profit-loss ratio is too low, bulls It isare not worth taking risks. Concern about the horizontal resistance of 3854, or after breaking through 3854, there might be opportunities to try short-tradingmay be blocked near or above 3900 opportunities, still can try to short Bitcoin . Upper resistance 3854; around3930 line; lower support 3640.
Before the sharp fall last weekend's sharp fall, Bitcoin had come out of a sharp rise in two weeks. It should be noted that the Digital current currency market is still a bear market in the medium and long term. In terms of time cycle, Digital currencies are still in the middle of the second half of the bear market, and the market is still so volatile that it is far from the end of the bear market. As we all know, the price trend at the end of the bear market is a stagnant water. As long as there is a sharp drop in the market overlike the weekend, currency friendsinvestors need to know that the market is still a bear market.