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In the international context, the situation is severe, and the U.S. stock market has fallen again after the opening, which will inevitably have an impact on the encryption market. Overnight, the three major U.S. stock indexes collectively closed down, with the Dow falling 0.44%, the Nasdaq falling 0.04%, the S&P 500 falling 0.17%, and the big tech stocks risingfalling, Nvidia rising more than 3%, Metarise more than 1%, and Tesla falling more than 3%. The volatility of the encryption market increased, BTC once fell above $60,000, ETH fell to around $2,300, fall 0.3%, and the top of the fall list is the currency that will be delisted. The initial claims data released by United States yesterday remained low, and the non-farm and unemployment data released at 20:30 this evening were vigilant that the "general strike" evolved into a "black swan"!
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BTC price remained in the range we set yesterday, showing a oscillating trend. The price rebounded to around 61500 in the morning but encountered resistance and started to decline under pressure. In the afternoon, it even reached a low of 60100. The price rebounded to around 61000 in the evening, but then fell back slightly and eventually stabilized and rebounded near 59800. Looking at the 4-hour chart, the market has a Long Wick Candle downward, and the trend line formed by the trend chart keeps shifting downward. As the trend line keeps moving downward, the low point will be lower and lower, and breaking through 60000 is just a matter of time. The MACD is opening downward, but there is no crossover, indicating that it is not strong downward at the moment. And the MACD histogram frequently changes between red and green, indicating that the market is hesitant and the market sentiment is fluctuating. However, it is expected that the short trend will continue on Friday. In terms of operation, it is still advisable to layout in the high short positions.
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With the continuous outflow of ETH spot ETF and the further deterioration of the situation in the Middle East, the panic sentiment in the encryption market continues to spread. The market turbulence has led to large-scale liquidation. In the current state, there is still no obvious reversal sign in the daily candlestick, which has already had 6 consecutive bearish days. The overall trend is weak and the decline is greater than BTC. The trend is following the resistance level at 2520, and in the short term, it can get on board with a long position at the support level of 2300. The regular trial position can target the 2380-2420 level, and after breaking through, decide whether to hold. Generally, after polarization occurs, the market will enter a sideways cycle until the polarization ends. The Bollinger Bands are close to the lower support level of 2240, less than a hundred points, which needs to be followed. The KDJ is heading into the Oversold zone, although it has not reached the extreme Oversold, it cannot rule out the possibility of the market impacting the previous high!
BTC2.27%
ETH3.14%
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