BTC: Without the political factor what to support the bulls
At present, the United States and Iran have each given their own steps, and the conflict should not intensify for the time being. As a result, the entire market has a negative panic selling, and the bookmaker is unable to accept the order, causing the price to fall sharply. However, the current trend is no longer in line with the original intention of the dealer, and it is expected that there will still be a need for the bulls to increase the price and short in the short run.
Yesterday, the market started to pull down the highest resistance point of $8,500. There was no further exploration throughout the day. The correction last night continued until the lowest correction of $8,000.
From the daily chart, it closed the high-profile propeller leading K-line, MACD began to shrink, and Sotch RSI formed a dead fork at high levels, and KDJ diverged downward.
The BTC 1-hour cycle shrinkage repair indicator runs, MACD energy shrinks below the 0 axis, and Sotch RSI forms a golden fork at a low level, but no BTC price has risen significantly.
In summary, I believe that there is still a wave of retracement in the near future, and major attention is paid to the top and bottom transition support points from the day chart. So if you want to buy at a bottom price, you can refer to the analysis on the day chart to determine. Do not chase more in the high position.
Key points:
$7,880 long , cover $7,700, target $8,000-$8,150
$8050 short, cover $8,100, target $7,900-$7,800.
Yesterday, the market started to pull down the highest resistance point of $8,500. There was no further exploration throughout the day. The correction last night continued until the lowest correction of $8,000.
From the daily chart, it closed the high-profile propeller leading K-line, MACD began to shrink, and Sotch RSI formed a dead fork at high levels, and KDJ diverged downward.
The BTC 1-hour cycle shrinkage repair indicator runs, MACD energy shrinks below the 0 axis, and Sotch RSI forms a golden fork at a low level, but no BTC price has risen significantly.
In summary, I believe that there is still a wave of retracement in the near future, and major attention is paid to the top and bottom transition support points from the day chart. So if you want to buy at a bottom price, you can refer to the analysis on the day chart to determine. Do not chase more in the high position.
Key points:
$7,880 long , cover $7,700, target $8,000-$8,150
$8050 short, cover $8,100, target $7,900-$7,800.
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