today, the Bitcoin market broke down again, and the intraday drop was over 1100 points. The downward trend has fallen under the support of the daily Bollinger Band, and the bearish sentiment is gradually heating up. Today, the market rebound is blocked and the daily line is the middle line, and the trend is under pressure again to break out of the deep correction. Currently, it has fallen below the 29,000 line, and the lows are slowly moving towards 29,000. If the market outlook falls below again, the downtrend is expected to continue further, suggesting Prepare your empty orders first.
On the daily chart the price is closed for two consecutive days. The market takes advantage of the trend and exits strong losses. The intraday decline continues. If the market fails to deliver a strong reversal, once the 29,000 mark is broken, the short sentiment will become stronger and the price will take advantage of the downtrend to test a possible support position 27544 beforehand.
Looking at the short-term hourly chart, the Bollinger Bands are in an open posture, and the market has been up and down from a deep callback. Currently, the price has fallen by more than 2,600 points. If the next rebound cannot break through this area, the market possibly will continue to decline, and the 29,500 position is at risk of being broken. Emphasis from above, focus on 29100-29000-28900, support from below, focus on 26,500
ETH market analysis:
After Ethereum retreated to the 1190 line yesterday, the market rebound did not break the repression position 1275. The trend continued downwards as expected, and after the morning rush and callback, the price broke down successively and broke the heavy support below it. current low touches 1050 position and exits the rebound., The price is currently operating near 1070 position. Currently, the intraday has dropped around 150, and the market continues its downward posture.
Looking at the short-term hourly chart, although the market has currently recovered near the 1080 position, the bulls have not broken through the short-term suppression of 1170-1180, and the losses have not disappeared. The overall trend still dominates by bulls, and the market outlook remains It is recommended not to blindly pursue bulls in all operations due to possible callback pressures. In this figure, MACD two zero axis lines continue to fall, and the RSI and Stoch trend are flat, it can be seen that the current trend is still a downward shock trend. The upper support focuses on the 1170-1180 area oppression, and the lower support focuses on the 980-1000 area.
1. Price rebounds in the 1170-1180 area and enters the market with an empty order, stop loss at 1186, take profit at 1150-1130-1110
2.The price has retreated to the 1070-1080 area and more orders are entering the market, stop losses at 1020, and stop gains at 1100-1125-1150
Source: binance