Crypto Zhongliang: 6.16 BTC/ETH market view!

CN
2 hours ago

The Iran-U.S. talks led to a sharp rise in the market yesterday, and many short positions were consecutively trapped. Bitcoin's short was at 66000 yesterday, and at midnight, it was necessary to cover at 67200, which helped pull up the average price, and finally, the short positions were released for profit. Ethereum's short was at 1820, and upon waking up in the morning, it was also a case of waiting for the clouds to part and the moon to shine; the bears finally lifted their heads, singing songs of the newly freed peasants!

Yesterday, Bitcoin's daily candlestick closed with a small bullish line with wicks above and below. The current price is fluctuating around the middle track of the Bollinger Bands. KDJ and RSI, after being overbought at high levels, are turning down. The MACD is showing increased bullish volume. As mentioned yesterday, the lower track of the weekly Bollinger Bands is opening downwards, creating space, but the price is moving upwards. After a continuous decline last week, the indicators were severely oversold, and the bulls were completely defeated. A slight recovery this week is very normal, especially with the support of news. The trend has not changed; it is just a rebound recovery during a downtrend!

On the 4-hour level, the price formed a double top near 67200, with three consecutive bearish candles. KDJ and RSI are turning down, while the MACD bullish volume continues to shrink. The hourly chart, after being pressured by the upper track, shows the upper track opening downwards, with the price breaking below the middle track. Currently, KDJ and RSI are turning upwards, and the MACD bearish volume is also shrinking. In terms of indicators, the market is influenced by support below, and there is still a demand for rebounds. Pay attention to the middle track pressure on the hourly chart above, as this is also the middle track pressure of the daily candlestick, and secondly, the high point of the double top facing pressure and retracement.

Pay attention to the resistance above at 66300 and 67300; participate in the short positions around here. For support below, watch 65200 as well as 64000 and 63000.

For Ethereum, the resistance above to watch is at 1790 and 1850; participate in the short positions around here, with support below at 1750, 1700, and 1650.

In this unpredictable market, some can make money, but many friends do not perform ideally. When it's time to short, they fear a rise. When it's time to long, they fear a decline. This is human nature, and human nature is the most complex technology. Sometimes you will realize that what truly affects you is not the price, but rather that you think too much about various things. The biggest risk in investment is not knowing what you are doing. A person without a goal will ultimately fulfill others' goals; a person without a plan will ultimately be planned by others. The greatest enemy in trading is not others, but ourselves.

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