Analysis of the market trend on 12/18: BTC is about to change its trend.

CN
2 years ago

Over the weekend, BTC has been oscillating narrowly between 41,000 and 43,000 points. From the 30-minute chart, it appears that a turning point is imminent. Additionally, ICP, the doomsday vehicle, has been showing strong upward momentum and has more than doubled since December 12th. As for the big cake (BTC), this round of strong upward movement, apart from a relatively large pullback on the 11th, has been quite robust. However, sustained strength also implies that considerable risk has accumulated.

First, let's look at the daily chart. The MACD yellow-white line is currently in the process of pulling back to the zero axis, and the red bars are continuously lengthening. In any case, there will be at least a downward pullback, followed by an observation of whether it can stabilize at the zero axis. If it does, there will be another attempt to break through upwards. On a secondary level, it is a matter of whether there will be a third buy after a new high is reached to complete the upward trend on the daily chart.

Next, let's look at the 4-hour chart. The 4-hour level is still following the trend speculated in the past few days. The current movement is a downward pullback. It can be seen from the chart that the internal downward pullback has already oscillated to the central point of the seventh wave. As the saying goes, the longer the horizontal, the higher the vertical. This account believes that it will soon upgrade to the central point of the ninth wave and choose a direction, with a higher probability of a downward turning point.

Now, let's look at the 30-minute chart corresponding to the 4-hour level. The central point has already oscillated to the eighth downward wave. This downward wave will end, followed by a rebound, which will constitute the central point of the ninth wave. The highest probability is to break below the low point of 40,222 to complete the corresponding downward trend on the 30-minute chart for the downward trend on the 4-hour chart. The key is to observe the strength of the breakthrough.

In summary, this account believes that currently there are only buying and selling points at the 30-minute level, which is the oscillation of the 30-minute central point. A larger level, such as the 4-hour level, has not yet presented a buying point, and the turning point will be in the next two days. For those who want to bottom fish and replenish, they can gradually enter the spot market, first replenishing a small amount to avoid completely missing out. The timing for a large-scale replenishment still requires patience.

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