The Price of Bitcoin is so strong, is it still bearish at this moment?
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Recently, many currency friends finally had meat, and they expressed joy when they chatted with me, which made people happy. This is how the market is. Fluctuations in currency prices will affect people’s mentality and mood. I hope that currency friends can still be happy every day and everything goes well. Yesterday, the price of Bitcoin rose sharply again.
The price of the currency rose from the lowest point of 47,100 US dollars to the highest price of 52,650 US dollars.
The increase once again exceeded 10%. This is the second increase of more than 10% in two days. The circle is so magical. There are only two seasons, one is winter and the other is summer.
The price of the currency in the front seems to fall below 40,000, and the price of the currency in the back seems to break through a new high. It only takes two or three days. It can be described as a difference between heaven and hell. Okay, I’m not sighing, keep calm, and objectively analyze and look at the most important thing.
Is Bitcoin Bearish Now?
Back to the disk, yesterday we believed that the currency price will challenge 49,700 US dollars. After the challenge, we will continue to challenge the pressure level of 51,500-52,000 US dollars. Sure enough, the market is indeed going like this. Then the technology taught in yesterday’s article is even more important. Many people have learned it, because it is not something theoretical in books, it is too practical, and those who do not learn will understand the key points. So we can understand if bitcoin is bearish these days.
We saw yesterday that due to the rapid increase in the price of the currency, the price of the currency broke through $52,000 in one go, and came to near $52,600, but we know that $52,000 is a strong pressure level, and the currency price has a high probability of reaching a critical pressure zone for the first time. It is going to rise and fall.
Even if the currency price reaches US$52,600, it only rises for a short time. After the rise, the fall is completed quickly, and the whole trend is fully in line with expectations. So it is clear that the pressure level of $52,000 is effective. Therefore, today’s actual combat teaching is “the currency price will fall back for the first time near a strong pressure level” or “the first time it will rebound near a strong support level”. The case of a rebound near a strong support level has been discussed many times.
The price has bounced around 45,000 USD a few times before, and coin lovers have also experienced it several times. But the difficulty lies in knowing where the strong pressure level and the strong support level are. This requires sufficient knowledge of the market, because the strong pressure level and the strong support level are dynamic and not fixed. Because it changes with changes in the main trader and the strength of the market.
Moreover, this technology is not available for pressure and support in different market stages, such as a unilateral strong market. Therefore, some currency friends often ask where is the pressure? Sometimes I can give a reply and sometimes I cannot give a reply.
That’s all right, what do you think now? Is the price of the currency going to rise all the way up? Can the Air Force have no meat to eat?
To answer this question, first review the rise and fall of the currency price. At present, the currency price has encountered resistance from 52,600 US dollars and fell back. The lowest has fallen to 49,900 US dollars.
Now it has rebounded from 49,900 US dollars to 51,500 US dollars. Said that the strength is neither small nor large, the fall of nearly 2700 US dollars, indicating that the pressure of 52,000 US dollars is not small, but from the strength of the 50,000 US dollars to 51,500 US dollars, this rebound is not small, so we can.
This wave of fall from US$52,600 to US$50,000 is seen as a callback after a strong pull-up, and the first support for the callback is US$50,000. With the support of US$50,000 and the resistance of US$52,000, there is not much room for currency prices to operate. If understood in this way, the currency price still has the momentum to challenge $52,000 for the second time.
The currency price is so strong, is there no resistance? Let’s enlarge the pattern and analyze it from a technical level. First, the 4-hour level is now very strong.
The MACD is turning upwards, which has the power to pull the currency price upward, and the 4-hour level is at the band level, so we are on the small band. It is true that you cannot be too bearish, and the hourly level is also a golden cross, but there is a hidden danger in the hourly level, that is, if the currency price can once again rise above US$52,600, the hourly level will have a top divergence phenomenon, which is a short-term ba.
Finally, looking at the daily level, the daily level is still deadlocked, that is to say, the daily level has not yet fully strengthened, and the higher the currency price pulls up, the greater the pressure will be.
Therefore, based on the above analysis, we believe that the currency price still has upward momentum in the short-term, but if the currency price breaks through a new high of $52,600 and then goes up again, the pressure should be increasing. Of course, the pressure does not mean that the currency price will immediately It’s about to go down, but it represents a large fluctuation, which means that when you pull it up, you will smash it down. The price of the currency needs to find pressure levels repeatedly, so short-selling currency friends still need a little patience.
Today’s firm offer analysis, everyone can experience it seriously
Ethereum: In terms of the strength of the rebound, Ethereum is not as good as Bitcoin, but it is similar, so the trend is also similar.
This coin did not rise too much when Bitcoin rose yesterday. This is also normal, because it has been in an independent market for a long time, and the main force has its own operating habits.
Ham is fluctuating too much at the moment. It is currently rebounding at the 10-day moving average. In the long run, we still need to pay attention to the gains and losses of the 10-day moving average.