Bitcoin prices continue to fall, and Ethereum's upward trend gradually weakens

Morning news:

US stocks closed: the three major stock indexes closed up, the Dow closed up 1.29%, the Nasdaq closed up 0.72%, and the S&P 500 closed up 1.22%. The blockchain sector in US stocks closed down 3.16%. Marathon Digital, Riot Blockchain, Canaan Technology, and Yibang International all fell more than 10%, and Coinbase fell 6.53%.

BTC market analysis:

Bitcoin's rebound weakened last night, and the market fell again as expected, dropping below the 48,000 line to the 47,000 pin. Currently, the price rebound is approaching the 49400 position. Bitcoin has not been broken and the market is still fluctuating downwards. Therefore, it is not advisable to pursue more in operation, be aware of blocked prices and more callbacks.

On the daily chart, the trend for the day ends at the end of the day, with a daily decline of almost 10,000 points, and bearish sentiment is relatively strong. On that day, the downtrend reached 47,000 and came out of the rebound. The current trend is relatively stable. The long and short sides are in a stalemate, and the market has entered a high consolidation. The picture is attached: MACD two lines maintain volume down and weight, Stoch two lines generally continue down, and there is a trend fit. The RSI could be flat near the horizontal heart line 40. It is seen that the intraday market is still leaning downwards, and the overall decline has not disappeared. The trend is still in shock and the bearish pattern has not changed.

Looking at the short-term hourly chart, the Bollinger Band is closed, the price is moving in the middle and lower rails area, the short-term trend is three consecutive positive ones, the market has entered a rebounding rhythm, the price is slowly rising, and is about to approach the mid-rail suppression. If it can break out and stabilize, the price will be further tested yesterday, which was pressed by 51300. Conversely, if it fails to break, it is expected that the next market will initiate a callback mode, and the price will fall when the bulls are taken back.

Even though Bitcoin may rebound by several thousand points in the short term, the overall trend is still a surprising downtrend. Therefore, the suggestion is mainly short orders rebound, and mainly used callbacks. You can try to chase short positions if you fall below the support line 47000.

BTC Morning Strategy

1. The price rebounds with an empty order near 50,000 position to enter the market, stop loss at 50400, and stop profit at 49400-49000

2. The price has retreated near the position 47750 and some orders entered the market, stop loss 47400, see profit at 48300-48700

3. If the price falls below the first line support 47000, you can consider light storage to catch up, and take profits around 500 points.

ETH market analysis:

Ethereum came out of a strong drop of more than 700 points yesterday. The low is approaching 3500 and the decline in the first line is gradually easing. The next rebound strength started to weaken. Pressure on the 3900 line retracted in the evening and fell below the 3600 position. Unfortunately, it did not test the 3500 line support as scheduled strength. Currently, the price is running around 3700, and the strength of the rebound in one day is still weakening. The Ethereum market remains volatile and down, so the idea is to maintain the empty order rebound. The above focuses on 3900 and 4000 lines of emphasis respectively.

On the short-period hourly chart the Bollinger Band opens slightly downwards, the short-term price is blocked, the market is under pressure and a slight correction, and the upper middle rail suppression is slowly moving downwards. If it fails to break through the pressure area 3880-3910, the market is under pressure. In order to possibly fall again, I hope you will be prepared in advance. The steady operation is still the main rebound from short orders. The downtrend hasn't disappeared yet, so don't blindly chase old positions. Upside presses attention to 3880-3910, lower support attention to 3575-3545, and a downtrend below 3500 positions will further downward.

ETH Morning Strategy

1. The price rebounds near the position 3875 and enters the market with an empty order, stop loss 3910 and stop profit 3820-3790

2. Price hits 3575 position and more orders enter the market, stop loss at 3545 and stop profit at 3620-3660

3.If the price falls below the 1st line support of 3500, you can consider light storage to catch up, and take profits around 30 pips

Indicators are time sensitive, and deliverables are delayed, so please refer to the real-time market for details. Again, to do a good job of risk control, no matter how high your valuation of the future market is, you must take your profits and stop losses well !