Bitcoin in “bottoming out” phase as low region repeatedly seesaws

Short-term market sentiment is neutral to pessimistic, and the gap between the strength of the long and short sides is small.

Bitcoin in "bottoming out" phase as low region repeatedly seesaws

Market sentiment: According to the relevant data, the number of major virtual coins up in the whole market accounted for 42.05% in the 24 hours before press, less than the number of down accounted for 57.95%, with 519 coins up more than 10% and 520 coins down more than 10% in equal numbers. Overall, the market’s short-term sentiment is neutral to pessimistic, and the strength gap between the long and short sides is small.

OKEx BTC/USDT perpetual contracts.

In recent days the coin price continued to shake, up and down did not come out of a good continuity, while the volume representing market activity also continued to show a shrinking trend running. The overall structure of the trend, the recent major rebound highs still show a downward trend, not much today’s fall low relative to yesterday’s low also appeared to be raised, breaking the extreme decadence characteristics of the high and low points synchronized downward.

A conclusion can be drawn from the continued low volume, although the market is falling, but the active selling volume of the market has been significantly reduced. And it is a good sign that today’s retreat low failed to make a new low again. Coupled with the fact that the current rebound market is still strong, it is expected to gradually move off the bottom and run upwards. But now the coin price has not yet broken through the short-term resistance located at 36550 a line, so do not be too aggressive in operation and tightly control your position.

Support: 35650 – 35000 – 34000

Resistance: 36500–37300–38000

ETH rebound strength is obviously stronger, has broken the rebound highs set yesterday, in line with the characteristics of the strongest. The current trend of gradually lowering the rally high since the 26th has been initially destroyed, while today’s low is raised relative to yesterday’s, the signal belongs to the dominant performance of multiple forces. The chart 2657 is the neckline level of the previous small level head pattern, above the relatively large number of hedge coils.

ETH broke yesterday’s rally high on the confidence of the party will certainly have a great strengthening effect, is expected to next shock up the probability of greater. Short-term trend focus on 2430 a line of support, see as a strong and weak dividing line, as long as the fall does not break the price level is mainly bullish. Above the resistance first focus on 2657 a line, its above the potential hedge disc throwing pressure is heavy.

Support: 2430–2360–2285

Resistance: 2540 – 2590 – 2657

OKEx DOT spot.

The DOT trend structure follows bitcoin and is not currently above the rally highs left yesterday, but the characteristics of the falling lows keep moving down have seen a turn for the better. It is expected that the next probability will continue to follow the pace of bitcoin run, can pay attention to 21.3 a line of resistance, in the short term before not broken there is a small adjustment is expected, the lower support focus on 20.3, not broken to bullish after market. Above short-term resistance at 22.2 a line, near 24.8 can be seen as the medium-term trend of strong resistance, the last time there was a failure to break the situation, is bound to set a number of technical school in accordance with the breakthrough strategy to catch up, so it is difficult to effectively break the short-term.

Support: 20.30 – 19.60 – 19.00

Resistance: 21.30 – 22.20 – 23.30

Posted by:CoinYuppie,Reprinted with attribution to:
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