Bitcoin is “setting the stage” and the subject matter is ready to “sing”

Bitcoin is “setting the stage”, the subject matter is ready to “sing”.

Bitcoin is "setting the stage" and the subject matter is ready to "sing"

Market sentiment: According to the data, the number of major virtual coins in the market rose by 62.87% in the 24 hours before press time, which is less than the number of declines by 37.13%, with 642 coins that rose by more than 10% and 420 coins that fell by more than 10%. The short-term market sentiment continues to be optimistic over the past day, and this state has not yet changed significantly from this point of view.

Looking at the 4-hour cycle chart, Bitcoin has initially formed an upward trend in highs and lows, while the MACD indicator continues to run above the zero axis. The 37500-38600 range drawn in the chart is the overlap zone between yesterday’s retreat low and the previous rise high, while the area above around 42300 is the overlap zone between the previous high and low. From the 1-hour chart, the current upward momentum appeared more obvious signs of stagnation.

Short-term trend is expected to adjust demand, you can focus on 37500-38600 support area, if there is a stop signal in the region, or a good opportunity for low suction intervention. The upper resistance focus on the region near 42300, the resistance role is strong, the short-term breakthrough is difficult, the first touch to avoid the risk of adjustment.

Support: 39600 – 38600 – 37500

Resistance: 41000 – 42300 – 44300

OKEx ETH/USDT perpetual contracts.

ETH has rallied upward in recent days in sync with bitcoin, though the rally is clearly not lower than bitcoin. The coin price is currently stalling in the overlap zone between the previous rally high and the lower edge of the finishing platform, while there is top divergence in the minor cycle. The MACD indicator has started to penetrate the zero axis at the 4-hour level, and has broken the MA30 and MA60 mid-cycle averages.

Short-term adjustment is expected to demand, but the adjustment magnitude and period are not too large, you can first focus on the 2520 line of support, if there are signs of a stop here, or a good low-suction buying opportunities. Later, the upper resistance first focus on today’s high of 2650 a line, after breaking the focus on the 2810 near, that is, the line formed by the line of multiple highs falling pressure line.

Support: 2565 – 2520 – 2465

Resistance: 2650 – 2730 – 2810

OKEx DOT spot

DOT is obviously stronger in this round of rally, but now it has also run into a strong resistance area (the falling pressure line and 30-day SMA are located near today’s highs) and is showing signs of a significant stall. It is expected that the short-term trend is still further downward adjustment needs, but the potential space should be more limited, you can first focus on the 23-24 range support role, into the region if there is a signal to stop (1 hour K-line to receive a longer lower shadow, 15 minutes in the graph of the bottom divergence, etc.) low suction buy profitability success rate is relatively large.

Support: 24.00 – 23.15 – 22.40

Resistance: 25.50 – 26.10 – 27.00

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/bitcoin-is-setting-the-stage-and-the-subject-matter-is-ready-to-sing/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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