Is the market brewing a big weekly rally?

There is a high probability of a big rally to follow.

V God was recently interviewed by CNN Business, which said that we’ve had at least three of these big cryptocurrency bubble periods so far, and a lot of times the reason the bubble eventually stops is because something happens and then it suddenly becomes clear that the technology isn’t quite where it was imagined to be. It feels like cryptocurrency is ready for integration into the mainstream, whereas four years ago it was the exact opposite picture, when it wasn’t ready at all. Now cryptocurrency is no longer just a toy. Although I’m not sure, it’s still possible that ethereum could eventually catch up and surpass bitcoin in terms of market value. Buterin acknowledges that the cryptocurrency market is often “vulnerable” to disruptive events until it “builds up its immune system over time. Buterin believes that Musk’s fascination with dogcoin is merely a hobby, not a malicious one. In an interview with China News, Buterin acknowledged that regulation is always an issue,” although fears of an outright ban have receded. Doing something like this seems harder and more unrealistic. At the same time, governments do have a lot of power to make getting involved in the cryptocurrency space more difficult.

As of 11:30 on May 21, according to OEI OKEx trading big data, the number of long and short positions in BTC contracts is 1.20, and the number of market longs is high; the quarterly contract basis difference is above $150, the perpetual contract funding rate is positive, and the total position in delivery and perpetual contracts is $1.306 billion, with the overall air force prevailing; in terms of elite positions in BTC delivery and perpetual contracts, the long account Ratio of 48%, elite account long position of 18.40%, elite account long dominant, continue to focus on the changes in the position of large investors. From the options contract data, the call/put active buy volume ratio is 5.4, call/put active sell volume ratio is 0.86, active call/put buy volume dominates.


Is the market brewing a big weekly rally?

The previous pull-up, indicators have been diverging, and finally followed the general market ushered in the adjustment, but still did not effectively fall below the long-term trend support line, also did not break the 1.618 support line, the previous bull market did not appear to break through and then effectively fall through the situation, so the current long trend did not end, but is a good opportunity to trend low suction to increase positions, finishing is expected to continue the bull market process, need time, patient can be in batches of low suction below 2500. Short-term look oversold serious, the subsequent rebound demand, pressure 3350 U.S. dollars.


Is the market brewing a big weekly rally?
Is the market brewing a big weekly rally?

Long-term channel mid-rail blocked back down, the adjustment range reached 66%, the lowest smashed to 19 years to reduce the half of the calf’s apex of 142 U.S. dollars a band, belongs to the weekly W bottom neckline area, after touching the rapid recovery, 17 years of bull market also has a similar large adjustment, the lowest plug broken 0.618 support, weekly closing in recovery, the trend is to hit the bottom rebound and then fall back after finishing to continue the bull market process and then a new high, so the current The trend is still relatively similar to the previous, and currently also not broken 0.618 support, in the rail with the subsequent suppression after the wear and tear also has the opportunity to break upward, so the long-term trend is still in, short term see the same subsequent rebound demand, resistance 276 U.S. dollars.


Is the market brewing a big weekly rally?

Volume down to kill, insert broken 0.618 in the rebound, panic disc out, the recent oversold rebound is dominated by support 25 U.S. dollars, pressure 35 U.S. dollars, after the rebound there may be another bottoming, observe whether it can stop stabilizing.


Is the market brewing a big weekly rally?

Adjustment strength is also relatively large, the lowest drop to 0.618 a support, the previous period also had a similar large adjustment, the drop is similar, and then oversold the rebound back down after finishing continue to new highs, so the trend can not yet be judged to end, the recent short term is expected to linkage rebound, support $ 26, pressure $ 37.


Is the market brewing a big weekly rally?

The lowest step to the upper support line, also did not break 0.618 support, oscillation upward trend remains unchanged, the follow-up of this area after finishing still have the opportunity to new highs, the same short term rebound demand, support 1 $, pressure 1.26, 1.5 $.


Is the market brewing a big weekly rally?

The fluctuation range is too large, a day price is close to the waist, the lowest smash to 0.5 support line near, but also the upper edge of the pre-oscillation range support, touching the rapid recovery, this area of support is relatively strong, not broken can not say that the trend is over, the probability of the same rebound in the near term, support 700 U.S. dollars, the pressure of 1000 U.S. dollars, the short term can reduce positions at high, the follow-up may again probe the bottom.


Is the market brewing a big weekly rally?

Adjustment magnitude is also relatively large, the lowest back to the 0.618 support line, but also near the previous uptrend line, the indicators are also close to the previous lower smash low level, the probability of this band break down is not large, the general direction can not yet say that the trend is over, the short term is also brewing rebound, support 22.5 U.S. dollars, pressure 34 U.S. dollars, after the rebound back down again, if you can stop falling and stabilizing, then the follow-up is expected to form a new round of quotes.

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