Market shocker, will BTC second dip today?

The market is currently lacking in momentum and potential risks still exist, so will the market see a big drop or not?

Tuesday the market showed a unilateral decline in the market throughout the day, bitcoin fell 12%, is the largest single-day decline since May 23, once again caused investors to worry, because nearly half a month of time the price is late to stand above $ 40,000, it can be seen that the current market power is insufficient, the potential risk still exists, but you say that now the market will still be the possibility of a big drop, as seen in yesterday and today’s early performance, the Continuous deep decline is unlikely, 31000-290000 is still the current bottom line, unless this bottom line is broken, otherwise, the overall current further decline in space is still limited, more is seen as the bottom wash mainly.

Market shocker, will BTC second dip today?

Yesterday’s market plunge, many people put the blame on the FBI, because recently the FBI in the hands of hackers to retrieve the virtual currency wallet used to collect ransom from victims, there is news that because of the crack server so can retrieve, generate concern about virtual currency security issues, but in fact the server used by the hackers is the use of rented cloud servers, and virtual currency itself security is not relevant, but the market fuss, see the current market emotional instability, as long as there is any wind will overreact.


The price went down to $31,000 low for the third time, temporarily supported at this level, the price has rebounded, but today the price needs to return to $34,000 above, in order to lift the short-term decline in risk, otherwise, today is still facing the possibility of a second dip, so temporarily under the trend is weak, it is recommended to wait and see.

After yesterday’s plunge, the short-cycle patterns go bad, need time to correct, in the temporary absence of obvious signs of rebound before, see the weak shock as the main, patiently waiting for the end of this round of adjustment, continue to pay attention to the lower support area can hold. Pressure level: 37000, support level: 31000.


At present, continue to take the oscillation pattern, short-term prices will run in the 2800-22000 range, maintain the low do more strategy, the overall pattern is still good, for the medium and long term trend to remain optimistic. Pressure level: 2800, support level: 2200.


After yesterday’s plunge, the short-term into the shock market, pay attention to the lower support level of $ 20, before falling through this barrier, the short term and then down the space is not much, do not blindly bearish. Pressure level: 27.00, support level: 20.00.


Although yesterday’s sharp drop, but the price is still in the recent range, short-term loss of control down is unlikely, continue to take the shock finishing market. Pressure level: 400, support level: 320.


The current rebound is blocked, the long continue to organize in the range, waiting for the next opportunity, the short-term trend will not have much change, mainly in oscillation, focusing on the support below near $ 140. Pressure level: 180, support level: 140.


Short-term prices will run in the 24-19 range, as long as the price does not leave this range, the overall risk is still controllable, no need to worry excessively, continue to absorb chips at low levels, waiting for the turn of the trend. Pressure level: 24.80, support level: 19.00.

Posted by:CoinYuppie,Reprinted with attribution to:
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