The dollar is strong and the big pie is taking a break

The big pie rose and then fell on Thursday, presenting a high and falling market, with a more pronounced dive late in the night time, hitting a new low for the week again.

Thursday’s big pancake was first up and then down, showing an impulsive fall, failing to stabilize above $39,000, with a more pronounced dive late at night time, hitting a new low again this week, causing the short-term rally rhythm to be destroyed again. At present, bitcoin is like a battering ball, colliding back and forth between the upper and lower two walls, unable to get rid of the current pattern in the short term, continuing to maintain the washout phase, this time thoroughly washed clean under the future trend can be optimistic and bullish, now using time for space, waiting for a new phase of the market to start.

The dollar is strong and the big pie is taking a break

Last night’s bitcoin decline was mainly suppressed by the strength of the U.S. dollar. The current market expectation of a rate hike is heating up, causing the dollar to continue to climb, hitting a high of 92, a new high of nearly a month, recovering most of the losses accumulated in the second quarter, but with two consecutive days of big gains, it is expected that the next gains will gradually narrow, making it difficult to constitute a sustained upward momentum, so the impact of the dollar on bitcoin is only temporary and will not bring direct impact.


After yesterday’s rebound was blocked, a second high was formed, because after the retracement there was a new low, so the short-term trend is weak, forming a downward channel, but the overall downward space is limited as long as it does not fall through $37,000, there will not be an acceleration of the downward process, but because the 4-hour chart MACD is still in a short signal, so do not rule out that the price will not go down to near $37,000 during the day.

As the short-term trend is weak, so you need to break the top of the downward channel to reverse the current weakness, otherwise, the price will extend the channel down, so pay attention to whether the price can stop falling in the late afternoon session and regain above $39,000. Pressure level: 41000, support level: 37000.


The price is currently approaching the $2300 mark. If it falls through this mark during the day, it will move towards the $2200 low, and conversely, if it can hold the $23000 mark, there will be a rebound opportunity. Pressure level: 2600, support level: 2300.


Short-term price change is not much, or trend oscillating market, but because of the current market instability, so it is difficult to get rid of the overall weakness of the coins, can not come out of the separate market. Pressure level: 25.00, support level: 21.00.


Continue narrow oscillation, before coming out of the direction, keep watch and wait for the price to break up and follow up, it is expected to still need time to break the balance. Pressure level: 400, support level: 335.


Now the price does not fluctuate much, maintaining a narrow range of oscillation, Bollinger band closure in, waiting for the opening of the unilateral market to determine the direction, short-term wait and see. Pressure level: 200, support level: 155.


At present, the price continues to oscillate, the rebound run, it is recommended to sell high and suck low, wait for the price to step back closer to $20 to do more. Pressure level: 27.00, support level: 21.00.

Posted by:CoinYuppie,Reprinted with attribution to:
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