The long position is waiting for the end of the month to pull up

Bitcoin tested the $40,000 mark for two consecutive trading days and failed to effectively stabilize above it, indicating that there is now significant resistance at this level.

The long position is waiting for the end of the month to pull up

Bitcoin tested the $40,000 mark for two consecutive trading days and failed to stabilize above it, indicating that this level currently has obvious resistance and needs time to digest. As the current price retracement is not big, it chooses to consolidate sideways, which means the rebound is not over, and there is still a chance to break through this mark, as long as the breakthrough will usher in a new rebound wave.

On Wednesday, 26th EST, in an online event at the think tank Brookings Institution, Randal Quarles, vice chairman of the Federal Reserve for financial regulation, said that if the U.S. economy maintains a strong recovery after being hit by the new crown epidemic, the Fed should start discussing a reduction in QE bond purchases at its meetings in the coming months. All signs show that with the recovery of the U.S. economy in the first half of the year, coupled with inflation continues to climb under the scale of QE reduction seems to have begun to enter the agenda, I believe the focus of the market in the second half of the year will be about the gradual withdrawal of the U.S. QE news, if the Federal Reserve clear timetable, the market is expected to start the market.


Short-term price is flat again, lack of direction, long and short stalemate, but from the daily chart, MACD appears to handover, because it is at the bottom handover, so the probability of the next turn of the golden fork is greater, mainly waiting for more volume to establish the signal, still need to give the bulls some time to get ready, I believe the next price will break through the $40,000 barrier.

Yesterday’s high fall, failed to close above $ 40,000, on behalf of the short-term will be repeatedly tossed, but at this stage to reproduce the plunge, or deep probe is unlikely, or low more, waiting for the price to penetrate the pass, the momentum of the long will be further release, favorable to further rebound after the market. Pressure level: 40600, support level: 36500.


With even days of rebound, short-term resistance, is expected to temporarily rest in place, and then will impact the $ 3000 mark, so the short-term back pedal is the opportunity to absorb, you can pay attention to its $ 2600 line of support. Pressure level: 3000, support level: 2500.


Gradually return to the bottom of the previous range, pay attention to this week’s closing line can be back inside the range, has now recovered most of last week’s losses, I believe that the market after the price can regain the uptrend, and then a new high. Pressure level: 28.00, support level: 22.00.


Short-term into the pressure zone, need time to digest its pressure zone, as long as it can break through this pressure zone, the subsequent price will further rally, waiting for the upper breakthrough market appears. Pressure level: 400, support level: 300.


After touching the $ 200 mark yesterday, failed to rebound further, showing that the short-term $ 200 mark has a certain pressure, need to break through this pressure to open the rebound space above. Pressure level: 200, support level: 160.


Short-term rebound is blocked and fails to rebound further. It is expected to take a short-term oscillating market, running between 20-25. Pressure level: 25.50, support level: 21.00.

Posted by:CoinYuppie,Reprinted with attribution to:
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