Judging from today's trend, there was a round of rapid ups and downs in the morning and then returned to the opening starting point, which means that the bulls and bears are testing each other.
At present, the bulls want to go up but the bears won't let them, and the bears want to go down but the bulls don't agree either. Looking back over the past two days, the bulls have already invested a lot of funds, and further upward movement is blocked.
Technically, the hourly line closed with a Yin-enclosing Yang, and the period above 2 hours closed with a hanging propeller. In terms of trading volume, the 4-hour and 2-hour lines also released a rapid decline. From the daily technical indicators, MACD is still in a weak area below the 0 axis, and KDJ is around 66, but no golden cross has been formed. From the 12-hour perspective, MACD has already formed a golden cross at a low level, and the center of gravity of KDJ has been flattened for many consecutive periods. The 4-hour KDJ has just formed a dead cross, and the DIF and DEA values of MACD are close to a dead cross.
Based on the K-line patterns and technical indicators of the large and small cycles, the next rebound process depends on the attitude and willingness of the bulls. If it is not strong, you can continue to short at highs. If it is strong, it is recommended to go long at lows after successfully standing on the pressure level and stepping back to confirm. The upper pressure level is around 1840, and the lower support level is around 1750. #BTC #ETH #Binance
