Waves in the Cryptocurrency Sea: 11.2 Bitcoin (BTC) market analysis reference:
After the non-farm payroll data was released last night, the coin price surged to around 71600, then sharply reversed, testing the support near 68800 again, while Ethereum reached a high of 2587, then retraced to a low of 2480. Today, Bitcoin and Ethereum's daily performance is basically similar, with limited price fluctuations and overall showing a narrow range of consolidation.
From the daily chart observation, the candlestick continues to close in the negative, the Bollinger Bands are in a contracted posture, and the MACD indicator shows signs of a dead cross above the zero axis with the fast and slow lines. Currently, bearish sentiment is still quite strong in the market trend.
From the short-term hourly chart, the 4-hour Bollinger Bands are extending downward, the current price is fluctuating in the middle and lower track range, slightly below EMA7, EMA30, and above EMA120. The MACD is in the negative zone, and both DIF and DEA are diverging downward below the zero axis. Overall, bearish momentum still exists but shows signs of weakening. After testing the support at 68800 in the early morning, the price rebounded but has been suppressed by the hourly middle track, indicating significant resistance above. If the rebound can stabilize at 70000, the coin price is expected to challenge the 72000 mark again. However, given that it is currently the weekend, the probability is high that the market will continue to oscillate sideways without significant breakthroughs. The operational strategy is still to buy low and sell high around the support and resistance levels.
Waves in the Cryptocurrency Sea: 11.2 Bitcoin evening short-term reference:
Long position: Buy in the range of 68000-68500, defend at 67000, stop loss at 500 points, target 68800-69500
Short position: Sell in the range of 72000-71500, defend at 73000, stop loss at 500 points, target 71200-70800
Waves in the Cryptocurrency Sea: 11.2 Ethereum evening short-term reference:
Long position: Buy in the range of 2410-2440, defend at 2310, stop loss at 30 points, target 2460-2500
Short position: Sell in the range of 2580-2550, defend at 2680, stop loss at 30 points, target 2530-2500
The article is sent with a delay and has timeliness, personal opinions, for reference only, do not operate blindly! I hope everyone can adhere to their principles on their investment journey, regardless of how the market changes, and maintain rationality and calmness. Seize opportunities, make every decision just right, ride the waves in the sea of investment, and reap wealth and growth!!!#BTC☀ #ETH🔥🔥🔥🔥 $BTC $ETH
