Currently, most people are paying attention to the news about fundamental ETFs. However, for short-term participants, the impact is not significant; unless you are a value investor and hold for the long term.
From a technical perspective:
1. The weekly level is still in the overbought range, the market has not calmed down, and the indicators have not been corrected, so the general direction is "upward";
Second, the daily level has been corrected and is in the normal range, so the technical indicators are considered valid. Approaching the BTC pressure level of 48,100, the daily MACD shows signs of divergence. Next, it depends on whether it will break through 48,100, and the market will be excited again;
a.
If BTC breaks through 48100 with strength, the rise will continue;
b.
If BTC is blocked at 48100 and the daily line closes negative, then there is a high probability that it will fall back and the rising trend will end;
Referring to the weekly level, if BTC is still in the "upward" trend, the decline in the divergence will not be very large. It will fluctuate at the daily level, that is, the support level is 40,000~44,000.
Then the range oscillation will continue until the weekly indicator correction is completed.
When the weekly indicator correction is completed, if BTC fails to break through this high or continues to diverge, then this wave of rise will be completely over.
You can take a look at it for 32000~35000.
Simply put, pay attention to around 48100. If BTC closes with a negative sign at the daily level, be cautious in chasing longs and consider shorting. If it closes with a negative sign and then turns to oscillation, and then rises again without breaking the high point, you can short sell at the weekly level.
This is what it means. Technical analysis uses existing situations to analyze possible situations that may occur next. Although there may be multiple possibilities, it can often give us risk reminders and help us make different possible plans.
