This morning I still thought I could hold steady at 2,452.
Then I changed my mind in the afternoon.
Last night it surged to 2,547—4-hour RSI at 75.6, overbought.
The volume ratio is hugging 0; with a trading value of 2 billion, everything was ground out slowly downward.
On the hourly chart, the MACD has a dead cross, and the price is probing down toward 2,357.
It bounced back to 2,434, but is still below MA5 (2,452) and MA20 (2,458).
The lower Bollinger band is at 2,330; bandwidth is 10.4%, and price is riding the lower edge.
On the 15-minute chart, RSI is 17.1—oversold—so there may be a short-term bounce.
On the 1-hour chart, RSI is 52.7—neither here nor there—whether it can bounce is really hard to say.
On the 4-hour chart, MACD is still in bullish territory, and volume-price action is going against it.
A weak-volume rebound—I don’t believe it can swallow two moving averages in one bite.
If it can’t reclaim the level above the moving averages: 2,547 and 2,546 are just one point apart—double resistance.
MA50 is at 2,384, and 2,268 is the previous low—support may hold there.
Plan: rebound into 2,452–2,458 to go short, stop-loss at 2,547, reduce position and look toward 2,268.
These levels are calculated using the moving averages and the prior highs/lows—I suggest you verify them yourself.
If I’m going short from these levels, I’d rather pay a bit more for it.
#BTC #ETH #以太坊 #币圈 #Market analysis
Then I changed my mind in the afternoon.
Last night it surged to 2,547—4-hour RSI at 75.6, overbought.
The volume ratio is hugging 0; with a trading value of 2 billion, everything was ground out slowly downward.
On the hourly chart, the MACD has a dead cross, and the price is probing down toward 2,357.
It bounced back to 2,434, but is still below MA5 (2,452) and MA20 (2,458).
The lower Bollinger band is at 2,330; bandwidth is 10.4%, and price is riding the lower edge.
On the 15-minute chart, RSI is 17.1—oversold—so there may be a short-term bounce.
On the 1-hour chart, RSI is 52.7—neither here nor there—whether it can bounce is really hard to say.
On the 4-hour chart, MACD is still in bullish territory, and volume-price action is going against it.
A weak-volume rebound—I don’t believe it can swallow two moving averages in one bite.
If it can’t reclaim the level above the moving averages: 2,547 and 2,546 are just one point apart—double resistance.
MA50 is at 2,384, and 2,268 is the previous low—support may hold there.
Plan: rebound into 2,452–2,458 to go short, stop-loss at 2,547, reduce position and look toward 2,268.
These levels are calculated using the moving averages and the prior highs/lows—I suggest you verify them yourself.
If I’m going short from these levels, I’d rather pay a bit more for it.
#BTC #ETH #以太坊 #币圈 #Market analysis