Bottom line: the overall picture is still on the weak side, with 6 of the 8 major assets trading below their medium-term moving averages.
Put simply, they’ve bounced after falling a lot. Until I see money really flowing back in, I’m in no hurry to buy the dip.
$ETH 2,265.28 ▲+1.06% (24h)
Moving averages are weighing on it, the bearish structure remains intact, RSI 45, and buying interest is weak
$BTC 77,740 ▲+0.60% (24h)
It’s still being held down by the moving averages, and the rebounds are weak; RSI 41, and buying interest is weak
$AVAX 8.624 ▲+0.42% (24h)
It’s rebounding, but the downtrend structure hasn’t been broken; RSI 49, with neither bulls nor bears showing much conviction
$LINK 11.523 ▲+0.40% (24h)
Recovering from the lows, but it hasn’t reclaimed the medium-term moving averages; RSI 51, with neither bulls nor bears showing much conviction
The other 4 assets look more or less the same, so I won’t go through them one by one.
#BTC #ETH #Cryptocurrency #MarketAnalysis
⚠️ The above is my personal review and opinion, and does not constitute investment advice. Different views are welcome. Futures trading involves extremely high risk, so please manage your position size yourself.
Put simply, they’ve bounced after falling a lot. Until I see money really flowing back in, I’m in no hurry to buy the dip.
$ETH 2,265.28 ▲+1.06% (24h)
Moving averages are weighing on it, the bearish structure remains intact, RSI 45, and buying interest is weak
$BTC 77,740 ▲+0.60% (24h)
It’s still being held down by the moving averages, and the rebounds are weak; RSI 41, and buying interest is weak
$AVAX 8.624 ▲+0.42% (24h)
It’s rebounding, but the downtrend structure hasn’t been broken; RSI 49, with neither bulls nor bears showing much conviction
$LINK 11.523 ▲+0.40% (24h)
Recovering from the lows, but it hasn’t reclaimed the medium-term moving averages; RSI 51, with neither bulls nor bears showing much conviction
The other 4 assets look more or less the same, so I won’t go through them one by one.
#BTC #ETH #Cryptocurrency #MarketAnalysis
⚠️ The above is my personal review and opinion, and does not constitute investment advice. Different views are welcome. Futures trading involves extremely high risk, so please manage your position size yourself.