Bitcoin, today is just the beginning of Bitcoin. After all, the rise in the past two days has won the championship in one fell swoop, once again demonstrating its status as the big brother. In fact, the strength of this rebound has already been foreshadowed in the previous correction. How to say this? Taking Bitcoin and Ethereum as an example, if one of the two trends is strong in decline and the other is weak, then once it turns to rise and rebound, the weak one will become strong and the strong one will become weak. This type of trend has been verified many times.

Back to this rebound, it rose strongly by 2,000 points in the early morning and directly broke through the strong resistance of 27,300-27,500. This position is the pressure point of the upper trend suppression line of the entire downward trend channel of the daily line. In this channel, the currency price has touched the pressure pullback four times in a row, but this time, the bulls finally breathed a sigh of relief. The daily line completed a V-shaped reversal and broke through the previous pressure point of 28,450. The daily line broke through this trend line suppression, which means breaking the channel and breaking upward. On the other hand, the 30,000 mark is this year's triple top, and this top is also the watershed of the entire trend this year. Then the short-term unilateral rise of the daily line this time is completely intended to test this position. Regardless of whether there will be a subsequent breakthrough or not, there is at least hope to touch it.

Short-term more than 28,000

Ethereum, thanks to Bitcoin, did not continue to fall after breaking through the 1700 mark on the daily line. Instead, it also completed a V-turn at the 1625 line. However, this "turn" is still debatable. Unlike Bitcoin, others are almost touching the top resistance with this wave of rebound, while Ethereum has not even touched the previous resistance level of 1920. In the morning, it just touched the 1830 resistance level under pressure. Therefore, the strength of this round of rebound is obviously still weak. In my opinion, the condition for the reversal of the daily line is to stabilize at 1920, but from the current point of view, there is still a gap. If it relies on Bitcoin to lead the way, once others turn from strong to weak, Ethereum will still have to return to its original form. Of course, from a positive perspective, at least the daily line has curbed the decline of bears in the short term, especially when the daily line just formed a downward break, such a round of rebound is inevitable to hit the bears. Next, it depends on whether it can get rid of the push of Bitcoin and form an upward momentum of its own; in the short term, 1830 is the first resistance level of the current rebound. Let's first look at the breakthrough of this position. If it stabilizes, the daily line will continue to look at 1880. For bulls, there are still several key resistance pressures on the top. It is not easy to truly complete a V-shaped reversal!

Short-term 1780+

Gold has been fluctuating in a weak trend since entering June, and the continuity of the market is extremely poor, especially every time the price touches the bottom support or top resistance, it will give people the illusion of a break; last Friday, the gold price bottomed out and rebounded after breaking the low, but this week the price failed to continue the rebound and continued to fall. After the opening of the U.S. market yesterday, it directly fell unilaterally by more than 20 US dollars. After the daily line closed with a big negative, there was a trend of breaking down again; in the short term, when the price falls below the 1940 support, the trend will tend to be bearish. This position has played a very critical role in the recent trends. Either it will rebound strongly or it will break down directly. Therefore, in the short term, we will still focus on the 1940 conversion position. If the daily line cannot stabilize at this position, short selling will still be the main focus in the short term.

Short-term 1940-1945 short

This article is original written by me, Xiao Feng Lunbi. The above analysis is only a personal opinion and is for reference only. Investment is risky and you should be cautious when entering the market. Please indicate the source when reprinting!