The two currencies are basically in a market where you fish one day and dry the nets six days later, which is completely messed up. It has been more than half a month since the last big drop, and during this period, the volatility of Ethereum is only about 100 points. Last week, it maintained a range of less than 40 points. In this weak market, no matter how good or short, there are always new ones, and there is no continuity in the market. Even if there are advantages established in the early stage, as the volatility prolongs, these advantages will naturally disappear. Then, after the volatility ends, there will be no reference for judging the new round of trends. Of course, the advantage of this volatile market is that there will be basically no losses. Repeated long and short positions within the range may not bring big profits, but they can accumulate small profits and are highly secure. Currently, Bitcoin's short-term fluctuations are mainly around 29000-29500, and Ethereum's 1850-1885. In the short term, everyone can just overestimate and undervalue around their respective ranges.
Gold, the price of gold fell by 40 US dollars last Thursday, and rebounded on Friday relying on the support of 1940. Yesterday, the rebound continued to above 1970, recovering most of the decline after last week's sharp drop. If the rebound on Thursday is defined as an oversold rebound correction, then yesterday's continuation can show that the daily line is still in a volatile market, and it did not directly announce the return of the bears because of a wave of sharp drops. Since it is volatile, combined with the trend of the past two weeks, the range is basically locked in 1940-1984, especially upward. If the daily line can effectively break through and stabilize at 1984, Returning to the 2000 mark is a foregone conclusion. This week's non-farm payrolls is expected to help gold prices break the current volatile trend. Back to the short term, the U.S. market has rebounded continuously in the past two days, and yesterday the price directly broke through 1970 with five consecutive positive hourly lines. After the correction in the late stage, it is currently retreating to the short-term support conversion level of 1963. The Asian session will first rely on this position to look at a rebound. The focus is still on the strength of the European session. The upper short-term resistance is 1972. This position is the suppression level tested by the continuous rebound of the U.S. session yesterday. If the European session can break this position, the U.S. session will continue to rise to the 1980 line.
Short-term 1961-1963 long
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!