Bitcoin has been rebounding in the past month. The price stopped falling from the lowest point of 24951 on September 11, and then a big positive line pulled it back to above 26000 points. It only broke through 28000 points on the 2nd of this month. The fluctuations in the whole process were still relatively gentle and not attractive at all. At present, many coin friends said that they could not see clearly whether it would continue to rebound or rebound after the sharp drop in mid-August. In the view of the medal, from the current daily line pattern, the price has maintained a small tentative rise for more than a month, which is an obvious stop-loss behavior, and the K line has completely broken through the short suppression of MA30 and MA60. The MA30 of the daily cycle has formed a bullish pitching guidance trend. The daily MA 60 slowed down and approached the horizontal. The next step will form a two-way trend guidance support. The current daily support is at 26900 of MA30 and the low position of 25990 on September 25. It is necessary to look at the market trend of halving as a phased stop.
In fact, every time the daily K-line breaks through the large-cycle moving average pressure and stands firmly above, we can bravely try to enter the market with long positions. Even if the upward breakthrough fails, the loss is small for the moving average support defense of 26,900 points below, but once the long position is maintained, the whole process will last for a long time, with sufficient gains and profits. This market is game theory, the profit and loss ratio is advantageous, the entry trend is in line with the prediction, and the rest is left to time.
Currently, there are less than 200 days left for Bitcoin to be halved, and it is also approaching the end of the year. The price has not seen another sharp drop in the past two months, indicating that the selling pressure in the market is already very scarce, and the reluctance to sell has caused people to hold on to the currency and wait for it to rise, but the bullish atmosphere that expects a rise has become even stronger.
Of course, we have to talk about the reality. The current world economic situation is very weak and continues to get worse. It is almost hopeless to restore high growth. The high interest rates in the United States have been maintained, and the market liquidity has decreased. There is a lack of sufficient underlying conditions for raising funds to significantly pull up the market to form a super bull market. Moreover, there are many retail investors participating at present, with strong demand for cash and weak ability to take over. It is easy to fail to pull up the bull market. However, it is a good time for staged speculation. It is easier to succeed to stretch more than 10,000 points to attract leeks to take over, create the illusion of a halving bull market, and then sell after obtaining short-term profits.
Through data analysis, the Medal learned that the amount of Bitcoin transferred into the exchange in the past 30 days has reached more than 90,000, but the amount of Bitcoin transferred out has also reached more than 70,000. The net transfer volume is not large, and the market can fully digest it. In general, the selling pressure is small, and the momentum of the upward movement in the start-up phase is stronger, which is easy to resonate with the market. On the whole, the current market is viewed as a staged bottoming out and starting a long-term upward journey. At present, the price is under pressure to consume the locked-in disk near the rebound high of 28,100 on August 30. Breaking through 28,600 on the 2nd of this month, we can bravely see 31,000 points. The short-term support below is 27,200 and 26,900, and the strong support is still at the two cycle stop points of 24,800.
In terms of market participation, the mainstream recommendation is to reserve ETH rather than BTC, because Ethereum is likely to be the engine of the next bull market. Its controlled addresses have reached more than 30 million, accounting for 25%. The risk of holding is low, and there is no need to worry about being trapped. Since there is still a backlog of average-priced orders near 33,000, it is difficult to break through and it is easy to peak and fall again here.
In terms of defensive stop loss, for new positions in this wave of highs, it is recommended to use the trend guide line of 26900 as the separation stop loss, exit the market when it breaks through and wait for the opportunity to add positions below 25000.
For the purchase of high-quality mainstream currencies, today's article continues to recommend DYDX, which has strong resistance to declines in form and has the impulse to rise, making it suitable for adding positions and new entrants to buy.
A must-read for cryptocurrency lovers: The cryptocurrency market requires highly professional knowledge and comprehensive information analysis. If you deal with it alone, you are easily affected by emotions and end up with more losses than wins in the long run. Welcome to follow Medal to help you stand high and pursue cryptocurrency wealth from a professional perspective!