The price rebounded and kept going up, and is expected to break yesterday's high

Emin Gun Sirer, associate professor at Cornell University, said that the vast majority of cryptocurrencies do not represent any technological advancement, but are simply a money grab. Stablecoins such as Libra hope to compete with major fiat currencies such as the US dollar and the euro without creating anything new. The vast majority of crypto projects call their initiatives new payment methods, and Bitcoin (BTC) pioneered this more than a decade ago. Most crypto projects are not creating world-changing technology, but are following the same model proposed by Satoshi Nakamoto

Market Review

BTC's market yesterday was a wide range of fluctuations. After the price hit the support at 8400 and rebounded, the situation has been pulling up and down. In the morning, the upward movement was blocked and fell back to 8650 and rebounded. Then it entered a volatile rhythm near 8750. In the evening, the price rose again. After the price reached the high point near 9060, it quickly fell down, but stopped at 8700. Today, the price hit the support of 8650 and rebounded again. As of 6:30, the price was at 8830.

ETH was also affected by Bitcoin yesterday. It rose overnight, and then began to fall back near 217. The overall trend is still a volatile posture, but the price is running within a dozen points during the day. As long as you enter the market, you can still get good returns. So far, the price is around 211.7.

BTC Market Analysis

From the daily chart, yesterday's trend ended with a Yin cross, indicating that there are strong resistance and support areas on both the upper and lower sides, limiting the price to run within the range. At present, the Bollinger Bands remain open upward, and the upward momentum of prices has weakened. It has fallen back into the Bollinger Band track. The price fluctuates near the upper track position. The five-day moving average and the ten-day moving average below continue to rise, forming a first-line support area below. From the four-hour chart, the price fluctuates near the five-day moving average and the ten-day moving average. The five-day moving average hooks up and crosses the ten-day moving average to form a golden cross, forming a near-point support on the downward side. The attached MCCD fast and slow lines are slightly downward above the zero axis, and the Stcoh fast line is flat, and the two lines are close to form a golden cross in the trend, and the RSI hook keeps slightly upward. The overall trend is currently a shock upward trend. The operation suggestion is mainly low-long, supplemented by high-short. Focus on the first line of support below 8650-8600, the second line of support is at 8400, and the upper resistance is 9000-9060. The second line of resistance is 9100-9150

BTC operation strategy:

1. When the price falls back to 8700, enter the long position, stop loss 50 points, take profit 100 points

2. When the price rebounds to around 9,000, enter the market with a short order, stop loss of 50 points and take profit of 100 points

ETH Market Analysis

Compared with the increase in Bitcoin, Ethereum is slightly weaker, but the increase is also 0.91%. The price rose around 6 o'clock, bringing the price back above 210. The price is currently in a slow upward phase and is expected to test further upward. From the four-hour chart, the Bollinger Bands are gradually closing, and the market rebounded after breaking the middle track. The current price is near 212, above the five-day moving average and the ten-day moving average, and is tentatively stabilizing. The bulls are beginning to gain an advantage. The RSI and Stochgo hooks in the attached figure are both upward, and the overall trend is a shock upward, but the current price upward momentum is insufficient. Fortunately, the decline is not deep, so the operation is still recommended to be long. Pay attention to the resistance of 215.6-217 above, the second-line resistance is in the 220-224 area, and the support below is in the 210-207 area.

ETH operation strategy:

1. Long orders near the 211.5 position, stop loss 3 points, take profit 4-6 points

2. Short order near the rebound position of 215.5, stop loss 2 points, take profit 4-5 points

The above is only my personal opinion. Investment is risky and you should be cautious. If you still cannot accurately grasp the market trend and point, it is recommended that you consult the author.

Author Ding Jiayong's message: What has passed is time, what has been seen is the market, what has been tasted is profit and loss, what has been savored is gain and loss, what has been accumulated is experience, and what has been achieved is realm. A good fighter does not have illustrious military exploits! The market trend is ever-changing. Only by keeping pace with the times and following the trend can we gain a foothold. A flower cannot support the beautiful spring, and the power of one person cannot change the market trend. We only need to step on the train to the end when the opportunity comes, and we can get the profit we want.

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