Anbbit BTC analysis | BTC Fluctuates Repeatedly When the New Highs Come?
The market did fluctuate significantly this week. On Monday, the price of BTC dropped to around 30,000 USDT. It did bring a lot of panic to the market in the short term, but another small group of people saw a good opportunity to buy bottoms at 31,000 USDT and starts to a lot. The closing volume was the day when the biggest volume occurs in the past six months, after which the price rebounded rapidly.
On Tuesday, the market should have formed the bottom, but it was unexpected that the market fell again on Tuesday. Fortunately, it did not fall below the low point on Monday. After that, there is a surge in 2 days, with the highest breaking through 40,000 USDT. At this time, it generally believed that it would break through 41900 USDT soon.
The situation on Friday was relatively tragic. There would be a few people who had liquidated their positions. Because the price has risen to around 40,000USDT on Thursday, it believed that after a slight rally it should rise again. As a result, the market has a cascading trend on Friday night. The support levels were decisively broken down one after another, then the market finally began to stabilize near 34,000USDT. This position happened to be the support near the 233-day MA below, and the market began a strong rebound. By Saturday morning, the market had risen to around 37,500 USDT.
This week’s trend actually contains some rules. This rule is the main trend operation. It is relatively simple and rude, which aims to create panic, and then obtain cheap chips at a low position. Finally, the price will quickly increase. Those who have already sold at a low level will be regretful for the selling. When they wanted to buy it again, they would find that the price was already high.
At present, There is no doubt that the long-term trend of BTC is still bullish.
Then what is the time it can break through the previous high? This is indeed difficult to predict, but as long as the current 30,000 USDT will not be broken, it should be more reliable to break through the previous high. Generally speaking, the new high should come at the end of the month.
Next, the operation idea of the market is temporarily operated with more shocks.
Anbbit analyst idea
Long orders can be bought near 34,000 USDT, and once the price is above 34,000 USDT, please buy cautiously. When it is above 38,000 USDT, you can choose to sell. To put it bluntly, it is to buy support near 34,000 USDT and then sell near 38,000 USDT pressure. If once 34000 USDT is broken, you can increase your position by around 30,500 USDT
(This is only a reference, but not the investment suggestions)
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