BTC: The trend has not been completely reversed. be patient
Since yesterday's market touched the bottom $6,500. it has been in a shocking upward during the day. Later in the afternoon, the market continued to rise, reaching a maximum of around $7,380, and it is currently falling to around $7,150 then consolidate.
On the four hours chart, the current market has been standing above the mid-rail and is in an oscillating stage. The MACD runs like a golden fork below the 0 axis. The KDJ indicator diverges upwards. But the RSI shows overbought and there is a big possibility to slip down. overall, the trend has not been completely reversed. the price will move from $7,300-$7,000 these days. it depends on which side has stronger power. personally I would say most of the investors or institutes will withdraw funds from the market for the year-end report or use. So the price I predict at the end of the year is around $6,500 unless there is big news coming out. So be cautious. don't trade the spot. it is kinda boring. while it is a good time to trade contracts back and forth in the short term.
My suggestion
short $7,200-$7,150.
Entry $7,000-$7,100.
Target $100-$150
Follow to receive daily bitcoin analysis
On the four hours chart, the current market has been standing above the mid-rail and is in an oscillating stage. The MACD runs like a golden fork below the 0 axis. The KDJ indicator diverges upwards. But the RSI shows overbought and there is a big possibility to slip down. overall, the trend has not been completely reversed. the price will move from $7,300-$7,000 these days. it depends on which side has stronger power. personally I would say most of the investors or institutes will withdraw funds from the market for the year-end report or use. So the price I predict at the end of the year is around $6,500 unless there is big news coming out. So be cautious. don't trade the spot. it is kinda boring. while it is a good time to trade contracts back and forth in the short term.
My suggestion
short $7,200-$7,150.
Entry $7,000-$7,100.
Target $100-$150
Follow to receive daily bitcoin analysis
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.