Bitcoin hits the MA support. $7,000 is the average market cost
I believe that my friends who follow me know that I said in the early stage that the $7,000 front line is a watershed of long and short front lines. Market break $7,000 can directly go short. After the market broke $7,000, the market for the two or three days was also in a weak state, with a minimum of $6,433. Then the market did not give the bears a chance to decrease the price. It quickly rebounded directly exploding thousands of points up to $7,427.
From a technical point of view, yesterday's bottom rebounded basically eating all the profits of the shorts after nearly 5 days. At present, the day level market is running above the moving average. The short-term moving average low dead fork shows signs of turning upwards. MACD is running near the 0 axis. The KDJ low gold fork diverges upward. Bollinger shrinks and waits for the market to continue to break out.
Taken together, the market rushed a thousand points higher in the short-term yesterday, seriously overbought. At present, there is a retracement in the short-term.
Operationally, I suggest that the short-term entry price is around $7,150, the stop loss is $7,250, and the target is $7,000.
Everyone controls the risk of the position while operating.
From a technical point of view, yesterday's bottom rebounded basically eating all the profits of the shorts after nearly 5 days. At present, the day level market is running above the moving average. The short-term moving average low dead fork shows signs of turning upwards. MACD is running near the 0 axis. The KDJ low gold fork diverges upward. Bollinger shrinks and waits for the market to continue to break out.
Taken together, the market rushed a thousand points higher in the short-term yesterday, seriously overbought. At present, there is a retracement in the short-term.
Operationally, I suggest that the short-term entry price is around $7,150, the stop loss is $7,250, and the target is $7,000.
Everyone controls the risk of the position while operating.
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