The market remained a weak adjustment as the volume was low. However, even the stock market plunged, but it did not happen on the BTC market. As for now, in the daily chart, the MA5 above and the MA10 below formed a narrow shocking range, but it won't last for a long time. In the short-term market, the BTC market defended at the level of $5,600. The market would be safe if this position can be held. Since the market is adjusting, being patient and focus on the support at $5,600 will be a better choice.
The performance of ETH is also weak as the buyers are thin. The short-term market is led by the shorts. However, we should notice that the low level of the ETH market was accurately located at the support at $120. Due to it is the last defense in the short-term market, if it can be held, a golden cross will be formed in the MACD. If so, the rebound would be likely to come. Focus more on the support at $120.
#BTC #BTCUSD #ETH #ETHUSD #Cryptocurrency
The performance of ETH is also weak as the buyers are thin. The short-term market is led by the shorts. However, we should notice that the low level of the ETH market was accurately located at the support at $120. Due to it is the last defense in the short-term market, if it can be held, a golden cross will be formed in the MACD. If so, the rebound would be likely to come. Focus more on the support at $120.
#BTC #BTCUSD #ETH #ETHUSD #Cryptocurrency
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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.