Another Circuit breaker was triggered, and it was the fourth time. To Cryptocurrency market, the relevance between the American stock market and the cryptocurrency market is weakened due to the BTC market did not follow the American stock market to drop down while it experienced a rebound. After reviewing the global assets, since the safe-haven capitals kept flowing into the market, USD become the unique selection. In the short-term, the BTC market hovered around the level of $5,000. As the battle between the longs and shorts is quieter, a Doji showed up, which means the turning points of the market is about to happen. In the daily chart and 4-hours chart, the MACD kept running below the zero axis, we should be careful and focus more on the support at $4,800.
Doji was also presented in the ETH market, the highest point of the rebound reached $119.86. It still cannot break the pressure at $120, and even the MA5. As the moving averages limited the candlesticks, a bearish market remained as we analyzed before. Long is still not available. Even the ETH upgrade brings it an optimistic expectation, but in this case, shorts is the main force.
#BTC #BTCUSD #Cryptocurrency
Doji was also presented in the ETH market, the highest point of the rebound reached $119.86. It still cannot break the pressure at $120, and even the MA5. As the moving averages limited the candlesticks, a bearish market remained as we analyzed before. Long is still not available. Even the ETH upgrade brings it an optimistic expectation, but in this case, shorts is the main force.
#BTC #BTCUSD #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.