The market continued the rebound as all the major tokens surged again. The BTC market once boosted, then was limited by the MA20 and fell back. From the movement of the 4-hours chart, the pressure at $6,800 was strong, it will cause the market to shock in the range from $5,600 to $6,800. We should notice that the golden cross in the MACD of the daily chart is weak. Usually, 5 days after the golden should be the turning point, now it has been the 4th day. In other words, if BTC cannot break the level of $6,800, the market would fall back in the short term. Focus more on the support at $6,400.
ETH ran as we analyzed, if the support at $120 can be held, another rebound would be likely to show up again. In addition, the golden cross in the MACD of the daily chart does beneficial to the short-term rebound. The pressure is located at $137.5, recent rebounds touched this position several times but still failed. Long is not available if the pressure at $137.5 is not broken.
#BTC #BTCUSD #ETH #ETHUSD #Cryptocurrency
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ETH ran as we analyzed, if the support at $120 can be held, another rebound would be likely to show up again. In addition, the golden cross in the MACD of the daily chart does beneficial to the short-term rebound. The pressure is located at $137.5, recent rebounds touched this position several times but still failed. Long is not available if the pressure at $137.5 is not broken.
#BTC #BTCUSD #ETH #ETHUSD #Cryptocurrency
For more tips, join BitOffer Telegram group.
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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.