As the Dow Jones futures index plunged, the market experienced a further adjustment. The declines of major tokens increased, which might cause a panic sell to happen. As for now, the BTC market has broken the MA5, a bearish market was presented again. We have mentioned several times that the downtrend remained. In the 4-hours chart of the BTC market, the MACD is still weak so the rebound will be limited. In the short-term, the market is likely to run between $4,800 to $6,000. If the support at $4,800 can be held, each dip is available for investors to buy in, and when the rebound comes, selling some of your positions will be a good strategy. Otherwise, if the BTC market breaks the level of $4,800, a dead cross would show up, and the market would seek another lower level to support it.
The pressure of ETH is significantly located at the level of $120. As time goes, the moving averages dropped down, it will limit the rebound space further. Being rational when you tend to enter the market because the market is still on the downtrend while the shorts are still the main force. Before it breaks the pressure at $120, long is not available.
The pressure of ETH is significantly located at the level of $120. As time goes, the moving averages dropped down, it will limit the rebound space further. Being rational when you tend to enter the market because the market is still on the downtrend while the shorts are still the main force. Before it breaks the pressure at $120, long is not available.
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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.