Last week, the U.S. dollar rose against the market despite various bearish conditions, putting continued pressure on the price trend ofBTC.
First of all, the U.S. CPI data released last Wednesday showed that inflationary pressures continued to cool, but the dollar index only rebounded slightly, and Bitcoin was basically flat in the shock that day.
Bitcoin's positive closing yesterday shows that the lower support touched is effective, so you can try to start the bulls again here, because the market may not be able to withdraw to the desired position, or it may start early.
The daily chart shows that Bitcoin broke through the support of the 26700-27000 area (the neckline of the potential head and shoulder top) on Friday, but after a brief decline, the V-shaped reversal regained the support, making the bearish head and shoulder top pattern confirmation failed.In the short term, if it remains stable, the 26700-27000 area will rebound.
Explanation of the second picture
BTC bullish is based on the following points
1. The daily adjustment of Bitcoin has touched the position of 38.2% of the golden section, and it has also pierced here during the intraday period.
2. According to the research and judgment of the wave trading system, the current three-wave adjustment of C wave 2 has occurred.
3. The upper pressure is 30,000~31,000, and the lower support is 26,600~25,300.
The analysis is relatively clear, and those who like it can like it. Thank you all for your support.
First of all, the U.S. CPI data released last Wednesday showed that inflationary pressures continued to cool, but the dollar index only rebounded slightly, and Bitcoin was basically flat in the shock that day.
Bitcoin's positive closing yesterday shows that the lower support touched is effective, so you can try to start the bulls again here, because the market may not be able to withdraw to the desired position, or it may start early.
The daily chart shows that Bitcoin broke through the support of the 26700-27000 area (the neckline of the potential head and shoulder top) on Friday, but after a brief decline, the V-shaped reversal regained the support, making the bearish head and shoulder top pattern confirmation failed.In the short term, if it remains stable, the 26700-27000 area will rebound.
Explanation of the second picture
BTC bullish is based on the following points
1. The daily adjustment of Bitcoin has touched the position of 38.2% of the golden section, and it has also pierced here during the intraday period.
2. According to the research and judgment of the wave trading system, the current three-wave adjustment of C wave 2 has occurred.
3. The upper pressure is 30,000~31,000, and the lower support is 26,600~25,300.
The analysis is relatively clear, and those who like it can like it. Thank you all for your support.
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