Since yesterday's market touched the bottom $6,500. it has been in a shocking upward during the day. Later in the afternoon, the market continued to rise, reaching a maximum of around $7,380, and it is currently falling to around $7,150 then consolidate.
On the four hours chart, the current market has been standing above the mid-rail and is in an oscillating stage. The MACD runs like a golden fork below the 0 axis. The KDJ indicator diverges upwards. But the RSI shows overbought and there is a big possibility to slip down. overall, the trend has not been completely reversed. the price will move from $7,300-$7,000 these days. it depends on which side has stronger power. personally I would say most of the investors or institutes will withdraw funds from the market for the year-end report or use. So the price I predict at the end of the year is around $6,500 unless there is big news coming out. So be cautious. don't trade the spot. it is kinda boring. while it is a good time to trade contracts back and forth in the short term.
My suggestion
short $7,200-$7,150.
Entry $7,000-$7,100.
Target $100-$150
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On the four hours chart, the current market has been standing above the mid-rail and is in an oscillating stage. The MACD runs like a golden fork below the 0 axis. The KDJ indicator diverges upwards. But the RSI shows overbought and there is a big possibility to slip down. overall, the trend has not been completely reversed. the price will move from $7,300-$7,000 these days. it depends on which side has stronger power. personally I would say most of the investors or institutes will withdraw funds from the market for the year-end report or use. So the price I predict at the end of the year is around $6,500 unless there is big news coming out. So be cautious. don't trade the spot. it is kinda boring. while it is a good time to trade contracts back and forth in the short term.
My suggestion
short $7,200-$7,150.
Entry $7,000-$7,100.
Target $100-$150
Follow to receive daily bitcoin analysis