Under the strong boost of the "institutional bull" last week, Bitcoin broke through the $60,000 mark in one fell swoop, and the bulls continued to rise to the $61,800 area. After a somersault, the profit-taking of the bulls and the severe sell-offs by the dealers led to the continuous dive of Bitcoin, which once fell to the line of 53,272.7 US dollars, and the decline was close to 9,000 US dollars in just two trading days. It can be seen that the decline is still relatively strong. Teacher Tan has always emphasized that "risks come from rising, and opportunities come from falling." Any decline will usher in a good opportunity, but often many friends are scared away by this momentum. Stimulated by the constant positive news, Bitcoin bulls began to attack, hit the $60,000 mark several times and fell back, but the bullish trend remained unchanged, and has remained at a high level until today.
Tan Yu Kai of the Currency Retail Alliance believes that: Morgan Stanley has launched three Bitcoin-related fund investment channels for wealthy customers, and the chief investment officer of Citi Private Bank supports Bitcoin. These positive actions indicate that the long-term investment value of Bitcoin has begun. Accredited by American Banker. Generally speaking, the investment style of banks is relatively conservative, and their asset allocation is more for the purpose of long-term investment. The investment cycle is usually several years, which is significantly different from the popular Bitcoin speculative style in the market before. In addition, Morgan Stanley and Citi Private Bank injected a large amount of long-term value investment funds into the market by providing bitcoin exposure for their high-net-worth clients, which may make bitcoin more held by firm investors, leading to its The circulation is gradually shrinking, which drives the price of Bitcoin to rise further.
At the same time, the U.S. government has recently signed the hotly debated $1.9 trillion rescue bill, which also includes a $1,400 distribution plan for citizens. The U.S. government's continuous monetary easing "water release" policy has caused most retail investors to abandon holding depreciating fiat currencies and switch to assets such as Bitcoin, so it will bring benefits to the investment market in the past year. If there is a continuous flow of funds into Bitcoin, it will maintain and prolong the bull market of this round of the market and bring more user traffic, which will undoubtedly be beneficial to the price of Bitcoin.
This week, there are shocks and surprises. The market is full of twists and turns, and dealers repeatedly wash their hands. Retail investors are always the ones who get hurt. No matter how long or short, there are always people who have liquidated their positions in the market, and no one knows if you are among them. When talking about the contract, many people think of liquidation, but how many people can correctly understand the contract, why liquidation? From the beginning to the end, Mr. Tan emphasized that the first principle of investment is to control the risk well. Whether it is spot or contract, if the risk is not well controlled, there is no profit. The second is mentality. Excessive pursuit of profit and infinite greed will lead you into the abyss sooner or later. Spot is the most basic operation like a stock, you can hold it when you buy it, and sell it when you reach your expected point, but Mr. Tan still can't figure out why so many people lose money. In terms of contracts, many friends just heard that their positions will be liquidated, but there are also many people who will liquidate their positions. In real life, what many people often hear and remember is the bad side, while the good side is always forgotten. The 28/20 law of the financial market remains unchanged, someone loses, and naturally someone loses, not to mention being in the currency circle. Only by correctly understanding the market and yourself can you effectively control the market.
Bitcoin (BTC): The price of the currency fell sharply this week, and the overall market showed a "V"-shaped trend. Fortunately, at the end of the week, the bullish trend remained. On the daily line, the price of the next day will receive a cross star, BOLL is in a shrinking state, and the price of the currency is stable and running above the moving average. The upper part focuses on the resistance of the 60,000 US dollar barrier. Once an effective breakthrough will continue to set a new high, while the lower part focuses on MA5/ The intersection of MA10 is in a support situation around $57,500. The short-cycle KDJ technical indicators are running moderately, and the attached MACD continues to increase in volume. It is expected that Bitcoin will maintain a high level of adjustment.
The four-hour and hour-line trends are similar, and BOLL is in a close flat state, showing a volatile trend as a whole. The more such a market is, the more uncomfortable it is. The longer the turbulence, the greater the explosive market. In the short term, focus on the resistance around $59,000 at the top, and support at $57,500 at the bottom. To sum up: this week’s news shows that Meitu continues to buy ether to boost the market, and then Morgan Stanley issued a statement and the Federal Reserve’s interest rate decision was dovish, which boosted the currency price to a certain extent. From a technical point of view, Bitcoin bulls have the upper hand. The short-term trend of Bitcoin’s oscillating rise is mainly caused by the support of Ethereum bulls. It can quickly break the shock pattern in the short term. In the short-term today, we are optimistic about the adjustment of the range of 57500-60000 US dollars. In terms of operation, the teacher recommends maintaining a low-multiple trend and breaking positions to follow the trend. If you are uncertain about the interpretation of technical market and news, or you have a set list, you can discuss it with Mr. Tan. Subscribe to the official account; Currency Circle Retail Alliance.
Short-term upper resistance level: 59500/60000 Short-term lower support level: 58000/57000
Ethereum (ETH): The short-term bulls of Ethereum are really strong, especially after breaking through the $1820 mark, the bulls continue to go higher. No matter how bitcoin falls, ether has maintained an upward trend. This momentum is a bit like when the previous bull market broke through the 1800/2000 mark, ether is likely to go out of its own market again, and Teacher Tan has been looking forward to it. In the short term, focus on the resistance around this week's high resistance of $1,850 at the top, and the support around $1,800 at the bottom. In the short term, Ethereum has an upward trend. For today's transaction, Mr. Tan's suggestion is to focus on lows and multiples, and do not break or chase.
Short-term upper resistance level: 1840/1850 Short-term lower support level: 1810/1790
Recently, many spot friends came to me and found that they operate a variety of currencies, which makes people dazzled. Teacher Tan just wants to say that if you are here for speculation, you can operate some small currencies (XRP, XLM, etc.), if you It is a serious investment suggestion to play with major mainstream currencies (BTC, ETH, LTC, etc.), large mainstream currencies have a large room for growth and large profits for value preservation. Don't buy too much in stock, as it will easily distract yourself. This week, the mainstream currencies ushered in a big rise, and the altcoins also reached new highs, especially FIL. You can focus on it in the later stage. At the same time, you can pay attention to the two currencies BCH and DOT. If they fall back, you can continue to buy and hold them.
Many investment friends often ask me about market strategies from morning till night. Those who are long are afraid, those who are short are also afraid, and those who have not entered the market are still afraid. Those who lose money are afraid of not getting back their capital, and those who make money are afraid of missing the point. To put it bluntly, they do not understand the market and have no confidence in themselves. There are only so many market data and only a few technical indicators. It is nothing more than a combination of each other, and then the most likely direction can be obtained. But more investors are like headless chickens. They don't know why they buy up and buy down, they don't know how much the loss needs to be stopped, and they don't know what point to get when they make a profit. It’s okay to meet a powerful analyst. If it’s not for the consequences, you can imagine, so investing is more about making choices. Many investment friends told me that the currency circle is too risky to make money. In fact, it’s not that you can’t make money. It's because of the money that you didn't choose the teacher that suits you. If you encounter troubles on the way of currency market investment; you can't find your direction; you are in a loss for a long time, maybe you can talk to me. Leaving aside whether you can cooperate or not, the most important thing is to be able to untie your knots. Follow the author Tan Yu Kai, get daily technical analysis of BTC, ETH, EOS, BCH, LTC, XRP and other market conditions, and provide real-time order strategy guidance.
This article comes from the author Tan Yu Kai, please indicate the source when reprinting, please respect personal opinions, and do not plagiarize. The intraday market is changeable, and the article is time-sensitive and lagging. No express or implied guarantee is provided for the accuracy, reliability or completeness of the contained content.
(Text/Talk about Yu Kai)
