Bitcoin's decline is over, have you bought the bottom today? In yesterday’s video content, in view of the panic in the market, we launched a column to tell investors that by comparing the data of the three rounds of the bull market, we told investors that the bull market is not over yet, and there is a lot of room for the future. Bitcoin is ushering in a strong rebound today. Hope Our videos are helpful for everyone on the way to accumulating and holding Bitcoin.
Long-term rating: Overweight
Long-term rating: Overweight
Today's point of view
Bitcoin accumulation
Small market capitalization cryptocurrencies wait for an opportunity to adjust positions
Today's point of view
In the early hours of this morning, Bitcoin fell rapidly and rose rapidly after touching our extreme red support line, forming a V-shaped rebound.
We focus on the 4-hour level. Bitcoin’s downward momentum continues to exhaust, and the new lows set in each wave continue to decrease, and the RSI and MACD have formed divergences, which indicates the end of the decline.
Above, Bitcoin still needs to break through the resistance level of $52,700 to $53,700 and the important resistance level of $57,700 before it is expected to start an accelerated rise.
We turn our attention to the monthly line of Bitcoin. After recording 6 consecutive positive monthly lines, Bitcoin has a higher probability of closing down this month. It is expected that there will be a large lower shadow line under the K line, and the monthly level RSI will be partially alleviated by the correction , leaving more room for Bitcoin’s next rise.
Bitcoin's market capitalization ratio is still likely to test the 50% important support level again. We believe that during the rebound of Bitcoin's bottoming and small market capitalization cryptocurrencies, investors should seek opportunities to invest in mainstream cryptocurrencies when Bitcoin's market capitalization ratio reaches about 50%. Take Profit Swap.
Investors can continue to pay attention to the rise of Ethereum. Ethereum is at an important resistance level against Bitcoin. If Ethereum cannot break through the blue trend line, it is expected that Bitcoin will outperform Ethereum in the following market. Otherwise, then Means Ethereum will outperform Bitcoin.
The decentralized finance index has completed the confirmation of breaking the trend line in the process of following the decline of Bitcoin. We expect that relative to mainstream cryptocurrencies, the structural support for the continued rise of the decentralized financial sector is still complete.
Investors should pay attention to the latest situation of the epidemic. A double variant of the virus appeared in India. On Sunday, India added 349,000 new confirmed cases of the new crown, and the number of new cases exceeded 200,000 for ten consecutive days and hit a record high. Whether the new crown virus in India will spread and affect other regions will be one of the risks that need to be focused on next.
At 2:00 a.m. Beijing time this Thursday, the Federal Reserve will announce interest rate resolutions and policy statements. It is expected that the Fed will maintain the current loose policy unchanged and will not release tightening expectations and signals.
