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The impact of weekly BOLL upper track suppression on the market:
In the Bitcoin weekly chart, upper bound suppression usually refers to resistance when the price touches or approaches the upper bound of the Bollinger Bands (or other trend channels), which may have the following consequences:
Short term pullback pressure increases: The upper track itself is an important resistance level in the technical aspect. If multiple shocks fail to effectively break through, the bullish momentum may weaken, and prices are prone to fall back, adjusting towards the middle or lower track direction.
The probability of consolidation and volatility increases: If the market sentiment is cautious, prices may fluctuate around the upper limit at high levels, forming interval fluctuations, waiting for further balance of long and short forces or news driven.
Failure to break through may trigger panic selling: If the upper track suppression is significant and accompanied by a decrease in trading volume, investors may doubt the upward trend, and some funds may choose to take profits, leading to a rapid short-term decline in prices.
It should be noted that technical analysis is not absolute, and the price of Bitcoin is also influenced by multiple factors such as macroeconomics, policy regulation, and market sentiment, and the actual trend may be subject to variables.
Technical analysis:
1. BTC originally had a volatile daily market, but after breaking through 110000, it persevered all the way to around 120000. Currently, the monthly pressure is around 130000, and the weekly upper limit is around 120000. If it cannot break through, it will fall back to the key level of around 100000 and shake to build a bottom.
2. After the weekly closing of ETH, the middle track of 2100 did not fall below. However, after the closing, the monthly middle track was broken and suppressed near the upper track of 3000 on the weekly line. The probability of temporary breakthrough is still very small, and it is necessary to fall back. The key level below is around 2800-2600.
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Disclaimer: The above content only represents the author's personal opinion and is for communication and sharing purposes only. It does not represent the position or viewpoint of AiCoin and does not constitute any investment advice. Based on this investment, there may be external contacts, which have nothing to do with AiCoin, and the consequences shall be borne by oneself.
