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Click on the link to enter Tencent Meeting: https://meeting.tencent.com/p/7890471408 The impact of daily BOLL upper track suppression on the market: Short term resistance level: When the price of Bitcoin rises near the daily upper limit, it often faces significant suppression. As the upper limit of short-term price fluctuations, the upward trend may lead some investors to believe that they have reached a temporary high and choose to take profits, resulting in an increase in sell orders and difficulty in sustained price breakthroughs, which may lead to a pullback or sideways volatility. • Warning of overbought risk: When Bitcoin hits or approaches the upper limit, it often reflects that the market is in a short-term overbought state. Cryptocurrencies fluctuate violently, and if they rise too quickly in the short term, the bullish energy will be excessively consumed, the upward momentum will weaken, and the probability of a pullback will increase. This suppression can serve as a risk signal, reminding investors to be vigilant about chasing higher prices, and some funds may turn to wait-and-see or slightly reduce their positions. Assist in judging trend changes: If Bitcoin fails to break through the upper track after multiple shocks and the middle track remains flat or downward, it may indicate a slowdown in the upward trend, or even a turn towards consolidation or decline. On the contrary, if there is a breakthrough in volume after reaching the upper track, it may initiate a new round of upward trend, indicating that the bullish power is still strong and the price may move towards a higher range. It should be noted that Bitcoin is greatly affected by news coverage and needs to be judged comprehensively based on other indicators and market sentiment to avoid misleading operations with a single indicator. BTC was predicted to break through 110000 to 130000 last week, but 110000 did not stabilize and began to fall back. Currently, the daily upper track is suppressing the decline, with key levels of 105000 and 103000. If 100000 is broken, the target will be around 99000 After the weekly closing of ETH, the mid track did not fall below, but rebounded to the daily upper track around 2640 to suppress, and 2500 was once again dropped below the next target of around 2000. So, how do we proceed next? Teacher Zhao Yun, who has 9 years of practical trading experience in the cryptocurrency industry, will provide a detailed breakdown for everyone. Welcome to the live broadcast room to check in! Join the Three Kingdoms College Exchange Group to receive more services: 1. Real time troubleshooting (online one-on-one question answering and sorting) 2. Professional technical analysis and theoretical learning 3. Construction and improvement of trading system 4. Live streaming courses every day, contract termination, real-time order making, to help you successfully land! Official QQ group: 579358784 Tencent Meeting ID: 789-047-1408 The live broadcast room will be broken down in detail. 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.
