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After Bitcoin fell to around 59000, it kept pushing people to buy low and buy long until they reached 66000. It wasn't until Bitcoin hit the strong pressure level above that they turned bearish again near 66300. At that time, Ethereum 1820 went short all the way and fell below 1700. This market fluctuated back and forth, and it was still very comfortable to take orders.
After the last hard speech by Federal Reserve Chairman Walsh, he also stepped back as scheduled. The key position for the next step back is not yet in place. Currently, the daily line has hit bottom, but in terms of the monthly cycle, Bitcoin has not hit bottom. Ethereum's monthly line shows a large cycle oscillation without a bull bear distinction. Ethereum's performance is extremely poor, and the monthly line level will continue to decline deeply. In the short term, the 1500 level has already stabilized and hit bottom.
Intraday analysis:
If there is a bearish trend pushing down to around 61000 when BTC is suppressed above 65000, you can continue to lay out a medium-term order. If it breaks through 65000 above, there is a chance to rise again around 67000. The intraday insertion is to buy in the range of 61000-61500. Short positions can be considered to enter at the range of 66700-67000, which is a conservative and stable order.
Short term suppression near 1765 above. If there is a breakthrough, consider short selling around 1820-1840, and steadily enter the position of 1650-1630 below for long positions.
This is a daily opinion, including a suggestion to live stream at night to explain the market in detail!
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Disclaimer: The above content only represents the author's personal opinion and is intended to assist investors in understanding information related to the capital market. It does not constitute any investment advice and does not represent the position or viewpoint of AiCoin. The market is risky and investments should be made with caution.
