3.8 Morning Analysis



Over the weekend, Bitcoin's price action was relatively weak, with the moving averages showing a clear death cross suppression. The 1-hour chart shows a large bearish candle breaking below support, but the rebound is weak. The KD indicator is hovering at low levels, lacking any signs of a rebound. Coupled with the weekend's light liquidity and macroeconomic negative sentiment transmission, market risk aversion has increased, and there is a lack of positive catalysts. Short-term resistance is at 68524, support at 66850. If the recent low is effectively broken, downward momentum will further accelerate. Over the weekend, it is recommended to buy high and sell low.

Trading suggestion: 67800-68300 range, target 66800-66300.$ETH $BTC
ETH-1,7%
BTC-1,76%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin