OKEx Research | Bitcoin hits a new all-time high, with the short-term strength and weakness boundary focusing on 33,500

OKEx BTC/USDT Perpetual Contract:

As shown in the figure, the price of Bitcoin finally held the short-term support of 30,600 last night, and broke through the short-term downward trend line, and the short-term trend returned to a strong pattern. However, the volume of transactions in the recovery has not been significantly enlarged, indicating that the funds actively involved in this wave of recovery are relatively limited. Just before the press release, there was a short-term rapid pull-up and broke the historical high again, but it was not able to rise high afterwards, indicating that the sustainability of the active intervention of the bulls is not strong at present, and the risk of chasing the rise in this state is very high. It is recommended to pay attention to the support of 33,500 next. This price can be regarded as the latest short-term strength and weakness dividing line. If it is not broken, it will be in a super strong state in the short term, and if it is broken, it means that there is an expectation of weakness in the short term.

Support: 33500--32200--30600

Resistance: 35900--38000--40000

OKEx ETH/USDT Perpetual Contract:

As shown in the figure, ETH confirmed the validity of the 983 support level last night, and then rebounded with shocks. From the perspective of the volume of the rebound, there is no obvious increase in volume. Compared with the volume of the previous few days, there is a significant relative shrinkage, indicating that the active attack force of the bulls is not strong. In the past, this trend state easily caused the price to fluctuate. It is recommended to pay attention to the 1135 line for short-term resistance. It is not recommended to buy blindly at high levels before it is clearly above it. The support below continues to pay attention to the vicinity of 983, which continues to be regarded as the short-term strength and weakness dividing line.

Support: 1057--983--938

Resistance: 1135--1200--1250

OKEx DOT Spot

DOT has been relatively weak in recent days. The reason why it is relatively weak is that it is not really weak. After all, it still maintains the bullish trend of rising lows, so this weakness is not worth worrying about. From the perspective of trading volume, it has obviously shrunk recently, which also shows that the market is temporarily in a wait-and-see mood. It is not advisable to operate frequently. The more you do, the more mistakes you make, and the less you do, the fewer mistakes you make.

For short-term support, you can first pay attention to the rising trend line in the figure. If even this support cannot be broken, it only means that the strong pattern is very intact. Taking a step back, if this price level is broken, you need to pay attention to the 8.0 first-line support below. Any adjustment above this price level can be regarded as a benign adjustment, and you should not be overly pessimistic.

Support: 9.60--8.80--8.40

Resistance: 10.00--10.50--11.00