Market analysis: Adjustment is approaching, will there be a deep squat?

Mainstream currencies represented by Bitcoin have been rising continuously for more than half a year, but we have not seen the circle become lively because of this. Small currencies still maintain a sideways and volatile trend and have not seen a sharp rise following the mainstream currencies such as Bitcoin. We can't help but ask, is this a real bull market? Shouldn't a real bull market be a time for everyone to prosper?

This round of rise actually has nothing to do with the vast majority of investors, because the currencies they hold have not moved at all, let alone unwinding. The money-making effect of the rise is only concentrated in a few targets, and there is no diffusion effect, so there will be no new investors joining. The increase in USDT has caused local inflation in the currency circle, and funds are huddled together for warmth and are not willing to go long on small currencies. Now the project parties are almost in a state of complete stagnation, which is not conducive to the establishment of a blockchain ecosystem, so I personally think this cannot be considered a bull market.

BTC

At 5 o'clock this morning, BTC once again tried to pull up and attack the $11,700 mark, but the selling pressure was too great and it failed to successfully stand firm at the $11,000 mark, leaving a long upper shadow. After that, it mainly fell back in the next two hours. From the 1-hour MACD indicator, the MACD indicator did not hit a new high in the process of the target's pull-up to a new high, and accompanied by a three-hour decline, it looked like a K-line combination chart of three crows standing on a branch. Pay attention to the support strength of the rising trend line below. If it falls below this point, it may further test the integer mark of $10,000. From the daily level, the target has been running along the upper track of the boll line. It may fluctuate slightly here and wait for the 5-day line to move up. If it is not the 5-day line, it may further attack the pressure level of $11,700.

ETH

ETH failed to get rid of the pressure at $315. At present, the MACD indicator at the daily level is still in a divergence state, and the expectation of a pullback is relatively strong. If the target has a pullback, we will observe whether it can stay above $300. If it can successfully stay above this point, it may use the trend of exchanging time for space to complete the divergence repair. If it falls below this point, it may look for support downward and break through $320 again, and it is expected to rise to $360.

XRP

XRP follows the market adjustment and begins to step back to the upper track of the triangle consolidation. We will observe whether this point can provide effective support. If it can stabilize and rebound at this point, it will rise to US$0.56. If it falls below the upper track again, be sure to exit the market.

LTC

LTC's intention to adjust is already very obvious. The performance of this target has not been strong in this round. The current price of the currency has returned to below the 10-day line. The MACD indicator has crossed downward, and the 5-day line and 10-day line also show signs of a cross. The adjustment expectations are rising, so pay attention to the risks.

BCH

The volume of BCH's pull-up in this round is slightly smaller, and it may now fall back to the support of $450. The daily MACD indicator is above the zero axis and diverges upward. The moving averages are arranged in a bullish pattern. The trend is not bad and is still bullish. Be careful to leave the market if it loses $450.

EOS

EOS failed to create a new high and fell along with the market. It has now fallen below the 5-day line. I have not been optimistic about this target before. I personally think that this target may fall back to the important support level of $6.9. Observe the support strength of this point. If it stabilizes at this point, it will further attack the pressure level of $7.6. If it loses this point, it will drop to $6.5. Pay attention to the risks.

BNB

BNB continued to fall and lost the 5-day moving average. The MACD indicator is still in a divergence state. Pay attention to the gains and losses of the 5-day moving average. If it cannot be pulled back as soon as possible, the adjustment period will be extended. Pay attention to the risks. Reduce positions if it falls below the 5-day moving average, and exit the market if it falls below the 30-day moving average again.

The author’s views are for learning and communication only, are not intended as investment recommendations, and do not constitute an investment basis!

Author: Talking about coins and gold