Market analysis: It is difficult to change the stock game pattern in the short term

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There has been no strong main line in the market recently. The production reduction of LTC has not made it have a stunning performance, nor has it brought too much incremental funds to the market. We have seen that there are no targets that have risen continuously in the market. Now is still a period of stock game. The market may be waiting for the G20 summit at the end of this month, when the leaders of China and the United States may meet. Don’t forget that honey to one person is poison to another. If there is news of easing, it may be a disaster for the cryptocurrency market.

BTC

BTC has reached our important pressure level of $8,300, and has since fallen back slightly. It is currently closing at $8,224. The rising trading volume is in a shrinking state, which means that the rise is unsustainable. The target will either fluctuate or adjust downward. I think there may not be a clear direction choice before the end of June. The overall trend is mainly volatile. If it breaks through $8,300 in large volume, the target will set a new high and be well defended. If it falls back below $8,000 again, it may quickly fall below $7,500 to form a head and shoulders top. Pay attention to the risks.

ETH

ETH still failed to pass the important barrier of $260 and is still fluctuating at this point. Judging from the current trading volume, it is difficult to pass it in one go, unless there is a large-scale pull-up. Breaking through $260 will create a new rebound high. I personally tend to believe that the volatile trend will not change in the short term, and it will fall back to the support level of $245 in the near future.

XRP

XRP has not had any hot catalysts and has been lukewarm. It has now returned to the 5-day line, and the 5-day line has turned upward. The trading volume continues to shrink, and there is no sign of capital intervention. It is still fluctuating in the range of US$0.37-0.48. It is not recommended to pay attention to it.

LTC

There has been a certain degree of differentiation in funds, with mainstream currencies rising and falling. LTC continued to pull back, hitting a low of $128 yesterday, and the low is moving down. From the daily perspective, the moving average system of the target shows a bullish arrangement and remains strong. It remains to be seen whether the target can stand back on the 5-day line again. If it stands on the 5-day line again, it may challenge the previous high again. However, it can be seen from the time-sharing chart that the target still has the need to continue to fall back. It remains to be seen whether it can stop falling and stabilize at $120.

BCH

BCH pulled up strongly yesterday, reaching its highest point at the previous neckline near $423. However, we can see that the trading volume of the right shoulder is significantly smaller than that of the left shoulder, and no funds have been found to intervene. The head and shoulders top pattern is still valid, and the trading volume of the right shoulder is getting smaller and smaller. It is easy for bears to suppress it. The medium-term adjustment expectation remains unchanged. In the short term, we will focus on the support strength of $400.

EOS

EOS is still in the process of building a head and shoulders top. The 5-day and 10-day lines are golden crosses, and the MACD indicator is close to the zero axis area. There is a need for an upward rebound at the intraday level. The upper pressure is around $6.5. If it breaks through $6.5, it may rise to $6.9. The volume restricts the rebound height. If it fails to break through, it will oscillate repeatedly in the range of $5.8-6.5 to build the right shoulder of the head and shoulders top.

BNB

BNB is still performing well, setting a new high again yesterday, but it failed to hold steady and fell back to the previous high. It is currently in a volatile consolidation. The moving average system will soon form a bullish arrangement, and the MACD indicator is about to form a golden cross upward. The overall trend is bullish. If it stabilizes near the 5-day line, it will continue to attack upward to set a new high, but you still need to pay attention to defense. If it falls below $34, reduce your position, and if it falls below $32.5, leave the market and wait and see.

Data source for this article: qkl123

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