Bitcoin started a strong rally yesterday morning and then surged higher, breaking through $28500 late at night.But then there was a surge of selling pressure, and it began to decline all the way, reaching $27281 at the lowest point this morning
Bitcoin started a strong rally yesterday morning and then surged higher, breaking through $28500 late at night.
But then there was a surge of selling pressure, and it began to decline all the way, reaching $27281 at the lowest point this morning. Yesterday, almost all of the gains were taken back.
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As of now, the BTC price has dropped by 1.89% to $27500 in the past 24 hours. It remains to be observed whether it can stand firm and rise again.
In contrast, Ethereum's trend is even more weak, reaching its lowest point of $1632 in the morning, below yesterday's starting point, with a drop of 3.64% in the past 24 hours.
$113 million in net exposure
Affected by the rise and fall of currency prices, Coinglas data shows that in the past 24 hours, a total of 32000 people have been liquidated, with a total online exposure of $113 million.
Among them, Bitcoin has the highest exposure of $37.79 million, followed by Ethereum with a exposure of $29.77 million.
At present, the market is highly volatile, and the dynamic zone reminds investors to pay attention to short-term volatility risks.
BTC trend analysis
Within the day, although BTC prices have broken through a diagonal declineTrendlineHowever, due to significant profit taking and selling pressure in the market, prices have fallen again.
Therefore, we need to wait for 1-2 days for the candles to close above the $27500 area before we can confirmBTCThe surge structure has been formed, but the current price is still trading around $27500 and cannot be fully confirmed.
Similarly, due to the relationship withRSIDeviation, crypto market value chart has surged.
However, we still need to wait for the daily candle chart to confirm the impact structure formed in the next few days in order to obtain a clearer understanding of this structure.
In the H4 chart, the USDT stable currency share is approaching an important resistance area of 7.86%. If the price breaks through, the market will continue to adjust. Conversely, if the stable currency share is set to decrease,.
Under the H4 framework, the possibility of BTC further increases, with the next target being the $29000- $30000 area.
In the short term, the H1BTC framework has appeared in the recent three CME gap areas of $27900- $27100 and $26200, so these are important price milestones that we need to pay attention to.
In short, Guage believes that in the short term, BTC is forming a correction wave. If you trade the H1 framework, you need to wait for the surge to form again, because the H1 structure has already broken the surge, so when the structure repeats, we can consider buying.
If you are trading within the H4 framework, you need to wait for the DomUSDT chart to create a decline setting before making a purchase.
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