Yesterday, the high point of the big cake BTC was 35350.0, closing at 34893
Yesterday, the high point of the big cake BTC was 35350.0, closing at 34893.9, with an amplitude of 1.92%, an increase of 0.53%. Yesterday, the main trend was upward, with the closing price at the 5-day line, with multiple forces leading the way in the medium to long term.
Last week, it was analyzed that the 233 moving average, which emphasized waiting for the big cake for 30 minutes, has completely broken, but the market has been slow to break. The moving average price has been moving upwards, and the Ethereum has broken a new high again over the weekend. This shows that the moving average has strong support, and once it falls in the future, there will inevitably be a major correction. However, the big cake has been trading sideways for 2 weeks, which seems to have worn away the confidence of the bears. No matter how the market changes, the position here has indeed reached a strong resistance area in the short term, and the transition from long to short is almost within the range. However, it is still necessary to be cautious of the market continuing to rise, even if the probability is relatively small.
30mink line diagram
From today's overall trend, the bullish and bearish trend of the pancake market has always been in the game stage, and the market did not fall below the 30min 233 moving average as expected. The support point below remains unchanged at 32700 points. In the long run, it does belong to a multi-party trend and has not been disrupted. It is sufficient to continue holding spot goods. Personal opinion: The trading time of the big cake is a bit too long, and there will be results tonight or tomorrow. Personally, I tend to be short-term bearish, and no matter how short it is, I must set a stop loss point that suits my own operation. Conservatives can patiently wait for one or two days.
Bitcoin BTC Market Analysis (11/03)
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