Yesterday, the high point of the big cake BTC was 30417.46 points, closing at 29810
Yesterday, the high point of the big cake BTC was 30417.46 points, closing at 29810.18 points, with an amplitude of 2.64% and a decrease of 0.49%. Yesterday, the main trend was a decline, with the closing price below the 5-day line, with bearish forces dominating the medium to long term.
The day before yesterday, it was analyzed that the big cake btc was mainly empty, and it was also said that the big cake would certainly fall with the Nasdaq Composite. Before the US stock market saw the market last night, the big cake did indeed rise to around 3.04w. However, due to the sharp drop in the Nasdaq last night, it fell by more than two points, causing the big cake BTC to immediately fall below 3w. Therefore, the wave of bullish trading last night may have buried many long orders. The view remains that the large pancake may continue to decline to around 2.9w.
30mink line diagram
From today's overall trend, the pancake has rebounded a lot, with a maximum rebound of around 2.95w during the day, followed by a decline, without any intention of rebounding to 3w. Upon closer inspection, it can be seen that the height of the pancake rebound is getting lower and lower, unknowingly breaking 3w. The pin position below is about 2.84w. At the same time, it is still suppressed by the 144 and 233 moving averages for 30 minutes. My personal opinion is to operate with caution in this position, but we must also avoid blindly chasing short positions and patiently wait for the market.
Bitcoin BTC Market Analysis (7/19)
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