The latest economic data released by the United States exceeded expectations, and the probability of a rate cut in December has increased greatly, although Powell has reduced the possibility of a rate cut in the US dollar in expectation management. Affected by this, Bitcoin fell again overnight, and the low came to the 87,000 line. Yesterday, the long and short positions also took up a lot of space. At present, the overall structure is still in a bullish form.
From the daily level chart, although the price rebounded yesterday, the subsequent supply was insufficient, and the trend did not stabilize upward. At present, it is retreating again to the support of 87,000 below. If it cannot rebound at the 87,000 position, the currency price will continue to fall. If the price cannot continue to rebound and stabilize above 90,000 during the day, it is expected that the shock consolidation will continue for a while.
Bitcoin has been rising strongly in recent days and has continuously refreshed its historical highs. However, after the rapid rise of any asset, a short-term correction is a normal market and a critical period for risk management. If Bitcoin encounters a sharp correction, the market is expected to usher in a period of high consolidation, and the adjustment range may fall between 80,000 and 90,000.
From a technical point of view, the four-hour chart shows that the trading volume of Bitcoin has increased, and the price is close to the middle track support. The resistance of 92200 should be paid attention to above, and the support of 85800 should be paid attention to below. As long as the support line is not broken, the bullish trend will not be a big problem. Therefore, we continue to use the idea of retreat to make a layout.
BTC: 865000-85800 long, target 885000-91000
ETH: 2950-2900 long, target 3100-3200
The market is very good, the state is hot, and the money is counted with the naked eye. Winning all the way, overcoming all the obstacles, and taking off the position, I am not lucky, I can't see it clearly...
