Bitcoin stability at $5,300 is this an opportunity for reversal?

Bitcoin (BTC) began to rebound after holding $5,200 downtrend. The altcurrencies also rebounded effectively with Bitcoin. The most outstanding performance was the Bitcoin Cash (BCH) that fell for half a month in the previous period. It once rebounded from 231 dollars to 278 dollars.

The trend reversal indicators of MA7 and MA30 yesterday is unchanged. The crossover of the MA moving averages on the 7th and 30th led to the reversal, meaning that the next half to one month, the trend is opposite to the overall trend in the previous period. Most cryptocurrencies MA7 pierces the MA30 and its pattern is not so easy to change.

To change the downward/adjustment trend of the next month, the fundamental requirement is to increase the funds in the entire cryptocurrency market to push the price of the currency up. Obviously, the funds are not entering the market madly. Instead, they are accelerating their escape. The over-the-counter USDT premium has changed from 4% to 1%, which is the performance of funds leaving the market. Even if it is 1% more warm, it's just rebounds.

The principle of capital flow was analyzed before: the giants escaped from the high level of the mainstream currency, the main force of the altcoin fled, and the platform coins were partially profitable. Then the funds in the market were taken away, and then there is no doubt that it is going to fall and redeem this value transfer. This is a common sense of finance, and everyone should keep in mind.

Most of the opportunities in the market are dominated by oversold, and wide fluctuations will be the main tone. A lot of coins haven't finished yet, but they won't fall out of breath. On May 1st Labor Day, the holiday will start, and the speculation will be fried. The body is the capital of the revolution!

Market Analysis

Bitcoin (BTC)

Temporary long-term equilibrium, yesterday's pull-up has delayed the risk of deep price. The $5,150 is the recent downside resistance, while the 5400 line will be the resistance to the rebound.

To make a currency trading judgment, the general logic is: from a large level to a small level, such as from month, week, day, then to 4 hours, 1 hour, 15 minutes, and so on. Grasp the big direction and look at the small direction.

Bitcoin have identified the main tone of the two-year slow cow. The information reflected is: MA30 is getting closer and closer. Once it is pierced, the public sentiment turns negative and adjustment is inevitable.

I personally do not stand with some people saying from $4,800 and will rise to $6,000. Traders must always be objective and how to go, how do we do it. Good traders are all heads of grass, where to go where you can profit, nothing more.

Bitcoin is still the main trend of the market. You can still refer to Bitcoin to actively affect other currencies.

Litecoin (LTC)

The Simulated general trend of MA7 and MA30 is not necessarily correct, after all the market is changeable. But after understanding the principle of capital flow that talked about earlier, everyone should be able to judge the general trend of the market.

Unless there is a huge amount of money to push the MA7 to puncture the MA30 again, the trend cannot be reversed, and the difficulty of running up is still high.

You can go to see the historical line of Litecoin and you will find that the decline does not happen overnight, but the volatility falls, and the decline process is completed through several fluctuations of the main decline. In Elliott's wave theory, there is a standard big three wave model, so now the first wave is basically completed.

In operation, I prefer to rally short and short, or oversold and short.

Ethereum (ETH)

ElonMask is updated on Twitter and the latest tweet is simple: Ethereum.

This is something that seems to be particularly interesting. Is Silicon Valley Iron Man shouting for Ethereum? I think he is, but in his magnitude, it is not a short-term ups and downs. If he invests in Ethereum, the 150 dollars to 170 dollars is no big deal for him, the annual level trend of Ethereum can reach more than $500.

Long-term holding or short-term trading is a different choice for people of different capital levels. The people shouted long, because short-term gains are not much more stable than long-term. We ordinary people do trades, have patience and long-term commitment, respect short-term technical aspects, what we should do is remain objective.

Ethereum is not much ups and downs, it is not recommended to make futures, and it is not bearish in the near future. The position should be looking at adjustments and everyone should pay more attention.

EOS (EOS)

The trend has not changed, and the rebound does not mean reversal, and the decline will not happen overnight.

As mentioned, the previous two days trend, rebound and brave short, but also keep a good position to prevent the blast. The position that is reserved now is to short the rebound. Now is not the time to bargain. The $4.8 is a short-term resistance level, it is insurmountable. If the market violently inserts $4.9 - $5.0, firmly grasp.


Bitcoin Cash (BCH)

The rebound is in place and the trend does not change. The main volatility of Bitcoin cash is still the shockdown. The strong rebound is only to repair the oversold, but also to short the opportunity.

However, this currency has a large fluctuation space, and the position cannot be too heavy. $270 is the resistance level and in the next few days, the rallies will be lighten up and short-selling.

XRP (XRP)
It can't go up and fall, and it doesn't match the style of other cryptocurrencies. The $0.3 line is an important long-term cut-off point. If it falls below $0.28, it will be unconditionally stopped. If you want to enter the market, you can wait for it, don't worry.

The author's point of view is only used for learning communication, not as an investment recommendation, and does not constitute an investment basis.