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The market pullback! Daily analysis-2020/05/21

HTX:BTCUSDT   Bitcoin / Tether USD


The market pullback and the sentiment gradually returned to rationality. However, BTC fell to rushed $10,000 which is more like a psychological barrier for everyone, and the market gradually weakens this consensus. In the 4-hour k-line chart, the MACD red pillars start to shrink, and a rebound will follow up in the future. The long-term moving average is still climbing, which means that the short-term line is stable at the $9300, while the longs still have a chance to counterattack. Buy in around $9300 and sell if break the $9250

The ETH however stabilized and rebounded again. From the 4-hour trend, the MACD showed a dead cross above zero axis which means there will be a short term adjustment. However, the dominance of bulls has not been lost and the MACD red pillars are gradually shrunk. There is still a chance of a rebound in the follow-up, pay close attention to the pressure point at $210.

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