After the continuous declines, the market started presenting a rebound, and once reached the level of $7,966. As we analyzed yesterday, the $7,600 support was strong, so the market would start a rebound here. However, from the movement of the 4-hour chart, the MACD was weakened. Thus, the rebound will be limited by the $8,000 mark. If the market cannot break it and increase the volume, the market is likely to step back.
Now the market is one step away from the $8,000 mark, if it can be recovered, long in the short term would be available. Due to the pressure of the moving averages above is hard, the short term operation should be flexible and quick. We should focus more on the pressure at $8,000.
Now the market is one step away from the $8,000 mark, if it can be recovered, long in the short term would be available. Due to the pressure of the moving averages above is hard, the short term operation should be flexible and quick. We should focus more on the pressure at $8,000.