Bitcoin's adjustment target
Compare the current trend with previous adjustments
So after breaking the ma18, is also facing a dead fork, short term to see the bears, then how to deal with it?
First of all, we can see that there is a big triangle shape here, so the bottom of the triangle is the target position of this adjustment. Currently, it is around $9800, if it does not fall below, we will maintain the shape of the triangle.
A break below $9000 would be an important , and if it doesn't hold, then the bulls' last line of defense is at $7800, which is where we had a dense trading area earlier.
The first target for a permanent bitcoin contract is likely to be around $6,380
.png' src='/static/images/svg/idea-image-placeholder.svg' alt='The adjusted target bit theory for bitcoin perpetuity contracts ' class="js-image-lazy-load">
So if we lose it again, it's really going to cost us $6,400.
Short-term look here may not fall so fast, first is the mainstream dollar rebound, so the desire to kill down is not strong, will bring some support to bitcoin ; Second, the main force has been through the peak of shipment; Third, the contract position has not dropped significantly, that is to say, the bulls are still resisting, before the outcome is not decided, there are likely to be repeated.
The support bits are 1, 2, and 3 in the figure
Spot is not an opportunity to enter the market now, need to wait patiently, contract empty single opportunities, but pay attention to profit.