How Far Can the Rebound of This Time Achieve?

Major News

1. Federal Reserve Chair Jerome Powell said Fed is speeding up the decision on digital currency.

2. SEC once again postponed its decision on the bitcoin ETF of Wisdom Tree.

3. European Central Bank announced to launch digital euro project and no major technological obstacles had been found in previous experiment.

4. ZkSync 1.x,the layer 2 scaling solution of Ethereum has completed its upgrade.

5. The APP and website of Bitworld ceased operations in China.

The crypto market saw another plunge followed by rebound.The long orders remain to be weak.The whole market are generally bearish since even the mainstream coins can not be stable when the price rallying to 33,000.Bull markets belongs to some small coins such as Axie Infinity followed by ALLICE,Decentraland,chromia etc.Investors,however,should not make blind rush to these rising tokens but need to make prudent decision after research.

BTC

Bitcoin now has achieved an effective breakout from the previous triangle consolidation and its rebound is below the blue trend line with luckily a support from the mid-line of price channel,which however can not be deemed as a reverse signal since there has no effective stability on rebounding 33,000.Upper shadow has relatively weak trends.Investors are suggested to short near the surrounding high points and stop loss after effective break.Short-term limit stop can be put near 31,400 and previous short order around 35,000 can be kept.Spot buying is not advised for now in that the price has already rebounded.

ETH

We have reiterated in last analyses that ETH has relatively weak trends.The recent trend has proved that our analysis is correct.The price has broken the upper blue support line and the bottom has achieved 1865.Current limit stop point has exceeded 1910 that we set before.If investors depart with short spot order or have long purchase as our previous analysis,they can make profits now.However it is suggested to stop limit based on current trends.The previous support line has changed into resistance line now which has not been broken by the rally.Investors could choose the surrounding high points to short and stop loss when the price breaks the resistance line with the first target limit stop near 1865.Spot is not advised be bought in for now.

ETC

Ethereum Classical has been operating within the dropping channel after breaking down the prior box.With the decrease of the whole market,ECT has tumbled into the bottom of 42.525,exceeding our previous first target point 44,meaning a considerable profit for short orders.Short holders who have not stop limit could continue to keep the position.Spot or long trading is not advised for now since the price plunges to the bottom and rebounds.Investors could make moderate trades around the channel bottom and stop loss when the price breaks below the box bottom.

BCH

As our previous analysis said,the price of BCH seems to break below the box bottom.Now current status has shown we are right:Its price rebounds under the pressure of the box bottom after breaking below the box similar with previous ETC.Thus the short-term trend has been sure to be bearish.Investors with no short order whose price of BCH has plunged below the bottom could choose to short near surrounding high points and set the first target stop limit point at near 431.Spot or Long trading is not recommended for now.

DOT

As we talked in last analysis,the rising of DOT faced with difficulties and spot buying or long were not recommended at that time.Shorting was advised in cases that the price rallied to the resistance or broke below the bottom line of price channel.Though there is a support below 13,I personally hold it at low point.Investors are advised to keep the short order with near 12 as the first limit stop point.Meanwhile,long or spot trading is not recommended.Instead,moderate entry could be made around the first target limit stop point.

MANA

Spot or long holders of MANA were suggested to stop limit near 0.72 and waited to a correction in our analysis of last article.Investors could buy in MANA near the blue trend line.Though it showed the trend to be broken down,the price jump would be resistant by the black support line and formed a M shape trend followed by strong rebound.If investors wanted to stop loss when its price broke below the blue trend line,it was suggested to buy MANA in time in the following breakthrough and stopped limit at high points.Now that the current price has a correction,investors could buy in MANA near the red support line ,stop loss when breaking down and stop limit around 0.74.

Tips: Technical analysis above is merely a personal talk which shall not be deemed as investment reference

Author Profile:

Captain wowo,guest commentator of Fish.Pro,has 4-year rich experience in investment practice of both stock and crypto market.Focusing on spot transaction,Captain wowo is proficient at analyzing macro policies and market interpretation and has his own stable trade modes with profound understanding of long-term trades and short-term taste.

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