The market all fell back after surging. As we said before, the BTC market increased without volume was a temptation. And the $7,000 mark was full of resistance, and a perfect position to short. Since the volume was low, it cannot support BTC to run above it. A divergence still exists in the MACD of the 4-hours chart, which means that an adjustment is still required in this case. The battle between longs and shorts, and the adjustment will remain in the range from $6,400 to $7,000 since the market is on the process of the triangle, the turning point is upcoming. We'd better wait for the market to choose the direction. Focus more on the support at $6,400.
ETH once broke the pressure at $140, it boosted with a low volume and was limited by the MA20, then fell back. A dead cross showed up in the MACD of the 1-hour chart, which means the market will experience an adjustment in the short-term. A short-term surge without volume was a short position. As the support at $138 has been broken, shorts can hold their positions to earn more profits. If the market rises back to the level of $138, cash out would be a good choice. Focus more on the current support at $134.
#BTC #BTCUSD #ETH #ETHUSD #Cryptocurrency
ETH once broke the pressure at $140, it boosted with a low volume and was limited by the MA20, then fell back. A dead cross showed up in the MACD of the 1-hour chart, which means the market will experience an adjustment in the short-term. A short-term surge without volume was a short position. As the support at $138 has been broken, shorts can hold their positions to earn more profits. If the market rises back to the level of $138, cash out would be a good choice. Focus more on the current support at $134.
#BTC #BTCUSD #ETH #ETHUSD #Cryptocurrency