BitOffer Bitcoin Market Analysis 2020/05/23

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The market punched down as the market presented reds and greens. And the BTC market started with reds and turn to red numbers. In the 4-hours chart, the MACD indicated a golden cross below the zero axis, which means a rebound is required in the short-term. However, the rebound is short of volume, the longs is still weak. In the next period, the market tends to find a support. Focus on the support at $9,000, and buying-in when dips.

The ETH market kept falling and lost defense at $210. From the movement of the 1-hour chart, the MACD gave out a dead cross above the zero axis. Even a rebound is required, but the long-term moving averages will keep the current movement. The longs will still take the lead. Focus on the support at $205, and buying-in when dips.

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