Bitcoin's rebound stalled and the correction continued

29 Jun 2019

The market has entered an oscillating cycle. Although bitcoin showed a very stubborn performance yesterday, coming out of the 15% rebound pattern, we saw that the counterfeit currency did not synchronize, that is to say, the outflow of $50 billion, more than 20 billion back, most of the money went into bitcoin. No matter what the reason is, the formation of here will be a stage high, short line if there is a new high, at any time may dive again, the market has formed a panic, short line is difficult to let everyone maintain a high level of excitement, so the main force will not risk attack. Choose oscillations for long and short are good.

See as to here top, still say not to say at present, because the trend of day line level is still long, that is to say look from configuration more inclined the sort out on the way. Unless continue to fall, form short trend. So now the trend, long, short is more difficult, I suggest holding spot, waiting for a clear trend.

For the market forecast, I personally tend to have a deeper adjustment, because for the rise, here out of 3-4 weeks adjustment is reasonable. That is to say, this may be a mid-stage head, which is currently traveling in an abdce band, and formed ab wave bounce from yesterday to today, followed by cde. Of course, this is just a judgment. I just said, here does not rule out is the concussion trend, also does not rule out continues to go up the trend, because the day line level has not formed the head. We're all making predictions. So it's a prediction of the future, not a trade. If we break through the pressure of the trend line, we will give up short thinking.

strategy

Spot holding, hedging is a very good strategy. Only some people may not know how to hedge, or what they think of as shorting. Again, if you're a committed holder and you're confident about the future, well, how do you avoid losses along the way, as happened last November? Holding immobility may lead to substantial losses, too long period of money will wear down people's will; The result may be to sell low and buy high; So hold the spot, hedging the best choice. Of course, if you have very few tokens, say, a few thousand dollars, there's really not much demand for hedging, but if you have millions or even tens of millions of dollars worth of tokens, hedging is a great tool. Go to see the operation of institutional investors to know, large institutions are not repeated trading spot, the risk and cost are too high. They hedge risk more by hedging.