I am Qi He. Is tonight's market making you restless again? The 1-hour chart is red and green, and suddenly a 'big bomb' news hit: the US CFTC approved Bitcoin and Ethereum as collateral! So should we rush in or run away? Don't panic, let me, an experienced analyst, clarify things for you.
The message is a 'calming pill', but not a 'charge call'.
You have also seen the recent news, the US authorities have issued 'licenses' for BTC and ETH, allowing them to be used as collateral in the formal derivatives market. This is far-reaching! It essentially paves the way for institutional funds to enter in the long term, which is definitely a long-term positive. However, remember one thing from Qi He: good news landing does not mean an immediate surge. It is more like a calming pill, telling us that the market's fundamentals are more stable, but tonight's short-term trend still depends on whether the funds acknowledge it technically.
Look at the picture and talk, the key is in 'this shiver'.
Focus on the 1-hour chart. The current price is stuck at the key point of 90119, and the MACD has a golden cross below the zero axis. This is a signal of slowing down the decline and the possibility of a rebound. The trading volume has increased, indicating that the bulls and bears are fiercely battling here. My clear opinion is: I am optimistic that it will take advantage of favorable news to surge again and test the pressure level of 94000. But the question arises, can it break through at once? I think the possibility of stabilizing at 94000 directly tonight is low, and it is highly likely to encounter strong selling pressure above and then fall back. So, don’t rush in all-in when the price rises quickly!
Qi He’s personal opinion: Tonight, it is highly likely to first surge upwards and then fluctuate downward. The possibility of forming a 'surge and fall' scenario is quite large. A true one-sided big surge may require more time to build momentum.
Do you know why I think it's hard to break through 94000 once? Besides technical pressure, there is a key signal hidden in the order book, which determines the true intention of the main force: 'false rise' or 'true breakthrough'. I will unravel this signal at the first time in Qi He Village next time.
I am Qi He, an analyst who only wants to speak the truth. If you find this analysis useful, hurry up and follow me. In such a complicated market, it’s too tiring to watch the market alone, and it’s easy to make mistakes. Come to my side, and let’s see the trend clearly and keep up with the rhythm together.
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