Sometimes it may be painful to look at it, and sometimes it is confusing, but traders and analysts all over the world miss the vicious volatility of more than $1,000 per hour because the lack of volatility will spread to the wider market. Crypto The market is almost as stable as the foreign exchange market.
This month, Bitcoin has only fallen by 1.88%, and the Australian dollar’s ​​one-month performance against the US dollar is equally bad. The U.S. dollar fell by $1.85, followed by the euro, New Zealand dollar and British pound. For more brave people, looking at the global stock market, the S&P 500 index fell 8.76% this month, and the Nasdaq index plummeted 10.93%. These are Bitcoins, especially the broader market, which should be used to trends. , Not only within a month, but also on a certain day.
There is a lot of discussion about the crypto market environment and the volatility returning to the old age, and there are even signs that the volatility before the inflow of institutional funds into Bitcoin will rebound. Although this seems reasonable, it seems difficult to be sure now. Kind of catalyst. This will reignite Bitcoin and the broader market.
Bitcoin fell by 0.51% on Saturday and rose by 0.06% on Friday to close at $6,498, the lowest daily final value since October 14, $6327.6. Perhaps more interestingly, the bias to continue downward still exists. .
The only good news for Bitcoin and the broader market is that the decline in volatility and lack of price action will be viewed as positive by the SEC and even institutional investors, although it remains to be seen how long the low volume environment will last Another increase in volatility may be the manipulation of a hacker or other institutions.
Let's take a look at today's cryptocurrency trading situation
At the time of writing, Bitcoin was down 0.12% to $6492.4. Bitcoin's decline reversed after a morning high of $6500.2, after Bitcoin failed to break through and remained above $6,500 for the past 9 trading days. , Bitcoin proved to be rising at the $6,500 level.
Unsurprisingly, despite Bitcoin’s early losses, today’s start is still another range. Before finding the support level, Bitcoin fell to the morning low of $6490.8. The main support and resistance levels remained the same for the day. Untested.
For the next day, breaking through the morning high to $6,512, will support today's first major resistance at $6,546.37, while the second major resistance for the day is at $6,594.73, which is unlikely to last for a whole day. .
The failure to return to the $6500 level and stay above the $6512 level in the early afternoon may have caused Bitcoin to be hit harder that day. The early morning low fell back to the $6480 level, making today's first major support at $6,463.27. Play a role before recovery, leading to greater losses. We are unlikely to reject substantive negative news.
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