Click on the link to join the meeting directly: https://meeting.tencent.com/p/7890471408
What impact will it have if the harvest is like this at the end of this month and tomorrow's harvest line?
In the financial market, the appearance of evening stars in the monthly chart is usually a strong bearish signal, indicating that the market trend may reverse and the stock price or price index may enter a downward phase in the future.
The twilight star pattern consists of three candlesticks: the first one is a bullish candlestick, representing that the market was originally in an upward trend; The second one is a small solid star line, such as a small bullish line, a small bearish line, or a cross star, indicating that the bullish and bearish forces are beginning to balance; The third one is a bearish candlestick, and its closing price is lower than the opening price of the first bullish candlestick, which means that bearish forces have the upper hand and the market trend may reverse.
Evening stars at the lunar level are more reliable in predicting trend reversal signals compared to those at the solar level due to their longer time period. For example, in May 2021, the cryptocurrency market experienced a twilight star pattern at the monthly level, followed by a significant decline in Bitcoin. Later on, everyone took this as a warning and named it the 519 incident in memory of history
However, although the evening star of the monthly line is an important bearish signal, investors cannot rely solely on this form to make decisions in practical analysis. They also need to make comprehensive judgments by combining other technical indicators, market fundamentals, and other factors to improve the accuracy of their judgments.
Technical Analysis
——BTC closed above the mid track last week, first rising and then falling back to the lower track. Near the daily upper track, it suppressed and did not break through the key level of 116000. After four hours, it experienced a double peak and fell back, after closing at the monthly line. Rising again, falling below around 100000 to 88000!
——ETH did not fall below the middle track last week, and currently it has broken through the middle track. At the end of the day, the middle track broke and fell back to the lower track, rebounding. After forming a four hour double top, it fell back by 3700. Currently, the weekly trend is still bearish, and if it breaks below the middle track, it will fall back to the lower track around 2800.
So, how do we proceed next? Teacher Zhao Yun, who has 9 years of practical trading experience in the cryptocurrency industry, will provide a detailed breakdown for everyone. Welcome to the live broadcast room to check in!
Join the Three Kingdoms College Exchange Group to receive more services:
1. Real time troubleshooting (online one-on-one question answering and sorting)
2. Professional technical analysis and theoretical learning
3. Construction and improvement of trading system
4. Live streaming courses every day, contract termination, real-time order making, to help you successfully land!
Official QQ group: 579358784
Tencent Meeting ID: 789-047-1408
Disclaimer: The above content only represents the author's personal opinion and is intended to assist investors in understanding information related to the capital market. It does not constitute any investment advice and does not represent the position or viewpoint of AiCoin. The market is risky and investments should be made with caution.