Ethereum and Bitcoin play a seesaw

 seesaw

The price of Bitcoin continues to fluctuate above 16,000; if Ethereum 440 is not broken, the opportunity to enter the market can increase

The price of Bitcoin went up and down several times after it encountered resistance and shocks last week.

Many parties still tried their best to maintain above 16,000. The overall trend is still very strong. However, the repetitiveness of small-level callbacks that has been emphasized continues to progress. Last Friday and Saturday, both sides turned red and lowered. There were differences between the long and short sides, and there were shadows on the top and bottom. On Sunday and today, the K-line turned green, but the long and short sides still had minor disputes. The callback is not a callback, it looks like a rebound, but it is not a rebound either. 16000-16500 is directly rolling.

On the news, after PayPal opened its encryption service to qualified users in the United States last week, this week is ushered in the V20 summit. The main topics of this conference are stablecoins and DeFi supervision, which caters to the needs of current market development; whether it will be like PayPal also brings positive stimulus to the market, and it depends on the progress after the meeting. It is still likely that traditional institutional funds will enter the encrypted market and develop regulations. There are certain positive expectations in the market, and prices may continue to rise amidst the shock. See if it can break the 16500 suppression and set a new high.

Ethereum and the broader market trend are in contradiction.

It is no wonder that with the absolute weight of Bitcoin in the crypto market, the squeeze on the opportunities of other currencies must be crushing. Bitcoin resists the callback and maintains above 16,000. In the past few days, Ethereum has obviously fallen out of favor. Funds are concerned about the market’s tilt, so that after two consecutive days of corrections in the price of Ethereum over the weekend, there is a bottom pin today. However, judging from the daily chart, the power of the short side has been effectively resisted by many parties, and there is a great possibility of turning green at night. Look at 20 points in the activity interval, 440-460. If the low is not broken, increase the position and enter.

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