The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Bitcoin has begun a correction, and mainstream currencies have made up for the increase. How to obtain excess returns? From just over US$3,000 at the beginning of the year to US$7,746 now, Bitcoin has perfectly doubled. However, yesterday's rise and fall have proven that Bitcoin's rise is gaining momentum and needs to be confirmed by a retracement.

Like Bitcoin yesterday, the pattern of heavy volume, highs and falls is a typical pattern of large investors cashing out funds and leaving the market. In a short period of time, shocks are almost certain. Of course, the correction will not happen overnight, but will fluctuate downwards in search of support.

The support below is the range of 6,600-6,800 US dollars. If you step back into this range, you have to see how the momentum is accumulated before judging the subsequent trend.

As for why the bookmakers chose this point to reduce their positions, we need to find out from historical data. The positions 1-5 marked in the picture are the historically important positions of more than 7,000 US dollars. Whether it is the big bull market in 2017 or several small rebounds in 2018, there will be shocks when reaching this position.

As for the market outlook, we might as well start with the reasons for the rise. The reasons for this round of rise are concentrated in several aspects.

1. Oversold rebound. Bitcoin fell from a high of 20,000 US dollars to 3,000 US dollars, a drop of more than 80%. It’s time to rebound.

2. Big funds are entering the market. According to rumors, many institutional funds and consortiums have begun to deploy Bitcoin, forming favorable support.

3. USDT may experience a thunderstorm, and a lot of funds will begin to flow to exchanges to avoid risks.

4. Affected by the trade war and risk aversion rising to the point of financial crisis, the currencies of emerging countries collectively depreciated.

This is the more mainstream rising logic, but fundamentally, these are short-term phenomena, and even more psychological expectations may not have a particularly large actual impact on prices.

Looking at the specific indicators, Bitcoin has risen again today after yesterday's heavy volume decline. However, the volume has begun to shrink and the intensity is also very weak. A correction may come at any time.

The RSI is above 80, the MACD green column has begun to shorten, the KDJ dead cross has formed, and the price is at the upper Bollinger Band, all are signs of a correction. The support level for the pullback is between the 5-day line and the Bollinger Middle Track, which is approximately $6,600-6,800.

In short, the next trend of the market depends on when to increase the volume. Whether it is rising or falling, it all depends on that trend.

ETH has also reached a historical pressure level. Judging from the current indicators, there can only be one word to describe it: weak. To put it nicely, it means that the upside potential is great, but to put it badly, it means that the upside potential is limited.

From an indicator point of view, the RSI is around 80, which is in the overbought stage, but the MACD green column has become longer and has a golden cross shape. In the long run, the market may continue, KDJ begins to stick together, and the shock intensifies in the short term. The price moved to the upper Bollinger Band, forming an opening pattern. The price continued to close in a cross shape. The long-short game was intense, the trading volume shrank, and the trend will remain volatile in the short term.

The trend is weak and will follow the correction of Bitcoin. The price is within a reasonable range of around US$160-180.

The trend of EOS is also relatively weak, but in the process of strengthening, the explosive power in the later period is stronger. $6 is a strong pressure level, and whether it can break through is the key.

Judging from the specific indicators, the volume and energy are shrinking, the price cross star is weak, the RSI is in a reasonable range and is expected to strengthen, the KDJ is glued, the game between the long and short parties is intensifying, and the price is still at the upper Bollinger Track. There will be shocks and corrections in the short term, but in the long term, it is more resilient and you can buy on dips.

Taken together, the current trend is facing a correction, and it will often fall back in the later stages of shrinking and rising. Now is not a good time to open a position. You need to wait for the correction to open a position. You can use the 5-day line of Bitcoin as the point to open a position. If you want to make money in the currency circle, it is easy but also difficult. You must learn some skills. Follow the official account: The Big Devil in the currency circle to get more investment advice.