International Online Internet Finance Channel: According to data from the digital currency trading platform, as of 12:00 on October 19, the price of Bitcoin on Huobi.com was 4,327 yuan. Bitcoin has been trading sideways for more than a week since its October 11 gain. At around 4 o'clock this morning, Bitcoin fell slightly to around 4290 and encountered support, and was quickly pulled to around 4320 yuan at around 5 o'clock.
(Huobi.com Bitcoin 4-hour K-line chart)
Coin price will break upward after stabilizing 4300, and encounter resistance in the 4350 range, which will cause the market to pause, but it is not enough to reverse the situation. The price has exceeded 4350 three or four times, and has also tested support for 4290 many times, but none of them have stabilized. When fluctuating sideways, pay attention to stop loss at the boundary.
Of course, the upper pressure level is still around 4350. If the strong pressure level is between 4400 and 4500 after the breakthrough, and there is also the pressure of the daily rising channel line , so the rising space is limited. Looking at it today, if you are unable to break through for a long time, you can consider setting a stop loss at the early support level.
(Huobi.com Bitcoin daily K-line chart)
Disclaimer: The market analysis in this article is for reference only and does not constitute any investment opinions or suggestions. Investors should understand their risks on the relevant product pages or seek professional investment advice.
