Quote analysis: Are you in a hurry to leave? May be a trap

According to coindesk, according to a press release issued on Thursday, the Office of the Attorney General of New York claimed that the crypto exchange Bitfinex lost $850 million, and then used Tether's funds to make up for the loss. It is reported that iFinex Inc. operates both Bitfinex and Tether. The survey revealed that iFinex masked a significant loss of $850 million in customer and corporate hybrid funds.

Such opaque behavior is common in centralized exchanges. We believe that this is not the main cause of the market crash. When the market falls, people are always habitually looking for some objective reasons, and we believe that the most objective reason is The market has not moved, and the funds have to move in the most labor-saving direction, so the big drop will come. The number of users currently using the public chain is equivalent to the number of Internet users in 1997, from 50 million to 70 million users. Among them, only a few million people may actively participate in the daily life of bitcoin and cryptocurrency, so there is still huge potential.

The market fell overall today, and the decline was large. We talked with you about the reasons for the behavior of the funds to warm up the group. In fact, the market is lacking in funds, and everyone’s participation is not high. The funds in the market all go to the target with the effect of making money. This is how the bear market comes out.

The longer the bear market, the higher the target price of funds. Now we still think that the behavior of the market capital group has not ended. BNB and BTC have not seen a broken position, but let us look at other mainstream currencies. Have they already returned to the starting point of this round? Is this what we said, throwing out a panic, and then pulling up to force the funds to hold the group?

BTC

We have redrawn a track line for BTC. Yesterday, the BTC hourly level rebounded relatively weakly. After the sideways volatility, there was a quick kill. The three lines of defense we gave before have already been penetrated. I don’t know. Have you strictly reduced the position according to the operation, the market quickly slammed to around $5,150, and then pulled back, this round of declines released a huge amount, the panic disk has already been killed, in the short term will withdraw the $5,280 mark, observe the point No station back, if you can successfully return to this point, it may be a washing action, or will continue to run along the track line, effectively below the lower line of the track line, then the next target is between $5,000 and $4,800. Pay attention to the risks, we prefer to wash the dishes here, and also keep running in the track line.

ETH

ETH has continuously received three negative lines, but we saw that the negative line of yesterday was very long, but the volume was not accompanied by amplification. The 5 antennas had multiple moving averages and were moving down quickly. The macd indicator was also rapidly moving to zero. Moving around the axis, we expect the most likely trend of the target is the trend of the flag, we re-draw the channel line of the target, the lower rail position can be low suction, hit the upper rail position can be high throw, good defense, The downtrend and the bottom of the uptrend line are on the sidelines.

XRP

XRP is now close to the lowest point of this year, the trend is very weak, ABC's C wave crash is still necessary to observe, it is recommended to wait and see, yesterday did not follow the BTC heavy volume to kill, there are signs of stabilization, observe whether the target can stabilize the position again Re-station back to 5 antennas, the target will re-send back to $0.32 and we will re-submit the operation comments on the target.

BCH

BCH has been falling slightly along the 5 antennas in the past week, and there has been a wave of killings with the BTC at 5 in the morning, but the volume has not exceeded the previous amount. It is a bit of a sign that the macd indicator is down and the BTC is not broken. Falling, the target's high probability will be oscillated above 265 US dollars, waiting for an opportunity to rebound, once again stand back to the 282 US dollars card cautiously, fell below 265 US dollars, the market weakened.

LTC

Although LTC fell below the bottom of the box, the K-line chart of the time-sharing level shows that the target has fallen, and there is no volume. If you stand back to the $75 pressure level or stand on the downtrend line, you can actively Participate in doing more.

EOS

EOS followed the BTC and re-emerged to a new low. It is returning to the strong support of $4.4. It should be noted that if the target is supported at this point, the target will have the possibility of going up again. If you fall, then the market's current market will be over. Don't have any illusions. We tend to be supported at that point.

BNB

We mentioned in yesterday's afternoon comment that the kinetic energy of the market decline still exists, the bottom is not proven, do not blindly enter the market, BTC began to appear at 5 o'clock this morning, driving the overall market decline, BNB compared to BTC The decline is relatively small, and it is still running in the flag-shaped channel. The downswing has not touched the long line of defense we have given. It can be maintained in the orbit for a period of time in the short term, or as a long position near $20. The last line of defense, if it breaks, the bear will dominate the target and pay attention to the risk.

TRX

TRX's C wave crash is going on, the killing rate is very large. At present, the target is rapidly falling along the 5 antennas, and there is strong support at $0.0217. It is expected that the point will rebound, and the strength depends on whether the volume is matched or not. Breaking $0.217 left the market.

This article data source: QKL123

The author's point of view is only used for learning communication, not as an investment recommendation, and does not constitute an investment basis!

Author: talk on gold coins