Market Analysis: The callback in the bull market is a good opportunity to get on the train

Today's interpretation has created a triple benefit, the BSV hotspot has not yet retired, first Abbott Cong registered BTC white paper, followed by the rumor that Binance re-released the BSV, the incident of Ao Bencon sued Peter McCormack and others also had a new Progress, for a time, there is no difference between Ownen Cong and BSV. Maybe someone finally can't stand it anymore? Yesterday, the Bitfinex exchange played a thrilling BSV long and short battle in just 13 seconds.

In 13 seconds, the Bitfinex exchange highlighted a total of 21,730.97 BSV intensive selling. During this period, the price of BSV dropped from $234.22 to $44.77. After that, the price of BSV quickly rose back to $232. It was a tentative platter for 707 BSVs, but it was quickly digested by the market.

In addition, BTC white paper copyright registration has made new progress.

Wei Liu is the CEO of Coinsummer, a crypto-transport market research company. The reason why he registered the BTC white paper copyright seems to be to prove that the copyright of the registered BTC white paper is meaningless to prove "Nakamoto Satoshi".

“I submitted this application just to let people know that anyone can register for copyright. Everyone can become Nakamoto.”

However, this move does not seem to have any effect on the copyright registration of Ao Bencong except for taunting.

Opburner spokesperson Ed Pownall said:

"This is what we want to see, because now these two people can stand in front of the judge, and the one lying may face jail time."

In terms of market conditions, BTC hit a new high again yesterday. This time it reached a maximum of more than 9,000 US dollars. However, this wave of market is going fast, BTC took half an hour to break through the shock zone, and then in half an hour. Back to the starting point, the BTC continued to go down at night, engulfing a week's gain overnight, and the next $8,000 is a key position. Once this position is broken, it will test the support between 7600-7000.

It is also worth mentioning that we have analyzed the bull market logic and made relevant tips very early. Recently, more and more institutions and investors have joined the ranks of many people. Recently, some media have concluded that the bull market is coming. The 7 reasons, investors who are still skeptical about the bull market can refer to:

1. The usage rate of BTC has steadily increased, the computing power is close to 60 EH / S, and the average block size has now exceeded 1MB, reaching 1.26MB;

2. Google's BTC search index continues to climb, if the BTC price reaches 10,000 US dollars, then FOMO (worried to miss) will come;

3. Institutional investors are preparing for the BTC bull market. Grayscale purchased 11,000 BTCs last month, accounting for 21% of the newly-exploited BTCs per month;

4. In the past 12 months, the number of BTCs in the BTC wallet has steadily increased, and the number of wallets with 1,000 to 10,000 BTCs has increased by 7%;

5. Institutional trading volume hit a new high, and South Korea's LocalBitcoins' BTC trading volume hit a new high, exceeding 218 million won;

6. More institutions adopt BTC, and BTC is moving towards the public;

7. The price of BTC has risen sharply in the near future.

Market research

Overall view

After the BTC's innovation high, it quickly adjusted back, and the market as a whole was linked back. As the market continued to accelerate, the current round of rising prices may be nearing completion, and the follow-up focus on the support strength of the 20-day moving average. Although there is a risk of callback in the short term, it does not change the big logic of this round of bull market. The callback in the bull market is an excellent opportunity to get on the train. If the callback market appears as scheduled, consider adding a proper position.

In December 2018, we clearly pointed out BNB's investment opportunities in the bear market, and the first to propose that BNB in ​​the bull market will enjoy Davis double-clicking in October 2018, we will point out the BTC price cycle and predict the bottoming time as Around May 2019; in April 2018, when the remaining temperature of the bull market was not exhausted, we indicated that it was a rebound rather than a bull market.

From the daily level, the rising trend of BTC has not been significantly damaged, but a series of factors indicate that the short-term correction may be large. After yesterday's heavy volume decline, BTC's rebound is limited, MACD has a dead fork, and the 5-day moving average is turning. Head-down has a tendency to cross the 7-day moving average. The narrowing of the Bollinger Band also indicates that this round of rally is coming to an end. At present, the support of the 20-day moving average has been verified temporarily, but the BTC still continues to test the 8000 position. The possibility of support, if you call back to around 7800, you can consider the appropriate position. The support level is 8160, 8000 and the pressure level is 8800.

ETH linkage BTC callback, the current support level 245, pressure level 265.

EOS performance is relatively strong, but the same linkage has seen a correction, the current support level of 6.5, the pressure level of 8.0.

risk warning

The price of digital pass is fluctuating violently. Investment digital pass is a high-risk investment behavior. Investors should reasonably assess their investment ability and risk tolerance, use leverage carefully, strictly control risks, and invest carefully. Investors are advised to keep in mind that investments are risky and require caution when entering the market.

Disclaimer

Personal opinions are for reference only. The analysis in the text does not constitute a recommendation for trading, and the profit and loss is self-sufficient. Welcome to reprint, but need to indicate the source.

Source: Coins