Market Analysis: Bitcoin rushed back at 4 o'clock in the morning to complete the support level test.

This morning, the BTC shocked sharply after the impact of 14,000 US dollars, and a bad news this afternoon suddenly appeared, saying that India's largest encryption exchange Koinex announced that it will permanently terminate its platform's digital asset trading service from 16:30 Beijing time, and then the exchange The inside of the currency fell sharply. The BTC price of the exchange fell to 4,795.95 US dollars. Many media outlets everywhere said that the Indian version of the September 4th came, leading to the spread of panic from the afternoon.

But the heroes saw this news but they felt like they had met each other. Old retail investors may also remember that Zebpay, one of India’s largest exchanges, also announced the shutdown on September 28 last year, which also caused a panic. What I want to tell you here is that India has always maintained an unsupportive attitude towards the digital market. These exchanges in India are also struggling. In the past year, the Bank of India banned banks from providing cryptocurrency-related services. This year, it was drafted. The draft legislation that holds and buys and sells cryptocurrencies has been at the forefront of the international fight against cryptocurrencies. It is not uncommon for domestic exchanges to close down one after another. What is important is that India’s encryption market has negligible trading volume in the global market, and it has no guiding effect on the market itself. Today, the so-called India that has ceased service is announced. The largest exchange has only had more than 20 BTC transactions in the past 24 hours, so how much impact does this have on the market? More important is the psychological role of the market.



The pie was affected by the news, and it fell back at 4 am, and the trend of the 4-hour level was up. It is currently in the first stage of the 4-hour level. After the big trend, the pie will still have a big chance to attack for a period of time, and then start the daily level adjustment. During this period, the mainstream stagflation mainstream currency hopes to usher in the big cake outflow. Favor.

Of course, the trend of this stage will be relatively complicated. Why has the mainstream currency been in the state of 8,000 US dollars? First, because the funds for pushing the pie from the $9,000 all the way are mostly institutional interventions, or that sentence, retail investors rarely buy big cakes, and more are holding mainstream coins or short positions. Secondly, there may be a problem in the market, that is, after the last big pie fell to 9,000 US dollars, the main cargo was almost out, and this time the big cake was pulled up to make the mainstream currency circle. At that time, the heroes also said After EOS shipped from 8.5 US dollars, the behavior is more serious. Except for grapefruit, many mainstream currencies have signs of shipping before the Dragon Boat Festival, so the loosening of the chips in the main force may be a major cause of the recent mainstream currency failure. Except for ETH and BCH, the other coins are basically the same as the 8,000 US dollars. If the above ideas are established, then we will think about the next trend of the main force. It is the most important thing to continue to collect chips in the hands of the chips. During the period, the panic after the BTC attack is used, or the bad news causes the retailers to trample on the street. These are the ways to collect chips. Therefore, the heroes think that the mainstream currency will have a better market, but the control in the position is very important. The overall position is about 60%. If the position is not heavy, you should not kill it. However, more suffering will also usher in the reversal of the plot.

Today's analysis: The pie is currently in the first trend of the downward trend, the upward trend support level of 11,400 US dollars, today's decline released some panic, short-term concerns whether it can stabilize above the five-day line. At present, a test of the support level has been completed, and the probability of going back and oscillating after the MA5 test is large. Short-term support: $11,400, pressure: $12,800.

2 mainstream echelons

EOS: Yuzu has been weak after the last 8.7 US dollars, and it has accelerated again today. The current adjustment time is 27 days. Due to the long adjustment time, it is expected to be weaker and stronger in the market outlook. Make up some positions, short-term support: $6, pressure: $6.7.

ETH: At noon, the heroes have reminded them to lighten up in the mustard circle and wait for the opportunity to return. At present, it is in the trend of linkage cake adjustment, the trend support level: 289 US dollars, consider the batch return near the trend support, short-term maintenance adjustment trend, pressure: 330 US dollars.

ADA: Multiple impacts of $0.1 are blocked, and will remain weak for a period of time in the short term. The first batch of positions will be replenished with reference to $0.085. Pressure level: $0.095.

BCH: According to yesterday's thinking, I first stood at 500 US dollars. Unfortunately, I was dragged into the water by the big cake. In the afternoon, I once again linked the big cake to a sharp correction. As today's decline hit the 30-day moving average, I will be passively defended by the bulls. In the short term, first look at a back pumping, the back pumping pressure is 450 dollars, the support level is 410 dollars, and the position can be considered near the support level.

XRP: We have a long-term mentality towards Ruibo, and there is still no loss at the low position of $0.38. The sharp correction can be used to make up the position in batches. Today's downswing also touches the 30-day moving average. Short-term support: $0.041, pressure: $0.044.

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