Market Analysis: Concussion during direction selection, patiently waiting

The altcoin currency, the English name Bitcoin alternative, means "bitcoin substitute", which refers to the cryptocurrency that uses the bitcoin code as a template to partially modify the underlying technology of the Bitcoin blockchain. In the beginning, all cryptocurrencies outside of Bitcoin were called altcoins, and even included Ethereum (ETH), Litecoin (LTC) and so on. However, with the rapid growth of the cryptocurrency market, the cryptocurrency such as Ethereum has risen rapidly, which proves its practical value and becomes a hard currency in the currency market. It has removed the hat of the "cotton currency" and became the "mainstream currency". . Today, the altcoin refers to other small currencies that are not bitcoin and mainstream. It can be said that almost every day a new altcoin is born.

In the vagaries of the cryptocurrency market, there is a law: bitcoin rises, the altcoin rises, bitcoin falls, and the altcoin falls. However, in the course of the skyrocketing bitcoin in the past two days, the altcoin has no movement. In order to avoid being sucked by bitcoin or smashing a wave of heat, many altcoins have launched a "self-rescue movement."


BTC continued to oscillate sideways. Up to now, there has not been a higher position than yesterday's $12,480. The trading volume continues to shrink. We have not chosen the direction and wait patiently. I personally prefer the previous judgment and are currently in a B wave rebound. In the structure, there is the main wave of C waves. I personally think that it is still going to fall below the $10,000 mark. In the end, it may be effectively supported in the area of ​​9000-9300 USD, or the target direct volume will be $12,800. It will once again challenge the rebound high of $13,968.


Recently, ETH is a good support. V God brushed his face in Beijing, Ethereum 2.0, switched to PoS mechanism. It seems that there are still many people expecting it. ETH has really risen a bit, at least slightly stronger than BTC. At present, the important pressure that has rebounded to $320 is that there will be another direction choice here. The volume is not very satisfactory. I personally think that the pressure of $320 will not be effectively broken, or that the trend of ABC will be maintained. Will further explore the support, or form a certain support around $ 225.


Yesterday, LTC took the lead and quickly pulled up to lead the market to counterattack. However, we saw that BTC did not cooperate with the market, but it was oscillating around 12,000 US dollars. Several main funds in the market could not form a synergy and could not push the market to continue to rise. Although LTC has already reversed the previous big Yangxian line, the transaction volume is slightly lacking. At present, it is facing the pressure of 140 US dollars. At this point, it can be a new high, but it must be heavy. It is difficult to form an effective breakthrough without any heavy volume. The pull-up seems to have blocked the space of the 5 waves falling, and the 5 waves may go through the failure wave, and may make a double bottom.


BNB yesterday countered the pressure of 35.5 US dollars, failed to stand back, did not stand 5 antennas, 5 antennas continued to downward, forming a certain pressure on the price of the currency, the target's falling structure has not been completed, the target has not yet arrived After the macd indicator deviates from the dead fork, I personally think that the target will continue to test the support of $32.5. In the short term, I think the target will continue to run along the flag-shaped channel, and it will leave the lower track. Wait and see.

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