April 24th market analysis: the cryptocurrency market collapsed across the board, where is the next road?
The typical representative of 1CO chaos, the "hero chain" fraud case that broke the line, ushered in the results. On April 23, 2019, according to the police of the Zhuhui Branch of the Public Security Bureau of Hengyang City, the bureau successfully cracked a cyber fraud case with virtual digital currency as the guise, involving more than 300 million yuan. At present, 21 suspects involved in the case have been subjected to criminal detention measures, and 15 people have been admitted, 9 of whom were arrested by the procuratorate. We believe that this result has sounded the alarm for those who are in trouble with the currency circle. Some people will choose to leave the field to wait and see, and wait for the event to further ferment. For the capital, the short-term is a bad one.
In addition, we saw Tencent released the first blockchain-based game "Catch the demon together", which uses AI image recognition technology, LBS and blockchain technology, the game will generate 110.5 billion monsters, and Stored in the blockchain, the game is on the top of the download list and is very hot. Tencent's game may be able to bring new directions to blockchain projects that are still stuck in small games such as quiz.
There has been a sharp retracement today. In fact, this phenomenon has long been a harbinger. We have seen that the two major winds in the market, BNB and BTC, have failed to drive the market to do more emotions. This is the signal that the market is weak. Yesterday The signal is already very obvious. BTC pulled up to a new high of $5,600 yesterday, but we see that the top ten cryptocurrencies in the market have not stood on their own pressure. This is the sign that the market is weak, then the market How will it work?
BTC stands for popularity and heat. BNB's pull-up can't drive the market. If the BTC's pull-up can't make the market resonate much, then there is only one explanation for it. The market has not much follow-up, and the mood is not high. The market will run in the direction of least resistance. BTC has experienced a rapid decline today, directly breaking through the upper rail support, breaking through the lower rails, and then pulling back. The current support is near the previous high of $5,400. Observe the support strength of the point and the lower rail. If it falls below the track line again, the track line will not work. You need to find the running track again. The $5170 is the last support, and the breakdown can leave the field.
ETH ETH does not have an independent trend. Most of them follow the BTC. At present, they have broken through the support of 166 US dollars. There is also an upward trend line that can be defended. If the trend line falls, it means that the adjustment cycle of this round will be very long. Breaking 150 dollars to leave the market.
XRP XRP has already penetrated all the support. The trend is the weakest of the three cryptocurrencies. It has reached the departure conditions we mentioned. It should be resolutely left. Now it has drawn down the uptrend line below and has not yet stood back. Close observation, if you can't stand back, remember not to enter blindly.
BNB BNB is still in the channel of the flag-type finishing, but there are signs of derailment. We believe that the support level of this point is near the integer mark of 20 dollars. Pay attention to the support strength of this point. If the point is lost, It is recommended to wait and see.
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!