April 27th market analysis: How far can the market be activated by issuing additional USDT?
Yesterday, the stable currency USDT re-emerged in the crisis of trust, and the over-the-counter transaction was discounted. The USDT was frequently issued in April, causing inflation in the market, resulting in a sharp rebound in the mainstream currencies represented by BTC and BNB, but the market did not have any new funds. Inflow is just an illusory appearance. Especially in the end, no matter how BNB and BTC are pulled up, the other targets have not followed. This shows that the market does not really attract investors to enter the market. Now the trading volume with USDT accounts for more than 80% of the total market transaction volume, so Although the USDT is disgusting, there is no way to take it for the time being.
According to TokenAnalyst, approximately 17,250 bitcoins (approximately $89 million) were taken from Bitfinex's BTC cold wallet at 6:35 am (GMT) today (April 26). As of press time, the balance of the cold wallet was 102,285 BTCs (approximately $525.5 million). At the same time, approximately 633,300 ETHs (approximately $96 million) were removed from Bitfinex's ETH cold wallet. As of press time, the ETH cold wallet has a balance of 1.62 million ETHs (approximately $245.6 million). It is unclear whether the wallet receiving the transfer is also part of Bitfinex, and it is not clear whether Bitfinex customers have extracted Bitcoin into their personal wallet. What will happen to the market if these coins come out?
For the bad of USDT, it is good for BTC and BNB, but we can't see the market risk aversion. BTC has not yet recovered the long negative line, which is the overall market. The trading is not active. From the time-sharing chart, we can see that the BTC volume has shrunk. The 5280USDT is afraid that it can no longer be effectively supported. In particular, the BTC/USD price difference with the futures contract is very large. The discount is very serious. We expect the target to be In the lower rail position of the exploration channel, the position of the lower rail is higher than the previous low of 5150USDT. If it falls below 5150USDT, it will return to the support of 4800USDT, and the price below 4800USDT will leave. Pay special attention here, the price of the futures contract hit a minimum of 4,800 US dollars, if you break this point to leave.
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ETH yesterday closed a heavy-weight K-line. From a time-sharing perspective, there is no follow-up volume follow-up after the heavy volume. It will soon explore the support of 150USDT, which is a more important support level. If it falls, it may continue to run along the flag-shaped channel line. There is no independent trend in the short term. Follow the trend of BTC. There is no obvious positive and bad in the near future. It is recommended to wait and see.
XRP and USDT are actually facing the same problem. XRP is also constantly releasing liquidity to the market. The liquidity is increasing, and the market does not have enough funds to undertake. Therefore, the value of the target will be diluted and the price of the currency will fall. The target is relatively weak in the top ten cryptocurrency of the market value. It is now close to the lowest point of this year. There are signs of stabilization. Observe whether the target can stabilize and rebound at this position and return to the 5 antennas. The target should be back to 0.32. We will re-submit the operation comments on the target, and we recommend to continue to wait and see.
BCH can be seen from the daily chart, has been falling along 5 antennas, macd indicator opening downwards, BTC did not break the position, but the target broke through 265 dollars, did not trigger a rebound, indicating that standing is not the bottom The target will continue to explore to find support, pay attention to the support at 250USDT.
The LTC is also oscillating and arranging not far from the bottom of the box. It can be seen from the time-sharing K-line chart that the target has experienced a wave of heavy volume, but it does not stand back to the bottom of the 75USDT box. Stand back to the downward pressure line. If the target falls again and breaks through 70USDT, it will quickly fall to the strong support level of 62 US dollars. Pay attention to the risk. If the heavy volume returns to 75 US dollars, the bearish will be invalid and the tank will continue to fluctuate.
EOS has a strong pressure of 5 US dollars, and there is a strong support of 4.4 US dollars. It is expected that it will be oscillated within this range in the short term. It is recommended to wait and see. When the market is in turmoil, it will not be able to perform. Can not walk out of the independent trend.
BNB is still running in the flag-shaped channel. It can still be maintained in the orbit for a period of time in the short term, or it is the last line of defense for the long position near $20. If it breaks, the bear will dominate the target and pay attention to the risk.
TRX has signs of falling, paying attention to whether the target can stand back to 5 antennas and 5 antennas head up, with 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. $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!
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