BNB stopped falling and rebounded! Concerned about the second rebound opportunity of EOS, LTC and XTZ
But one hour after the incident, Sun Yuchen sent Weibo to deposit 7,000 bitcoins in his own name to increase the holding of BNB. Affected by this news, the price of BNB began to rebound.
From a technical point of view, between 19.99-19.41 US dollars in the intersection of the previous breakthrough platform and the 55-day moving average, has a strong support force, if the BNB daily line is maintained above this region, the future can look for opportunities to rebound.
The BNB incident in the morning also affected the BTC to some extent. From the 30-minute chart, we can see that the volume dropped by about 3% in 7-8 hours. Although this decline is related to the sudden news, from the structural point of view, it is more like the continuation of the big Yinxian at 22 o'clock last night. At present, BTC's trend in the 30-minute level is relatively weak, but from the 4-hour and daily-level levels, the trend of BTC is still a normal high-level consolidation pattern.
From the perspective of BTC's overall market share, the current BTC has accounted for 56.08% and is only 10% higher than the 18-year high. However, the proportion of other mainstream currencies in the market has been on the decline. This divergence in market value illustrates two problems: 1 The market highly recognizes the investment value of BTC, 2 there are very few hot spots in the market, and there are not many mainstream currencies that can be invested or speculated.
The herd effect is evident in the cryptocurrency market. On the one hand, Bitcoin is more resilient, and every time the market declines, Bitcoin can quickly regain lost ground. On the other hand, when the market really encounters strong resistance, serious pedaling may occur.
Yesterday, in the BlockVC research report, we saw a bitcoin chip distribution map. As can be seen from the figure, there is a strong resistance pressure on Bitcoin near $6300-6500.
From the technical analysis point of view, the $6,300-6,500 is also the price range for Bitcoin's long-term sideways in the second half of last year. After the break, the area became a set-up. In general, the long-term sideways set of the plate has a very strong resistance effect, often requires multiple impacts to be broken, and it is best to cooperate with the support of a large number of admission funds in the market.
We can also see the difficulty of the breakthrough from the performance of the strong currency in the previous period.
Judging from the current situation of BTC, there may still be a willingness to rush in the short term, but in the face of strong resistance, investors should remain rational.
At present, market funds have become different. When the BTC rises, other currencies will not necessarily rise, and when the BTC falls, other currencies may be more powerful. In this case, in addition to holding the currency, we can pay more attention to the second rebound opportunity of the previous strong currency. Just like the EOS, LTC, and XTZ daily charts on the top, they all hit the last year's nesting area before BTC, and they have already fallen back. From an empirical point of view, this kind of strong currency generally has a chance of a second rebound. It is recommended that investors should buy a position after the price reversal and the MACD 0 axis appear above the gold fork, which is more secure.
The performance of ETH is undoubtedly a bit of an anticlimax. Yesterday we said that ETH is currently on the upper edge of the bottom shock box, and now it is not a good opportunity to start a position. From a large structure point of view, the high point of April 8 has also encountered the lower edge of the platform formed between September and November last year. If ETH can oscillate the tray of the pre-digestion platform in the range of 150-180, it is more likely to pull up later. (CoinNess)