Can Bitcoin hold the $10,000 mark?

Previous review

BTC: If the volume has not been amplified, the BTC's upside momentum will be gradually exhausted and will return to the downtrend channel again. If the volume exceeds the $11,000 mark, it will turn into an upward trend. The BTC fell to a minimum of $9,880 and is currently at a low level.

ETH: ETH resistance line moves down, resistance range is $178~$180. If ETH can't break the volume, it will still lower the bottom support. ETH drops to a minimum of $165, and the bottom support has some support.

TRX: At present, the TRX one-hour MACD is in a divergence state, and there is a rebound demand in the short term. However, if it is unable to increase the volume by $0.015, the rebound space is limited. TRX rose as much as $0.016, a rise of nearly 15%.

Highlights of this issue

Summary: According to the standard consensus sentiment index, the current market sentiment is stable, the latest index is 0.7, the market sentiment index is in a gradual decline, and the volume of transactions is significantly narrowed. In the short term, it will continue to be dominated by shocks. If no new funds are available, the market will continue to decline.

BTC: In the short term, BTC will still fluctuate around $10,000, waiting for the choice. If the market is unable to inject upside momentum into BTC, the price of BTC will still be mainly down.

ETH: ETH retests the $165 support range. If the rebound is still unable to push ETH, then when the $165 support interval is tested again, the high probability will break through the support range and continue to fall.

EOS: At present, there is still a period of good EOS distance, and there is still some imagination in the market. If the transaction volume is still unable to be effectively enlarged, after the profit is realized, there may be profit taking.

Current report

As of the publication of the report (September 12, 2019), the total market value of global digital currency assets on Thursday was US$ 259.463 billion, a year-on-year decrease of US$ 9.237 billion, a decrease of 3.44%. The 24-hour market turnover was US$51.27 billion, up 8.7 billion USD, or 1.73%. In the case of a decline in market capitalization, the 24-hour turnover is in a relatively stable state. It shows that the market funds are still in a wait-and-see state for the decline, and there is no panic mentality, but the willingness to enter the bottom is also not strong. In the short term, the market will continue to maintain a volatile trend, waiting for a clear direction signal.

Source: Standard Consensus, CoinMarketCap

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According to the standard consensus sentiment index, the current market sentiment is stable, the latest index is 0.7, the market sentiment index is in a gradual decline, and the volume of transactions is significantly narrowed. In the short term, it will continue to be dominated by shocks. If no new funds are available, the market will continue to decline. At the same time, according to the ratio of bitcoin to total market capitalization, the market value of bitcoin has declined to a certain extent, down 0.81% year-on-year. The market value of bitcoin is still around 70%, which is in absolute control of the market; while the market value of other currencies is not obvious. The change was only 0.22% year-on-year. BTC is still in the absolute dominance of the market. The rise and fall of BTC will continue to affect the market trend, but the willingness to rise in other currencies of the market is not strong and is in a weak position. The market is overly dependent on bitcoin.

Source: Standard Consensus, CoinMarketCap

According to the standard consensus halving countdown index, the current block height of BTC is 594,450, and there are still 232 days from the next halving. It will take some time for BTC to achieve a halving of expectations. However, investors should pay attention to the halving of BTC. When the next halving approach, BTC prices will once again enter a fast-rising cycle.

Review and analysis of the trend of BTC, ETH and EOS

According to CoinMarketCap data, BTC's average daily turnover rate was 8.54% on the 7th, which was 2.07% lower than the average daily turnover rate in three months, and 0.05% higher than the average daily turnover rate in the previous week. This week, the price of BTC is in a downward trend. The volume of trading has not been significantly enlarged during the gradient decline, indicating that investors are not panicking, but the desire to hunch is not strong. In the short term, BTC will still fluctuate around $10,000, waiting for the choice. If the market is unable to inject upside momentum into BTC, the price of BTC will still be mainly down.

According to CoinMarketCap data, ETH's average daily turnover rate was 34.61% on the 7th, which was 3.71% higher than the average daily turnover rate in three months, and 1.22% higher than the average daily turnover rate in the previous week. This week, ETH fell to a minimum of $165, then quickly rebounded to $185, a rise of more than 10%, and the volume of trading has also increased to some extent, and the market funds gradually produce a clear willingness to bargain. ETH once again tested the $165 support range. If the rebound is still unable to push ETH, then when the $165 support interval is tested again, the high probability will break through the support range and continue to fall.

According to CoinMarketCap data, EOS's average daily turnover rate was 57.02% on the 7th, which was 10.70% higher than the average daily turnover rate in three months, and 14.00% higher than the average daily turnover rate in the previous week. EOS is the leader in this round of digital currency rebound, with EOS rising to a maximum of $3.95 and a rebound of over 30%. The increase in EOS was mainly due to news that the EOS main network will be launched on September 23, which is a major market advantage. However, during the continuous push-up process, EOS's trading volume is declining, reflecting to some extent the uncertainty of investors' judgment on future prices. The investment philosophy is still based on short-term profit. At present, there is still a period of time when the EOS is well-received. There is still some imagination in the market. If the volume of transactions is still unable to be effectively enlarged, profit-taking may occur after the cash is realized.

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