July 29th market analysis: the needle market reappears, the market will stop falling?

The tether hearing will be held today. The market reaction is relatively dull. There is no overreaction. It is expected that this hearing will not have a big impact on the market. BTC has a pin market in the morning, and the lowest price is down to $9,177. Quickly pulled up, now back to the shock zone around 9500, the mainstream currency trend is basically synchronized.

The strong economic data of the United States suppressed the expectation of a 50 basis point rate cut. The US dollar index continued to strengthen, but the gold bulls did not stop there. They remained at a high level and the drivers broke. The US dollar index has been a negative correlation with gold. Does the rise indicate that the economic conditions of emerging market countries are worrying? South Korea, known as the economic canary, has been in trouble for a long time, and there is no sign of a easing of disputes with Japan. The reason why South Korea has become a canary is because the Korean market is small and the economy has no strategic depth, mainly concentrated in several industries. The last round of the Southeast Asian financial crisis is also very miserable. South Korea itself is facing more economic pressure than Japan. This time Japan is probably going to die. South Korea is also the first to cut interest rates and try to hedge the economy. Stress, but can stop the economic crisis? The world's major central banks such as China and Russia are increasing their holdings of gold. Is this a signal?

BTC

BTC showed a wave of diving in the morning, the lowest hit to 9177 US dollars, the volume quickly pulled up, and returned to the shock range around 9500 US dollars, from the daily chart to see a little bit to the single needle bottom, plus this time The exploration is not far from the previous low of 9057 US dollars. The limited similarity to the double bottom shape, but we have seen that the single needle bottom volume has not been put a lot, but is still in a relatively shrinking process. In the middle, the macd indicator is still below the zero-axis, and there is no golden cross. The moving average system keeps the short position. Personally, there is a need for repeated shocks after the point is again. Waiting for the direction after the amount of land, if it stops at 9,000 dollars. Stabilization will form a double-bottom structure, which will reverse the pressure of 11,000 US dollars. If it falls below the support of 9,000 US dollars, it will need to wait and see.

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ETH

ETH followed BTC also out of the bottoming trend, the volume continued to shrink, the moving average system still kept diverging downward, forming a greater pressure on the currency price, or maintaining a double-dip judgment, the macd indicator has a golden cross under the zero axis The signs will once again look back at the bottom range of $190-200. I personally think that the target will be consolidating within the range of $190-225 in the short term, with a low draw near $190 and a near $225. High-altitude action, effectively break through 225 US dollars to 260 US dollars, effectively fell below 190 US dollars to leave, in addition to the need to keep an eye on BTC, to prevent BTC from falling, driving the target down.

BCH

BCH is relatively strong, still sticking to the bottom of the $330, not following the army to the bottom of the previous period. At present, the volume of the target has shrunk to the level of the ground, and the macd indicator is also under the zero axis. The short-term moving average has no trend direction. Personally, the table has the possibility of forming a breakthrough at any time. If it breaks through 330 US dollars, it will be bullish to 352 US dollars. If it falls below 240 US dollars, it will be bullish and will not wait and see.

BNB

BNB is consistent with the market, but also out of the single-needle bottom, but I think this bottom is unreliable, the moving average system keeps the short position, the macd indicator repeats the golden fork in the weak area, personally think that the target of this draw back Basically completed, basically can determine that 60 antennas can not effectively stand back, the target will open the bottom of the road again, personally think that the previous low of 24 US dollars can not constitute an effective support, will break through the point and continue to go down, pay attention risk.

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

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