Market Analysis: BTC continues to shrink, has to change?
According to NewsBTC, Galaxy Digital founder Mike Novogratz recently highlighted the importance of Facebook's aggressive entry into the encryption industry. Novogratz said: "Facebook is extremely important to the entire (encrypted) ecosystem. The technology behind Bitcoin is causing widespread repercussions."
In addition, contrary to popular belief, Novogratz believes that Facebook's planned launch of GlobalCoin will add value to the entire encryption ecosystem, rather than reduce it. At the same time, Bitcoin will not be negatively affected, because Bitcoin will not become a payment currency, but will become a value storage tool like gold.
BTC continued to maintain a narrow range of volatility. Yesterday's trading volume was very small, and long and short will soon fight again.
From the perspective of the daily line, the target moving average system once again formed a long-end arrangement, and the currency price stood above the 5 antennas. Although the macd is still running down the dead fork, it still maintains a strong area above the zero axis, so we I think that the current trend is more favorable to the bulls. It may be a downward pressure on the pressure line. Pay attention to the change in volume. If the volume breaks through the pressure line, it will restart a wave of upswings and defend well. If it falls below the support, it will drop $7,500. support.
ETH's 5 antennas and 10 antennas are level, the macd indicator is only bonded, not yet dead, the price of the coins is very entangled, the volume of transactions is further shrinking, and the volume has not yet been exported.
At present, the target has already reached the downward pressure line, and there is a possibility of further pull-up. If it breaks through 260 USD again, it will be bearish, it will be bullish to 300 US dollars, and it will be defensive. If it falls below 245 USD again, it will drop 225 USD. The role of the point is equivalent to the support of the BTC of $6,800. It is the last line of defense of the bulls. It falls below this point, the adjustment period is extended, and the risk is paid attention to.
XRP's 5 antennas and 10 antennas are still running downwards, and there is the possibility of re-exploring the support of 0.36 US dollars. This point will have strong support when the cake is not broken. At this point, it can be appropriately low-sucking and effectively fall. Break the point and wait and see.
Although BCH stood on the 360 antenna and the 5-day line, we saw that the target did not pull out the Yang line to prevent the macd indicator from stagnation. The volume of contraction is more serious. It may follow the BTC for a direction selection. Observe whether the target can Reached above $425.
If you stand at $425, the M head crisis will be lifted and may restart a wave of uptrend. We think the target may rise to around $506. If it is unable to attack to $425, it will further return to the M near $350. The neckline of the head fell below the point and waited.
LTC also remained above $100, but the volume of trading has shrunk significantly, the moving average system has been long, and the theoretical trend continues upwards, but the bulls have hesitated around $105. Pay attention to the pressure of $110 above, and defend well. $85 left to wait and see.
EOS maintains a shock on the 5 antennas. The macd indicator has signs of upward divergence. It is still short of volume. It may continue to fluctuate for the time being. If it breaks through 6.8 dollars again, it will increase to 8 dollars, and it will be defensive and fall below 5.7 dollars. Wait and see.
BNB is really strong. We have said many times before. The increase of the target depends entirely on the greed of the inside. How much greed will rise, and when the time is huge, the market will come to an end, or it will be effective. If you break below 5 antennas, you should also pay attention to lightening the position.
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!