Market Analysis: Early Warning! Short-term callback risk is intensifying

Interpretation today

In the article "Europa's Reluctance – Research on the Development of the European Blockchain Industry", we mentioned that the European continent has an incentive policy for blockchain development. More blockchain courses, an active developer community, numerous blockchain meetings, and better infrastructure have built a friendly and innovative environment. Among them, France has a greater interest in the blockchain. Especially in the financing of blockchain projects, France passed the 26th article of the Act PACTE on September 12, 2018, and obtained a pass for the blockchain project at the Crowdsale event in France.

Recently, French financial market regulator Autorite des march (AMF) drafted a regulatory bill to eliminate the long-standing problem faced by startups engaged in encryption certificates: the lack of bank support. Under the framework of the bill, these startups will receive bank support under the premise of state regulation.

Domitilletine, head of AMF's financial technology, innovation and competitiveness department, said that start-up owners had "strong feedback" on banking needs, and the French authorities have now reached a consensus on this bill.

Dessertine, who has been responsible for overseeing the new regulations for the past two years, said that the French government and legislators "are very supportive of this (the start-up owner should have a bank account) rights, as long as the company is regulated, it has the right to open a bank account." She further explained that under the new law, banks now have a responsibility to explain why they do not provide services to start-ups.

Dessertine said that many Crowdsale had encountered similar situations a few years ago, when banks were reluctant to open accounts for such companies/projects because the funds came from the Internet and could not be verified as formal channels. However, she said that “all types of banks, regardless of size” will be subject to the new bill.

This new regulation is part of a number of blockchain-related bills passed by the National Assembly on April 11 and belongs to PACTE. The government plans to create a legal environment that is more conducive to the growth of SMEs in the blockchain sector.

Emilien Bernard-Alzias, a partner at Simmons in Paris, pointed out that for a long time, the French parliament, especially the so-called “crypto-pass representative”, has always wanted to make the days of entrepreneurs in the blockchain field better.

“Before the PACTE bill was enacted, this was a struggle for blockchain-related companies to open accounts in French banks. But now, French banks that refuse to open accounts will have to explain to French regulators the reasons for their refusal.”

Market research

Overall view

Today, the BTC is mainly adjusted sideways, and the market continues to break the middle track. The risk of short-term market downturn is intensified.

BTC today mainly focused on sideways adjustment. The 4-hour BOLL line shows that the empty side continuously suppresses the BTC near the middle rail. In the afternoon, it finally reaches an effective break and will test the lower rail support. Although the 4-hour MACD line is above the 0-axis, the situation of the dead fork continues, and the market is more pessimistic. From the perspective of VOLUM, today's BTC airpower is dominant. Based on the above technical indicators, the market outlook is optimistic and further falls into a high probability event. In the long run, the bull market is gradually showing up. In the short term, the risk of callback is intensifying. The pressure is 5450 and the support is 5300.

The trend linked the BTC, but the performance was weak. Pressure level 167, support level 160.

EOS also links BTC, similar to ETH. Pressure level 5, support level 4.5.

risk warning

The price of digital pass is fluctuating violently. Investment digital pass is a high-risk investment behavior. Investors should reasonably assess their investment ability and risk tolerance, use leverage carefully, strictly control risks, and invest carefully. Investors are advised to keep in mind that investments are risky and require caution when entering the market.


Personal opinions are for reference only. The analysis in the text does not constitute a recommendation for trading, and the profit and loss is self-sufficient. Welcome to reprint, but need to indicate the source.

(Source: full currency)

We will continue to update Blocking; if you have any questions or suggestions, please contact us!


Was this article helpful?

93 out of 132 found this helpful

Discover more


On-chain data February scan: Coin price roller coaster, boosting on-chain data, is there a relationship between the two?

According to CoinDesk data, in February 2020, the price of Bitcoin continued to rise in January, but began to adjust ...


Ether ETFs: Will We See Explosive Growth or Sustained Stability?

Following the approval of spot bitcoin ETFs in January, enthusiasm for ether bets has notably increased among ETH tra...


Bitcoin bounces back as $150K target for 2024 is within sight.

Crypto markets experienced a slight decline of 10% in the last 24 hours, but were quickly met with a bullish response.


Why Does Momentum Trading Thrive in the Cryptocurrency Jungle?

According to Todd Groth, head of research at CoinDesk Indices, the unique features of the crypto market make it ideal...


Prepping for a positive market with ETH ETF approval

Exciting news the much-anticipated Ethereum ETF decision is just around the corner! Regardless of whether you are exp...


Digital Asset Listings and Delistings: A Delightful Mix of Additions and Subtractions

Check out our latest roundup of crypto exchange updates, including digital asset listings and delistings, as well as ...