Market Analysis Report: Bitcoin shocks down, market sentiment is stable
BTC: This week, BTC basically completed the rebound trend. In the short term, it entered the downside range. The power of many parties has not been completely lost. It will go out of a turbulent trend, but the overall trend of the market is still dominated by bearishness. The BTC is currently down to $8,100, with the shock falling mainly, but the decline is small.
ETH: ETH's current support range is at $180. If the re-quantity falls below $180, the downtrend channel will open. The ETH volume fell below $180 and the lows fluctuated.
EOS: EOS investors have insufficient confidence. Once they fall, the volume will be enlarged to some extent. The current support range is around $3.00, but the support is not strong. EOS volume fell below $3.00 and everyone fell.
Highlights of this issue
Summary: According to the standard consensus sentiment index, the current market sentiment is stable, the latest index is 0.88, and the market enters a downward trend. In the short term, the market trend is dominated by shocks and the strength of the empty side is enhanced.
BTC: BTC has a pressure drop, and the pressure is at the level of $8,300. There is a certain rebound demand in the short term.
ETH: ETH If you can't regain the $180 line in the short term, you will look down again for the support zone.
In the operation of the platform to feedback the phase I quantitative product, the yin Baoyang trend was applied to confirm the short-selling transaction, and then the net value of the entire quantitative product also increased.
Yin Bao Yang: Refers to a Yinxian line that engulfs the previous Yangxian line. It usually means that the short position has an absolute advantage, and the market outlook is likely to continue to fall.
1. The price has risen to a large extent in the early period, and the funds have the will to flee;
2. Before the formation of Yin Baoyang, the transaction volume has begun to enlarge, and the volume of the post-yin line needs to be far more than the volume of the Yangxian line;
3. After the formation of Yin Baoyang, the price continues to fall, confirming the Yin Baoyang.
Take the trend of BTC on October 11 as an example. From October 7th, the BTC price rose from $7,800 to $8,700 in four days, an increase of nearly 12%. In the process of 11 o'clock on the 11th, although there is a certain amount of volume, but the transaction volume is relatively weaker than the previous period, the price will fall rapidly, and the price will gradually fall, and the Yinxian volume will continue to enlarge, ending the one-hour line. The volume of the Yinxian line is nearly 4 times that of the Yangxian. At this time, the trend of Yin Baoyang is basically confirmed. If the closing price of $8,440 is 1 short, the short-term trading price is about 4%.
The Yinbaoyang trend confirms simple conditions and has a high success rate. The main risk point is that traders need to control the stop loss and take profit intervals.
As of the publication of the report (October 16, 2019), the total market value of global digital currency assets on Wednesday was US$224.539 billion, down by US$401 million year-on-year, down 0.18%. The 24-hour market turnover was US$55.554 billion, up US$3.668 billion year-on-year, up 7.08%. There was no significant change in the overall market value of the market, and there was a certain increase in the 24-hour turnover, but overall it was in a downward state. The market is in a certain stage of disorderly volatility, the desire for short-term funds to enter the market is reduced, and the wait-and-see mood is strong, waiting for the market's obvious choice signal.
Source: Standard Consensus, CoinMarketCap
According to the standard consensus sentiment index, the current market sentiment is stable, the latest index is 0.88, and the market enters a downward trend. In the short term, the market trend is dominated by shocks and the strength of the empty side is enhanced. At the same time, according to the ratio of bitcoin to total market capitalization, the market value of bitcoin declined, down by 0.04% year-on-year. The market value of bitcoin accounted for less than 70%, but still more than 65% in market control; while other currencies accounted for market value. Compared with no significant change, it only decreased by 0.04% year-on-year. BTC is still in the dominance of the market, and the rise and fall of BTC will continue to affect the market trend, and the market enters the downtrend channel.
Source: Standard Consensus, CoinMarketCap
According to the standard consensus halving countdown index, the current block height of BTC is 599,552, and there are still 203 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. However, the efficiency of mining has declined recently, and the miners’ willingness to mine is reduced.
BTC, ETH trend review and analysis
According to CoinMarketCap data, BTC's average daily turnover rate was 10.90% on the 7th, which was 1.42% higher than the average daily turnover rate in three months, and 1.33% higher than the average daily turnover rate in the previous week. The BTC is in a disorderly and volatile trend. Although there is a certain degree of decline, the overall decline is not large, and it is still within the range of shock selection. The pressure on the BTC has dropped, and the pressure is at the $8,300 line. There is a certain rebound demand in the short term.
According to CoinMarketCap data, ETH's average daily turnover rate was 39.73% on the 7th, which was 5.90% higher than the average daily turnover rate in three months, and 5.61% higher than the average daily turnover rate in the previous week. The ETH volume fell below the $180 support line, opening the downtrend channel to a certain extent. At present, the ETH price is still within the support range and the air force is gradually increasing. If ETH can't regain the $180 line in the short term, it will look down again for the support zone.