Bitcoin is rising strongly, can the $12,000 breakout be successful?
Bitcoin successfully broke through 11,000 US dollars today, and the volume and price rose together, and the K-line showed a 90-degree upward trend, showing the strength of the bulls. Judging from the market, it was still fluctuating around 10,800 US dollars a few days ago, and it even retreated during the day yesterday, and the market was once in a state of anxiety. Therefore, today's strong trend is driven by the outside world.
On the news, the RMB exchange rate broke 7 today, triggering risk aversion in the market, and we can see that both the US dollar and gold have risen. Bitcoin, as an emerging safe-haven asset known to mainstream groups since this year, has also seen a simultaneous rise. Based on this, it can be judged that it is driven by capital risk aversion.
Regarding the exchange rate, the central bank said, “Affected by unilateralism, trade protectionist measures, and expectations of additional tariffs on China, the exchange rate of the RMB against the US dollar has depreciated today, breaking through 7 yuan, but the RMB remains stable against a basket of currencies. This is a reflection of market supply and demand and fluctuations in the international foreign exchange market. The long-term trend of the RMB exchange rate depends on fundamentals, and the short-term market supply and demand and the trend of the US dollar will also have a greater impact.”
Therefore, I think there is no need to worry too much. The stability of the RMB exchange rate is still very good. Both the macro and fundamental aspects have strong support and guarantee. As for the impact of this news on the digital currency market, it may be in the short term, but its influence will be greatly weakened afterwards.
We know that the capital market is a process involving many people. All the news is just an inducement to influence the emotions and decision-making actions of the participants. Behind it is a game of multi-party forces. The ultimate fundamental point is still to be attributed to the investment target itself. value and potential.
Operation suggestion:
Operation suggestion:
BTC: It was an overall downward trend in July before, but a series of recent events (Federal Reserve rate cuts, sweater wars, exchange rates, etc.) have increased the demand for hedging, and the market of BTC has improved. The daily line level can be divided into three stages, as shown in the figure below. Currently in stage 3, the overall trend continues the trend of the previous two stages. At first, it rose slightly, and then the volume gradually increased. At a certain stage, it was stimulated by external news, causing the disk to enter an accelerated upward trend, and the K-line entity to enlarge simultaneously. Today, BTC's increase suddenly increased, rising by nearly 1,000 points, and there is a tendency to accelerate the rise.
At the 4-hour line level, the rising volume is obvious. We have been paying attention to the changes in volume before. Only when the volume rises can it represent the dealer's clear intention. At present, the bulls are powerful, and they will test the upper pressure level of 12,000 US dollars in a short time. At this stage, it is not suitable to be short-term or blindly guess the top and short-selling orders. It is better to stand still than to go against the trend.
ETH: In the past few days, it has been in a range-bound trend, and the direction is unclear. Today, under the strength of the big pie, there is room for supplementary growth and some energy has been released. However, from the 4-hour K-line, the $230-240 area is still the recent pressure level, and the rebound is weak.
LTC: The rebound is weak, and the $100 mark is still a relatively strong pressure. At around 18:20 tonight, the LTC halving cycle will officially come. The mining reward will change from 25 to 12.5, and the annual inflation rate will drop from 8.77% to 4.26%. The reduction of mining rewards may cause miners to adopt a strategy of shutting down due to insufficient income. It is necessary to beware of market retracement caused by dealers taking the opportunity to smash the market. However, according to the current trend of Bitcoin, even if there is a retracement of LTC, it is difficult to affect the overall situation.
BCH: Follow the rebound, but both the currency price and volume are very weak, and the upper part is facing pressure in the range of 350-370 US dollars. Only when it breaks through this range strongly, can the currency price reach a new high.
EOS: It rebounded slightly today, but compared with the big pie, it is not worth mentioning. The current pressure is in the range of 4.4-4.5 dollars, and the amount is insufficient.
XRP and TRX: The trend is weak, the rebound is weak, XRP short-term support is 0.3 dollars, the pressure is 0.33 dollars, TRX is supported at 0.0215 dollars, the pressure is 0.024 dollars, continue to wait and see.
Platform currency: The short-term trend continues to fluctuate. BNB and HT fluctuate at high levels, and OKB hits a new high. The upper pressure is at 3.5-4 US dollars, and 3 US dollars constitutes a short-term support. GT fluctuates upwards, and US$1 is a strong short-term pressure.
Today, the big pie rose strongly, and some altcoins followed, but the rise was weak. It is still recommended to watch more and move less. After the big pie successfully breaks through 12,000 US dollars, it will be considered according to the market at that time. In addition, if you have any currency you want to analyze, welcome to ask questions in the message area.
