While mainstream currencies are oversold and rebounding, BTC has not yet escaped from the range shock
In the early hours of yesterday, Bitcoin fell sharply, leading the entire market to decline. Some mainstream currencies hit new lows since September, and the decline in altcoins was appalling. In the evening, BTC showed signs of stopping its decline, finishing within a narrow range of 10,300-10,560 US dollars, while mainstream currencies rebounded and recovered some of their losses.
In the early hours of this morning, EOS rioted, and the hourly line rebounded in heavy volume, with an increase of more than 10%. It recovered the recent decline in one fell swoop, and the trend was extremely strong.The mainstream currencies collectively follow the rebound, came to the range high in early September. However, the trend of the BTC market has not seen an obvious rebound trend, and it is still in the range of shocks.
The current trend is somewhat abnormal, and it cannot be judged that the rising opportunity of mainstream currencies is coming, and the market is not stable.. Judging from the amount released by EOS in a short period of time, it is much weaker than the amount when the EOS surge triggered a new round of rebound, and it is difficult to support a large-scale rebound trend. The EOS daily line level is still affected by the MA60 daily average. suppression. On the other hand, alsoIt is necessary to beware of the situation where the BTC retracement causes the mainstream currency to fall againOperation suggestion:
Operation suggestion:
BTC: The daily line level continues the trend of shrinking and finishing, suppressed by the downward trend line, and has not fully stabilized the MA60 daily moving average. At the hourly line level, the trend is organized in the range of 10,300-10,580 US dollars. There is a certain support in the market. In the case of mainstream currencies not falling, there is a chance to continue to fluctuate upwards and hit the recent pressure of 11,000 US dollars again.
ETH: The rebound trend is strong. There are two upward trends at the hourly line level. It reached the range high in September. It can stand at 180 US dollars in a short time, and it will soon reach 200 US dollars. The short-term support is at 177 US dollars.
LTC: A short-term rebound, the volume has increased slightly, and it has reached the previous pressure range. If the $70 can stand firm, there is still room for upward movement.
BCH: The overall trend is strong, recovering the decline after the 8.29 plunge, and returning to the pressure range, it can stand firm at $300 in a short time, and there is a rebound in the market.
EOS: Leading the mainstream currency, rebounded more than 10% in a short period of time, and both volume and price have risen. It is currently running in the pressure range of 3.6-3.8 US dollars. It is necessary to pay attention to the breakthrough of this range, and it is in the process of retracement for a short time.
XRP: There was a slight rebound in the short term, but the rebound rate was weak among mainstream currencies. The short-term pressure was 0.27 US dollars, and the amount released was not large, so it followed the trend.
TRX: It rebounded slightly in the short term. It is currently in the range of 0.015-0016 US dollars to consolidate the trend, and the pressure range is 0.017 US dollars.
Platform currency: The overall trend follows the rebound, but the rebound rate is significantly weaker than that of the mainstream currency, and it will continue to see the trend of shocks in the short term. BNB is fluctuating in the range of 20-24 US dollars, HT is in the range of 3.9-4.1 US dollars, OKB is in the range of 2.6-2.8 US dollars, and GT is in the range of 0.7-0.74 US dollars.
Altcoins: Consolidate the trend. When the mainstream currencies rebound, there are signs of withdrawal of funds from the altcoins. It is difficult to have a big market in a short time.
