BTC consolidated, mainstream currencies led the rise, and the overall rebound has not yet come

In the two days of the weekend, led by EOS, the mainstream currencies rose across the board. EOS rose by nearly 20%, ETH rose by 10%, BCH rose by 9%, and LTC rose by 10%. In contrast, BTC in the broader market did not perform well, and it was still oscillating between small groups.

This abnormal trend has caused inconsistent expectations in the market. Many people saw the rise of mainstream currencies, worried about missing the opportunity, and chased them in again, and then got caught. actually,first,。

first,BTC's market position is beyond doubt. Since the beginning of this year, BTC has been the bellwether of the market, accounting for nearly 70% of its market value. We can use the trend of BTC to set the tone for the overall trend of the market.

At the daily level, BTC is still in the downward trend after the third big rebound this year, and it is in the triangle finishing shape in the range of 9000-14000 US dollars as a whole, which belongs to the situation of pressure on the top and support on the bottom, and from the highest point to the present, the trading volume has been shrinking for more than two months. This is a typical consolidation trend. Before a clear signal is issued, the trend remains the same.

In the past two days, even though the mainstream currencies have collectively rioted, BTC has not acted, and it is still oscillating between small communities, which means thatThe market does not recognize the coming of the big market, and the big funds have not moved. This is the premise. Looking at the market under this tone, the overall trend is still in order.

Secondly, let’s take a look at EOS, which has been the vanguard of the rebound in the past two days. The hourly level trend is very strong, rising from 3.1 US dollars to a maximum of 3.8 US dollars, an increase of more than 20%.

But judging from the daily level, it can only be regarded as a small rebound, which slightly reversed the previous downward trend, because the previous trend was too weak, and it would be okay to rebound after an oversold.At present, it is still at the lower edge of the overall range, and even the MA60 daily moving average (3.9-4 US dollars) has not been broken. It is too early to say a big rebound. If the follow-up can increase in volume again and break through the pressure, it means that the rebound trend is coming.

Finally, let’s take a look at the altcoins. A few days ago, when the mainstream currencies followed the BTC community, some altcoins rose by more than 50%, which was very attractive. However, in the past few days, the altcoins have not risen much. The currency is facing a plummeting situation, and the overall trend is relatively weak. From this point of view, the overall trend at this stage is still unchanged.Theoretically speaking, the collective absence of altcoins this year has risen, and the oversold has been serious. If the big market really reverses, altcoins should collectively riot. If it does not appear, it means that the overall environment is still cautiousOperation suggestion:

Operation suggestion:

BTC: Short-term currency price retracement, once again running to around 10,000 US dollars, to test the support of this point, 10,000 US dollars is an important psychological barrier, once it is effectively broken, the market panic, it may go down soon To 9,500 US dollars, or even around 9,000 US dollars, so you can't miss it. If it stops falling and rebounds in a short time, it will only be a weak rebound. Above 10400, 10600, 10800, and 11000 US dollars are all pressure levels, and there must be a lot of energy to break through.

ETH: Short-term retracement trend, the hourly level of $176 is weak support, and $185 is the pressure level. If it can stand firm at $185, the subsequent upside is expected to open.

LTC: The currency price fell simultaneously, and the overall operation was in the range of 64-72 US dollars. It followed the trend in the short term, and there was no independent market.

BCH: Keeping pace with BTC, the amplitude is small, the currency price has a certain degree of support, and the short-term range fluctuates between 280-310 US dollars.

EOS: After the currency price has risen, there is some support on the market. The short-term range of 3.5-3.6 US dollars is the support level, and 3.9-4 US dollars is the upper pressure. EOS is a currency that retail investors have a heavy cart, and dealers have a high degree of control, so they need to pay attention to market risks and not go against the trend.

XRP: short-term volatile trend, 0.25-0.266 US dollars range consolidation, from the perspective of the trend, the support is weak, once the market is unstable, it is likely to fall again, short-term operation is not recommended.

TRX: It was seriously oversold before, and it maintained a range-bound trend in the short term, with the support at $0.015.

Platform currency: The overall market fluctuates and organizes, and the volume is weak, and it is difficult to have a big market in a short time. It is recommended to pay attention to the breakthrough of the daily support and pressure levels (BNB 20/24, HT 3.7/4.4, OKB 2.3/3, GT 0.7/0.8).

Altcoins: The overall trend is still weak, and we will continue to wait and see in the short term.