Market analysis: In the mid-autumn festival, watch the market changes
9.13 Market Overview
The current total number of cryptocurrencies: 2718. There are currently 20566 exchanges on the market. Total market capitalization of cryptocurrencies: $185.6 billion, with a 24-hour trading volume of $37.7 billion. Bitcoin currently accounts for 70% of the total amount. The 24-hour increase was 0.45%. Bitcoin is currently fluctuating at 10100USD. Temporary offer 10130USD
BTC
The market has been falling slowly over the past few days. It is obvious that the funds are gradually being sold out, but at the same time, the contradiction is that if the future is very optimistic about the halving market, it will not be sold at this time, so the reason for doing so It just has to be sold, so the 10,000-point mark generally recognized by the market is still very stable, and other mainstream currencies have fallen by 50%. No matter from which point, they have entered a mid-term rebound stage, so we don't have to worry too much.
From a technical point of view, the Bollinger Bands at the daily line level have flattened, the upper moving average system is concentrated to form a suppression, and the intersection of the MA5 and MA30 moving averages forms a dead cross suppression near 10150, which undoubtedly adds another resistance to the upward movement of the bulls within the day. In the short-term four hours, the k-line continues to run between the middle and lower rails of the Bollinger, and the middle rail of the Bollinger near 10200 becomes a resistance. In a weak market, if the bulls want to reverse, they first need to break through the dead fork suppression of the daily line and the four-hour cloth. Linzhong rail resistance level.
BTC broke below the moving averages, which is a bearish sign. It may retest the trendline of the symmetrical triangle again. Both moving averages are flat and the RSI is just below the midpoint, which points to consolidation in the short-term. A breakout of the symmetrical triangle upwards or downwards will determine the trend direction for BTC. Symmetrical triangles are usually continuation patterns, but they can sometimes become reversal patterns. Therefore, it is difficult to predict the direction of the breakout.
Ethereum
Ethereum
The bulls failed to propel ETH above the 20-day EMA. It could drop again to the critical support at $163.755. If the decline continues, the trend will turn bearish and a drop to $150 is possible.
However, if the bulls form support at $163.755, ETH may remain range-bound for a few days. An upside break above the 20-day EMA would be the first signal that the downtrend is over, and a break above $235.70 would confirm a new uptrend. It is recommended to wait for a breakout of the 50-day moving average before considering trading, having previously remained neutral on the cryptocurrency.
XRP
XRP’s rally has once again suffered a setback at the 20-day EMA, which is a bearish sign as it suggests a lack of demand for higher prices. Both moving averages are down and the RSI is in negative territory, which suggests that bears have the upper hand.
The bears are now attempting to sink the price below the critical support zone of $0.24508 to $0.225. If successful, XRP will resume the downtrend and drop to the next support at $0.19.
Heinz: HSBTC5
Heinz: HSBTC5
