EOS led the mainstream currency to make up for the short-term increase, but the future market still needs to be in line with BTC

Last night, EOS rioted again, with a short-term increase of more than 10%, breaking through the suppression of the daily MA60 moving average, and its volume and energy also increased simultaneously. The mainstream currencies followed the rebound and rose synchronously for a short time. BTC, which is an important indicator of the market, has not increased significantly, and is still in a volatile trend between small groups.

The same phenomenon happened last weekend, and EOS has a cumulative increase of 32%. Many people say that the mainstream currency has begun to reverse, let's analyze it.

First give the conclusion,These two rebounds of mainstream currencies are just a supplementary increase of mainstream currencies, not a signal of reversal. We compare the daily K-lines of mainstream currencies and BTC, as shown in the figure below:

On August 29, the overall market fell sharply, and then BTC took the lead in rebounding, recovering the decline before the mainstream currencies, and then maintained a consolidation trend in the small area. At this time, the mainstream currency, led by EOS, started the supplementary market. After two supplementary increases, ETH and LTC were able to keep up with the previous decline.

As for EOS, although the rebound rate is relatively high, we can see from the figure that the current prices of Bitcoin and mainstream currencies have reached the price in mid-August, and EOS reached this position after two pull-ups.EOS was oversold before. Reminiscent of the phenomenon of strong market control behind EOS, the current price of EOS can be regarded as a normal return. According to this way of thinking to understand, the overall market can be straightened out.

The next market trend is the key point. Both BTC and mainstream currencies have reached the shock range in the middle and late August. Compared with the previous high point in June-July, there is a considerable distance.Operation suggestion:。

Operation suggestion:

BTC: The trend of Bitcoin is still calm, and the daily line level continues to form a triangle arrangement, which is suppressed by the MA60 daily moving average and fails to break through effectively. The hourly line level is organized in the range of 10,000-10,500 US dollars. The overall trend is weak, and we continue to wait and see. The short-term support is 9,800-10,000 US dollars, and the upper pressure is 10,500-10,600 US dollars.

ETH: A short-term rebound has reached the previous pressure range. If the $185 can stand firm, it is expected to rise to around $200.

LTC: Follow the rebound, but the volume is still weak. It is difficult to break through the pressure range of 71-80 US dollars. If it can stand firm at 70 US dollars in the short term, there is still hope.

BCH: The rebound volume can be weak, and the range of 295-310 US dollars will fluctuate and consolidate the trend. It is expected to keep pace with BTC.

EOS: The daily line level is on the MA60 daily moving average, and there is still room for growth in the short term. The pressure range of 4.1-4.5 US dollars still needs a lot of energy to break through. In the short term, we need to beware of the risk of BTC falling sharply due to the retracement. The short-term support is 3.5 and 3 US dollars. Try not to open orders at the middle point.

XRP and TRX: The rebound is weak, and the trend is sorted out among the small groups, so don't pay attention to it in the short term.

Platform currency: The overall trend is in sync with the BTC market, and the range is organized, and it has not followed the rebound of mainstream currencies. From this point, it can also be seen that the mainstream currencies are just supplementing the market, and a large amount of funds have not followed, and they continue to wait and see for a short time.

Altcoins: The overall trend is still weak, and there is no sign of a rebound at the bottom, so continue to wait. It is not recommended to chase after the short-term rise of individual currencies. Those who have positions in their hands should reduce their positions on rallies.

Today is the Mid-Autumn Festival, friends, spend more time with your family and children, and live up to the good time of the holiday!