When will the consolidation of BTC last for more than a month end?
This morning, the mainstream currency changed again, and ETH relayed EOS, starting a new round of rebound trend. However, BTC, the main force in the market, is still sorting out in the small area. This year, the platform currency, which has suddenly emerged due to the IEO market, has no signs of rebounding in a short time, which meansThe main funds have not acted, and they are still in a wait-and-see situation, so they should not be overly optimistic.
The picture below is a comparison of the daily charts of BTC, ETH, BCH, and EOS. The K-line market trend that started in April is intercepted. It can be seen from the figure that BTC is in a high-level consolidation trend, while BCH’s amplitude is weak, and it is in the middle position To sort out, ETH and EOS are seriously oversold. The several rebounds in the past week have only recovered part of the decline. It will take several rebounds to reach the middle point. From this point, we can also see that,The recent mainstream currency market is a complementary market, not an independent market。
As BTC, which accounts for more than 70% of the market value, the movement of funds behind it is the focus we should pay attention to. From the perspective of the BTC daily line, the trend in the past three months has been along the triangle shrinkage pattern (9,000 US dollars as the bottom and 14,000 US dollars as the top), and the rebound high point is lower every time. Currently in such a state of support at the bottom and pressure at the top, if there is no breakthrough in volume, the consolidation of the market will not end.
It coincides with the halving time node of BTC mining rewards in May next year, and the arrangement form created by the main force at this time is actually a layout.Everyone knows that there is a market for halving, and a strong consensus has been formed, and the sentiment of reluctance to sell is strong. In this case, it is more difficult to collect cheap chips, and it is more difficult for the market to fall.
However, the price of more than 10,000 US dollars is only 1 times higher than the historical high of 20,000 US dollars in 2017. On this basis, the space and range of increase will be very limited. For this increase, the dealer might as well operate at will in the futures market. can achieve similar profits, soOnly when the currency price squats and then pulls up, there is more room for imagination. But once the market price plummets below 9,000 US dollars, many retail investors will frantically enter the market to buy bottoms and compete with the dealer for chips. This is not the result that the dealer wants to see. The current situation is a dilemma for the dealer.
The key to breaking the game still needs the superimposed impact of emergencies. It can be compared to the fork of BCH and BSV in November last year. After BTC experienced more than two months of sideways trading, it used this incident to violently bottom out and destroyed everyone’s psychological defense line of 6,000 US dollars, causing retail investors to sell their meat. Falling more afraid to enter the market to buy bottoms, the main force is to sweep the goods frantically within 2 months, completing a round of chip relay.
Generally speaking, a large-scale adjustment cycle often needs to be deployed several months or even more than half a year in advance. At present, we have reached the mark of strong support of 9,000 US dollars. time is limited. The launch of the Bakkt physical delivery BTC contract on September 23 may become a symbolic event for market makers to manipulate the market again. I hope everyone will pay more attention to its impact.
Back to the short-term market,To judge whether the mainstream currency is in an independent market, it only needs a 5% drop in the big pie to distinguish the true from the false. If the mainstream currency can effectively resist the drop, it will be a real reboundOperation suggestion:
Operation suggestion:
BTC: In the short-term, the trend is organized in the range of 10,000-10,500 US dollars. Although it is running upward along the trend line, the volume energy is gradually shrinking. Theoretically speaking, there is no problem at all if it breaks through 10,500 US dollars. It only needs to increase the volume. A small cooperation can be achieved.The reason why the dealer arranges repeatedly at this position is to control the market.. At the time when the mainstream currencies collectively make up for the rise, if BTC sends out an obvious upward signal again, the market sentiment will be completely ignited, and the market may be more difficult to control at that time, so we just wait and see the changes, and the short-term support range is 9,800-10,000 US dollars.
ETH: short-term rebound, standing above 185 US dollars, short-term hope of hitting 200 US dollars (daily MA60 moving average pressure), if 200 US dollars can effectively break through, the amplitude may reach 240 US dollars. It is necessary to beware of short-term retracement risks. If it does not break through 185 US dollars, the bullish expectations on the market will remain unchanged.
LTC: Continue to sort out the trend in the small range of 68-72 US dollars. Compared with the high point in June, it is seriously oversold. If it can cooperate in large quantities, it is hoped that it will hit the pressure range of 77-85 US dollars.
BCH: The overall trend is relatively stable, finishing in the range of 295-310 US dollars, and the strong pressure above is in the range of 340-360 US dollars.
EOS: Short-term high order trend, if the support of 4 US dollars is not broken, there is still hope of rising, and it is expected to fluctuate in the range of 4-4.5 US dollars.
XRP and TRX: Continue to shrink and adjust the trend, but when the mainstream currencies collectively rebound, there is also a probability of compensatory growth. XRP short-term support is 0.26 US dollars, and the top is strongly pressed at 0.29-0.3 US dollars. TRX short-term support is 0.015 US dollars, and the upper pressure is 0.017 and 0.019. dollars.
Platform currency: The overall trend is synchronized with BTC, and the volume is shrinking. It is difficult to have a big market in the short term, so wait and see.
Altcoins: The overall situation is still not optimistic, but when the mainstream currencies collectively rebound, the funds behind them will also try to move randomly. If you find that the altcoins you hold are skyrocketing, don’t chase the high, it’s better to sell on rallies strategy.
