At the end of the BTC triangle consolidation, the time to buy bottoms is coming

With the official launch of Bakkt yesterday, market news fell into silence again in September.Even the heavy positive news cannot stimulate a sharp rise in Bitcoin, but the K-line trend continues to decline, reflecting the current market decline.

The trend of Bitcoin’s high level consolidation lasted for more than 3 months. The market sentiment was sluggish. Everyone started guessing the bottom mode, guessing where the bottom of Bitcoin is. Some people saw $9,000, some thought it would stop falling at $8,000, and some even I saw three or four thousand dollars.

Although the decline in the bear market does not say the bottom, there are still many people who wait for the big drop to buy the bottom, and are in such a state of continuing to wait and see. But compared to the beliefs in the small circle before,BTC consensus is now incredibly strong,Specifically in:

1、In the halving cycle in May 2020, bullish expectations are the consensus of most people, the total number of BTC is only 21 million. The halving cycle means that mining rewards will be reduced, and the deflation model will support the currency price.

2. The historical currency price trend of Bitcoin in the past 10 years has verified that its bottom is getting higher and higher, and the price will reach a new level after the bull-bear alternation, allowing the market to regain confidence.

3. Increased attention to BTC: After so many years of promotion, although BTC has not become a household name, its audience has already exceeded 100 million, and its attention and influence are increasing day by day.

4. Expansion of the transaction scale of BTC and its derivatives: the spot market and the contract market are gradually compliant, and the market transaction volume and capital amount are increasing exponentially, becomingAn investment market that cannot be ignored in emerging financial markets.

5、The increase of BTC landing applications: The number of companies conducting business by means of BTC payment has increased, and more merchants and enterprises accept BTC payment, and BTC has also been applied in many real-life scenarios.

6. The support of the miner group: With the improvement of Bitcoin mining computing power, miners, mining pools, and mining machine manufacturers have gradually formed a complete upstream and downstream industrial chain.

7、The entry of institutional investors: With the supervision of countries around the world, financing and exchanges in digital currency related fields have gradually become compliant, attracting institutional investors to enter the market and increase the amount of investment.

To sum up, BTC is no longer the same as before 2017.The currency price has good value support and consensus at this stage, It is almost impossible to want to plummet again like the end of last year.

In the future digital currency market, there are several certain points,BTC will be halved in May next year, BCH and BSV will be halved in April next year, and ETH will be launched at 2.0 early next year. The benefits of mainstream currencies can cause fluctuations in the entire market, almost 4-7 months from now, it is time to start the layout. At the same time, the triangle finishing pattern at the daily level of BTC is coming to an end, which also heralds the coming of a new stage of the market, and alsoIt's time to buy the bottom。

At this stage and in the next few months, it can only be said that it is not appropriate to maintain a short position, and it is necessary to hold some BTC positionsIn order to feel at ease, even if the market has a probability to continue to fall in the future, and the buying position may be covered, the halving market next year is still worth looking forward to.

As for the specific point, as long as you think it is the bottom, you can start to build a position.Build warehouses in small batches, Don't go in with a full position all at once, and don't wait until a certain bottom comes before studging in, because this kind of operation is very risky, and you are facing the risk of missing the opportunity to buy the bottom.

A more conservative strategy is toThe amount of funds is divided into three parts, 7:2:1, 70% is used to invest in BTC and mainstream currencies (ETH, BCH, etc.), 20% is used to invest in potential second- and third-tier market value currencies, and 10% of the funds is used to capture altcoins short-term opportunityOperation suggestion:

Operation suggestion:

BTC: The negative decline in the past few days has still failed to break through the shrinking consolidation trend at the daily level. 9,500 US dollars is regarded as the lower edge of the triangle consolidation pattern. The US dollar is the important point. Above this point, the broader market is still in a mid-term adjustment trend.

At the 4-hour level, the downward trend is obvious, and it is currently oscillating around $9,700, butThe release of short-term volume is not large, which means that the long and short sides are still in a fierce competition. Although the bears have the upper hand, there is no result. The market failed to stop the decline effectively and may continue to fall. It is recommended to pay attention to the support strength at the bottom of 9300-9400 US dollars, and you can buy a small amount of bottoms to grab a rebound; if there is a short-term rebound, you need to pay attention to the breakthrough of 9900-10000 US dollars. If you fail to break through this range, the decline will continue.

ETH: The 4-hour level rushed up and fell back, and fell below the support of 200 US dollars for a short time. In the case of BTC not stopping the decline, be wary of the risk of continued decline, and the short-term weak support is 190 US dollars.

LTC: short-term waterfall, leading the decline of mainstream currencies, supported in the range of 60-62 US dollars, rebound pressure of 70 US dollars, mainly wait and see.

BCH: The daily level has 6 consecutive negatives, and the trend is weak. The support of 300 US dollars has not been held, and a heavy-volume decline has started. The lower support is at 270 US dollars. Pay attention to short-term risks.

EOS: Following the decline of the broader market, the support of 3.8 US dollars has changed to a pressure level, and the support of 3.6 US dollars will be tested for a short time. After the release of good news, the overall trend is weak, and the wait and see is the main focus.

XRP: It rose for a short time last night, but it was difficult to reverse the trend of the broader market. The daily line level was negative and fell. Most of this round of rebound has fallen. The market continues to remain weak. It is not recommended to enter the market.

TRX: The rebound in this round is no longer rising, and the trend is weak, so it is not considered to enter the market in the short term.

ETC: The trend of negative decline at the daily line level, pay attention to the support of 5-5.4 US dollars at the bottom.

Platform currency: Following the market downtrend, it is difficult to have an independent market in the short to medium term. It is recommended to reduce positions on rallies. The platform currency has risen too much this year, and the current currency price is still at a high level. In the short term, we need to pay attention to the risk of breaking the position. The short-term support of BNB is 18 US dollars, HT supports 3.6 US dollars, OKB is 2.3 US dollars, and GT is 0.65 US dollars.

Altcoins: The overall trend is weak, and it is not recommended to enter the market. XTZ is considered to be a relatively popular currency this year. It was launched on the Binance platform today. After the news was released yesterday, the increase was less than 10%. The short-term currency price fell back, which proved once againThe halo effect of listing on the exchange is no longer there, investors on the market are less willing to trade, and the liquidity of altcoins is biased, so it is difficult to have a market in the short to medium term。