The market enters a consolidation range, patiently waiting for new signals

On October 28, at the first Bund Financial Summit, Huang Qifan, vice chairman of the China International Economic Exchange Center, delivered a keynote speech on "Digital Reshaping the Global Financial Ecosystem". In the speech, he mentioned,After 5 or 6 years of research on the digital currency of the People's Bank of China, the technology has matured and it is possible to become the first central bank to launch digital currency in the world。

Regarding the central bank's digital currency (DCEP), it has been mentioned many times this year, and it usesTwo-tier operation system, the upper layer is the People's Bank of China, and the second layer is commercial institutions. The central bank does not directly issue digital currency to the public, but first redeems the digital currency to various commercial banks or other legal operating structures, and then these institutions exchange it to the public for their use.

Just last weekend, blockchain technology was regarded as a strategic development direction and a breakthrough. Under the favorable policy, the launch of DCEP is also a matter of course. simply put,DCEP can be understood as a digital currency issued by the country. It is aimed at traditional M0 cash, which greatly reduces the dependence on accounts in the transaction process, which is conducive to the circulation of RMB, cross-border payment, and trade settlement processes, and generally helps the RMB The process of internationalization has gradually weakened the world monetary and economic system dominated by the hegemony of the US dollar.

At the same time, DCEP uses blockchain technology, which breaks away from the shackles of paper carriers and can realizeThe real-time collection of data such as currency creation, accounting, and flow will not only provide reference for the formulation and implementation of monetary policies by the upper echelons, but will also benefit economic development, optimize resource allocation for the upstream and downstream of the industrial chain, improve operational efficiency, and allow money to flow into industries that really need it , better macro-control。

For ordinary users, the DCEP experience will be similar to mobile payment, one of the payment methods in daily life such as food, clothing, housing and transportation, but more convenient,Payment can be realized without networking, without account, and without setting restrictions, and privacy and security have also been improved。

Returning to the capital market, blockchain concept stocks continue to have a strong daily limit, and more listed companies have released blockchain-related news. The capital market is also stepping up the deployment of blockchain. Canaan Zhizhi submitted an IPO to the US SEC. butThe mainstream media is critical of the hype in the digital currency market and calls for more efforts to crack down on blockchain projects suspected of pyramid schemes and fraud。

Affected by this, the prices of domestic public chain coins have risen and fallen one after another, and Bitcoin has maintained a trend of consolidation at a high level.Market funds tend to be cautious and wait-and-see. The current situation, on the one hand, isAfter the surge in the early stage, it is necessary to organize in the range position, digest and absorb the chips and fully change hands, on the other hand is waiting for a new signal,The policy-based unexpected good news has ended the wave of rising and chasing up, and the project party needs to take action on its ownOperation suggestion:

Operation suggestion:

BTC: maintains a volatile trend in the short term, finishing in the range of 9200-9500 US dollars, and the hourly line level fluctuates slightly around the MA60 moving average, while the volume can gradually shrink. Under the consolidation market, retail investors are basically playing games, unable to gather effective forces, we mainly wait and see, pay attention to the breakthrough of support and pressure ranges, the range of 8800-9000 US dollars is the bottom support in the short to medium term, and the market is bearish after falling below , the upper pressure level is 9,800-10,000 US dollars. After another successful breakthrough, a W-bottom pattern will be built, which means that the main force will start a new market.

ETH: The range of 180-190 US dollars consolidates the trend. In the case of insufficient energy, it is difficult to break through the recent pressure of 200 US dollars. In the short to medium term, continue to pay attention to the daily MA60 moving average support (180 US dollars), and if the support is not broken, the main currency holding will continue.

LTC: The daily level is still suppressed by the MA60 moving average. Before it can effectively break through $60, wait and see.

BCH: Affected by Wu Jihan's heavy control of Bitmain's internal control, the price of the currency rose for a short time, and stood firm at 270 US dollars, and the upper pressure was 300 US dollars. With Canaan, one of the three major mining machine manufacturers, officially submitting an IPO application to the US SEC, the news of Bitmain’s listing is not far away. In the short term, you can increase your BCH position and wait for the release of good news.

EOS: The daily MA60 moving average (US$3.27) is short-term support. If it does not break the support, the market will continue to maintain stability, and the upper pressure will be in the range of US$3.8-4.

XRP: The daily line level continues to run along the upward trend line. If the recent pressure level of 0.3 US dollars can be broken, it is hoped to touch 0.32-0.35 US dollars.

ETC: The hourly level rose slightly, but then fell, failing to break through the pressure of the daily MA60 moving average ($5.3). Before breaking through, wait and see carefully.

Platform currency: maintain a volatile trend overall, BNB 4-hour level, continuation of the upward trend, short-term support of 20 US dollars, the upper pressure level is 23-25 ​​US dollars; HT maintains fluctuations at 3.8 US dollars, the upper pressure level is 4-4.3 US dollars range; OKB is about to impact 3 US dollars integer mark, but the finishing volume can be weak, do not break the support of 2.8 US dollars, continue to hold the main currency; GT short-term high and fall, short-term test of the support of 0.6 US dollars (MA60 daily moving average).

Altcoins: The market differentiation is still continuing. After the first round of rising domestic public chain currencies, they are currently falling into a trend of rising and falling.After the impact of policy news has come to an end, the currency price is facing a new choice, and now it is urgent for the project side to stand up and speak out, to promote the second round of rise, otherwise the market will fall sideways, and the "domestic public chain concept market" that has finally improved may face the risk of dying. If the short-term does not fall below the hourly-level MA60 moving average support, there is still a chance for the market to rise. Once the heavy volume falls below 24 hours and cannot be recovered, the market may cause panic and cause a waterfall. This requires everyone to be cautious.