The shock cycle of Bitcoin is lengthened, but there is still the possibility of an upside
The Hong Kong Securities Regulatory Commission officially released the "Status Statement: Supervision of Virtual Asset Trading Platforms" and "Warning on Virtual Asset Futures Contracts", stating that it has the right to supervise securities-type virtual assets or token trading service platforms. The industry brings clearer guidance and clear regulation may bring a trillion-dollar market size.
With regard to blockchain and digital currency, China already has clear development ideas and implementation logic, and has begun centralized implementation. Mu Changchun introduced the specific implementation of China's official digital currency in Hong Kong, and the central bank signed a strategic agreement with Hong Kong financial institutions. At the same time, the Hong Kong Securities Regulatory Commission issued the regulatory rules for virtual asset exchanges. This is definitely not a coincidence. This is China's blockchain digital currency. Another layout in the currency field, that is, the important role Hong Kong plays in this field has become clear. The regulatory rules of the Hong Kong Securities Regulatory Commission are not harsh, but just a common-sense arrangement. In the future, there are three imaginary spaces. Will the existing futures exchanges and stock exchanges in Hong Kong promote futures contracts such as official Bitcoin? Will bitcoin transactions in the Hong Kong market be denominated in the legal digital currency of the People's Bank of China, so that settlement is very convenient. These are all worth looking forward to.
Although all kinds of good news come one after another, the price of Bitcoin has always been calm. Since the bottom of the Bitcoin price broke out on October 25 and was blocked at 10350, the price has been oscillating between 9000-9500 for 10 days. Recently, the bulls seem to have the intention of breaking through upwards, but they have failed to break through the resistance above the range after many trials, which inevitably gives people a sense of suffocation. However, the author, Yu Jixin, believes that under the current market environment, the possibility of the upward development of bitcoin prices is still very large.
In the short term, the price of Bitcoin will continue to fluctuate, and in the market outlook, as long as the price remains in the upper part of the range, there is still the possibility of an upward breakout. On the 4-hour chart, Bitcoin has always been running within the Bollinger Band. Yesterday it hit the resistance of the upper rail position and fell back. It went out of the trend of 3 consecutive negatives. The current price rebounded slightly and was under pressure from the 5-day moving average. Looking at the indicators in the attached figure, MACD runs above the 0 axis, and the trend is relatively flat, while RSI and Stcoh run oscillatingly at the 50 level. The competition between the long and short sides is expected to be difficult to give a result in the short term, and the price shock pattern will still be continued. In terms of intraday operations, it is recommended to keep selling high and buying low within the range. At the top, focus on the suppression of the 9400-9500 position, and at the bottom, focus on the support at the 9270-9160 position.
Ethereum has been rising for three consecutive days. Although it has just touched a high level, it began to fall back and stepped back on yesterday's starting point. However, this move can be regarded as a confirmation of the price's support below, and it will be done for subsequent pull-ups. Prepare; in the four-hour level chart, the market has successfully contained its return near the low level of 188, which is enough to show that the market is still relatively optimistic about the rising market; the currency price is still running in the middle and upper rails of the Bollinger Bands, at 190 ;Among the technical indicators, the MACD fast and slow line is running near the zero axis, presenting a golden cross state; while both RSI and Stoch have turned from downward volume to smooth operation; it can be seen that the trend is gradually improving, and the short-term market is still more bullish than bearish; and the support point The level is at 186 and the resistance point is at 195. In terms of operation, I suggest that you can do more on dips.
