The downtrend has started, is it just beginning?

特邀专栏作者

2019-11-07 17:35 (UTC+8)

This article is about 1484 words, reading the full article takes about 3 minutes

AI Summary

1. Industry Interpretation

In recent days, Ethereum has been strengthening all the way. In the past 3 days, ETH has continuously pulled 15 dollars, becoming one of the most eye-catching mainstream currencies in the past few days. As the largest development platform based on blockchain, Ethereum is not optimistic about its dominance by everyone.

Digital currency economist Tuur Demeester, who has been bad-mouthing Ethereum for years, recently took to Twitter. He believes that Ethereum has violated the "cypherpunk" spirit, making the project more and more centralized, and blockchain functions are also affected.

In fact, as early as last year, some people pointed out all the defects of Ethereum, such as the fact that its culture and structural system are contrary to Bitcoin, and believed that the current technology of Ethereum is not mature, and it should not be used in key applications unless absolutely necessary. application.

But for Ethereum, the worst-case scenario is that it becomes less and less decentralized, and its blockchain functionality slowly degrades.

2. Today's market overview

The total market value of the market today is 251.6 billion US dollars, no significant change from yesterday. Trading volume was $78.8 billion, down 15% from yesterday. The total market value has not changed significantly for two consecutive days, and the trading volume has gradually decreased.

In terms of market sentiment, according to Alternative.me statistics, today's market sentiment is normal, with a panic and greed index of 54. The fear and greed index has been stable at 54 for many consecutive days.

3. Distribution of currency rise and fall

Among the top 100 coins by market capitalization today, the prices of most of them have fallen back, with CHZ, BCN, and ABBC falling by about 13% respectively. BSV, the second-tier currency with the largest decline, also fell by 4%. The biggest increase is DX, about 32%, but it is not optimistic. Followed by XTZ, XTZ exploded today, and fell sharply before the manuscript was received, and the 24-hour increase still reached 25%.

4. Trading volume analysis

Among the top 30 currencies by trading volume today, most of them started to drop in volume and price today. XRP took advantage of the meeting to wash up and down, LINK, HT and other prices continued to rise, and most of the rest began to fall.

5. Stablecoin analysis

Note: The USDT on-market discount and premium index is converted based on BTC/USD, BTC/USDT, USDT/USD and other trading pairs in multiple exchanges. It is the percentage ratio between USDT and USD, reflecting the trader's preference for USDT degree. The USDT off-exchange premium index is calculated based on the off-exchange price of USDT and the offshore RMB exchange rate. It is the percentage ratio between USDT and USD, reflecting the degree of crowding of funds entering and exiting the token market. When the index is 100, it means USDT parity, when the index is greater than 100, it means USDT premium, and if it is less than 100, it means USDT discount.

6. Technical Analysis

5 minutes

30 minutes

[BTC] The big pie is at the end of convergence. Although the market is moving, the strength has not kept up, indicating that the trend is not over yet. It was still oscillating in the box for 30 minutes, and there is still room for short-term bulls to struggle. The 5-minute level will still be entangled in the support level, but it is not difficult to break through it from the perspective of the general trend.

To sum up, BTC can be shorted if it rises. It is recommended to do more near 9273 and stop loss at 9315.

ETH: The ETH trend is also dominated by bears, and the downward trend has not yet been completed. The operation recommends short-term shorting around 190, with a stop loss of 192.

EOS: EOS trend is quite weak today. Operational recommendations are mainly short-selling around 3.56, with a stop loss price of 3.61.

LTC: LTC is the weakest among the second-tier coins, and it is recommended to continue to be short after rushing higher. The operation suggests shorting around 63.1, with a stop loss price of 3.6.

LTC

EOS

ETH

BTC

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