After the drop, it began to stabilize, and BTC met a key support level
1. Industry Interpretation
1. Industry Interpretation
After BTC soared to 9,000 on Double 11, it was not a bull market but a cliff-like decline. BTC fell all the way to a minimum of around 8,700, and there was no sign of strength.
BTC has not been able to maintain the wave of gains in the early hours of yesterday, which means the potential weakness of the bulls. From a technical point of view, the upward attack of BTC touched the upper track of the long-term descending triangle, but it did not break through, and was smashed back by a wave.
But if BTC continues to stabilize and sit firmly at the 8700 support level, and the bulls get enough power, BTC will easily return to the 9000 mark again.
2. Today's market overview
2. Today's market overview
In terms of market sentiment, according to Alternative.me statistics, today's market sentiment is panic, with a panic and greed index of 39.
In terms of market sentiment, according to Alternative.me statistics, today's market sentiment is panic, with a panic and greed index of 39.
3. Distribution of currency rise and fall
Among the top 100 currencies by market capitalization today, due to yesterday's decline, most of them followed the broader market, but today most of them only fell slightly. The biggest drop was DX, which had a callback after a sharp pullback yesterday. AOA and VET saw the largest increase today, with an increase of about 18% and 14%.
4. Trading volume analysis
Among the top 30 currencies by trading volume today, the overall trading volume has retreated somewhat. LINK didn’t respond much to the big bear market yesterday, but it strengthened today, and its volume and price both rose. As the price of most other currencies began to stabilize, the trading volume also began to weaken.
5. Stablecoin analysis
The total supply of the stablecoin market is about 5.15 billion US dollars, no significant change from yesterday. Among them, USDT increased the most, with an increase of about 2.5 million US dollars. The USDT OTC Index (USDT OTC Index) reported 99.73 points, down 0.24% in 24 hours. The USDT FTP Index reported 99.83 points, down 0.14% in 24 hours.
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.
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.
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【BTC】BTC started to stabilize today after yesterday's decline. From a security point of view, shorting is better than long, because although the bulls have just stabilized, the bears still dominate the market, and the bulls will not have the strength to counterattack for a while. Looking at the 30-minute level, the trend continues to rise after falling, and it is expected to consolidate for a period of time. Looking at the 5-minute level, the bulls have already touched the pressure level, and it is expected that there will not be much room for upside, and they can short rallies.
To sum up, BTC is dominated by high altitude. The operation suggests that the short-term rebound is not strong, and the short-selling is mainly around 8800, with a stop loss of 80 knives.
ETH: ETH is slightly stronger than BTC today. The operation suggests short-term short-term short-term trading around 188.5, with a stop loss price of 190.
EOS: EOS broke the pressure level in the short term, and the trend is strong. Operational recommendations are mainly shorting around 3.52, with a stop loss price of 3.58.
LTC: LTC's trend is weak today, and it can continue to go high. Operational recommendations are mainly short-selling around 62.56, with a stop loss price of 64.
