Bulls dying, market remains weak

特邀专栏作者

2019-11-20 19:05 (UTC+8)

This article is about 1515 words, reading the full article takes about 3 minutes

The U.S. Securities and Exchange Commission has previously rejected the application of Bitcoin asset management company Bitwise for a Bitcoin ETF.

AI Summary

Expand

The U.S. Securities and Exchange Commission has previously rejected the application of Bitcoin asset management company Bitwise for a Bitcoin ETF.

1. Industry Interpretation

In the past few days, when the speculation of contracts by the friends is uproarious, the Bitcoin ETF far away across the ocean has not stopped. The U.S. Securities and Exchange Commission has previously rejected the application of Bitcoin asset management company Bitwise for a Bitcoin ETF.

But the recent re-examination of the disapproval by the US Securities Commission means that the Bitcoin ETF is expected to be launched. Then some friends have questions, what is this ETF?

The launch of Bitcoin ETF is also of great significance to Bitcoin itself, and is part of the growth process of Bitcoin. The positive effect on the price of Bitcoin can also be directly reflected.

2. Today's market overview

The total market value of the market today is 224.7 billion US dollars, a decrease of 1.8% compared to yesterday. The trading volume was US$71.9 billion, a decrease of 7.1% compared to yesterday.

At the news level, Bakkt and Fidelity will store bitcoins for Galaxy Digital’s new bitcoin fund; Grayscale submits a bitcoin trust fund registration application to the US SEC; Award; Governor of the Bank of Japan: Japan does not need the central bank to issue digital currency now.

In terms of market sentiment, according to Alternative.me statistics, today's market sentiment is panic, with a panic and greed index of 32.

3. Distribution of currency rise and fall

Among the top 100 currencies by market capitalization today, the prices of most currencies continued to decline. The biggest drop today is AOA. The price of AOA has been like a roller coaster recently. Pulling and smashing is commonplace. Followed by VET, which fell by 7%. VET has been pulling the market for several months, and today it has a pullback. The largest increase is CRPT and SEELE, an increase of nearly 20%.

4. Trading volume analysis

The overall trading volume today has decreased compared to yesterday, and the specific currencies have also risen and fallen. The trading volume of mainstream currencies is almost all declining. However, prices are rebounding within the day, and this kind of rebound without volume is very fragile. In addition to mainstream currencies, the trading volume of stablecoins is also declining, which means that the entire market is suffering.

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.

5. Technical Analysis

5 minutes

30 minutes

[BTC] BTC fell all the way to the 8000 mark yesterday and was pulled up again, but was forced below 8160. Due to the cold market and the sharp drop in trading volume, it is difficult for this wave of rebound to reach the intraday pressure level of 8160. In 30 minutes, although there was a rebound in the morning, the overall downward trend is still obvious. The upward trend at the 5-minute level turns to a downward trend, and it is difficult to draw back.

To sum up, BTC can be shorted if it does not break through 8160. The operation suggests shorting around 8140, stop loss at 8211

ETH: ETH has been rising all the way due to the influence of the news, but yesterday's wave of decline has damaged the large structure. The operation recommends shorting around 176.1, with a stop loss price of 180.2.

EOS: The trend of EOS within the day is relatively demonic, but you can still refer to the strategy of the big pie. The operation suggests shorting around 3.13, with a stop loss price of 3.18.

LTC: LTC fluctuated greatly during the day, but the trading volume continued to decrease. The operation suggests shorting around 55.72, with a stop loss price of 56.58.

LTC

EOS

ETH

BTC

Welcome to Join Odaily Official Community