Rebound relay, the market is waiting for further direction selection

标准共识

特邀专栏作者

2020-03-06 19:18 (UTC+8)

This article is about 1546 words, reading the full article takes about 3 minutes

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Review of last issue

BTC: The rapid decline has made investors panic. The price resistance is at $9,000. If BTC can break through $9,000, it will open up room for rebound. It dropped as low as $8,500 before bouncing back to $9,100.

BCH: The support range of BCH is located at the $300 line, if it falls below it in a large amount, it will trigger a sharp sell-off in panic. The $300 first-line support has yet to be broken.

Highlights of this issue

Summary: According to the standard consensus sentiment index, the current market sentiment is good, the latest index is 1.35, the market has entered a rebound stage, but the volume is slightly insufficient, the market is in a weak rebound state, and the global economic downturn is expected to suppress the digital currency to a certain extent The rise of the market.

BTC: With resistance at $9,200 and short-term support at $9,000 for BTC, price is expected to range-bound pending clarity.

BCH: The support range of BCH is at the $300 line. Although it has been tested, it has once again proved the strength of the support and may lead the rise in the short term.

current report

As of the release of the report (March 6, 2020), the total market value of global digital currency assets this Friday was US$261.504 billion, a year-on-year increase of US$10.926 billion, or 4.36%. The 24-hour market turnover was US$141.266 billion, a year-on-year decrease of US$12.122 billion or 7.90%. The market value began to rebound to a certain extent, but the transaction volume began to retreat, the market’s bullish momentum was slightly insufficient, and the market was in a weak rebound state. The epidemic caused the global economic downturn to be expected to intensify, which suppressed the rise of the digital currency market to a certain extent.

Data source: standard consensus, CoinMarketCap

According to the standard consensus sentiment index, the current market sentiment is good, the latest index is 1.35, the market has entered a rebound stage, but the volume is slightly insufficient, the market is in a weak rebound state, and the global economic downturn is expected to suppress the digital currency market to a certain extent rise. At the same time, according to the ratio of Bitcoin to the total market value, the market value of Bitcoin has not changed significantly, down 0.34% year-on-year, and the market value of Bitcoin has fallen below 65%; the market value of other currencies has not changed significantly, up 0.3% year-on-year . BTC is still in a dominant position in the market, and the rebound proportion of other digital currencies in the market is higher than that of BTC.

Data source: standard consensus, CoinMarketCap

According to the standard consensus halving countdown index, the current block height of BTC is 620,431, and there are only 64 days left before the next halving. It will take some time for BTC to realize the positive expectation of halving, but investors need to pay attention to the time of BTC halving. The next halving is approaching, and the price of BTC has entered a correction stage, and the benefits of halving have not yet been fully realized.

Trend review and analysis of BTC, ETH, BCH

According to CoinMarketCap data, the average daily turnover rate of BTC in the past 7 days is 14.60%, which is 5.15% higher than the average daily turnover rate in the past three months, and 0.62% lower than the average daily turnover rate last week. This week, the price of BTC showed a fluctuating upward trend, although the trading volume has expanded to a certain extent, and there was a single price pending buy order exceeding 10,000 BTC in the intraday session. The rebound demand is gradually met, but in terms of the current trading volume, it is difficult to continue to push the price to continue to rise, and more funds need to be attracted to enter the market. With resistance at $9,200 and short-term support at $9,000 for BTC, price is expected to be range-bound pending clarity.

According to CoinMarketCap data, the average daily turnover rate of ETH in the past 7 days is 77.31%, which is 12.65% higher than the average daily turnover rate in the past three months, and 2.89% lower than the average daily turnover rate last week. ETH fluctuated sideways within the range, and the trading volume fluctuated more obviously, but the bottom of ETH gradually rose, and the lower support point gradually moved up, and the bullish sentiment increased. The ETH price resistance level is still at the $250 line, and the bottom low is gradually moving up, and the resistance level will be tested again in the near future.