Long and short kills, where does the market want to go
Review of last issue
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BCH: BCH is still under the pressure of $245. If the volume of BCH breaks through $245, BCH will turn from idling to more. After BCH stepped back to confirm $245 on June 1, it rose to a maximum of $270, an increase of more than 10%.
Highlights of this issue
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current report
As of the release of the report (June 5, 2020), the total market value of global digital currency assets this Friday was US$277.593 billion, a year-on-year increase of US$12.875 billion, or 4.86%. The 24-hour market turnover was US$89.201 billion, a year-on-year decrease of US$25.111 billion or 21.97%. The market value of the whole market fluctuated sharply this week, and the trading volume continued to shrink for three consecutive weeks. Although the market value rose this week compared with last week, it failed to receive enough volume to support it, so there will be a sharp correction.
Data source: standard consensus, CoinMarketCap
The standard consensus market composite index was 1,167.73 points, and the index rose by 4.47% within a week, which was relatively consistent with the increase in the market value of the whole market. In the short term, the market has entered a stage of volatile upward trend. According to the standard consensus sentiment index, the current market sentiment is frenzied. The latest index is 1.76. The trend of the index and the trading volume are opposite. When the index falls, the trading volume increases and when it rises, the trading volume shrinks. Spread to excessive fanaticism, causing the market to drop rapidly. At the same time, according to the ratio of Bitcoin to the total market value, the market value of Bitcoin has not changed significantly; the market value of other currencies has not changed significantly. BTC is still in a dominant position in the market. The trend of BTC is stronger than that of other currencies, and the concentration of funds is relatively high, indicating that the market funds are relatively scarce.
Data source: standard consensus, CoinMarketCap
Data source: standard consensus, CoinMarketCap
Trend review and analysis of BTC, ETH, BCH
According to the standard consensus halving countdown index, the current block height of BTC is 633,119, and there are 1,570 days before the next halving. BTC has been halved, resulting in a certain attenuation, which has a great impact on the profitability of miners. This week, BTC mining revenue per T computing power income was $0.09, which was at a low level in nearly three months.
Trend review and analysis of BTC, ETH, BCH
According to CoinMarketCap data, the average daily turnover rate of BCH in the past 7 days is 76.40%, which is 10.00% lower than the average daily turnover rate in the past three months, and 12.69% higher than the average daily turnover rate last week. The market attention of BCH has begun to recover, and the transaction volume has also changed from a decline for several consecutive weeks to an increase. Funds have begun to rotate among currencies. limit. BCH can go long at $245, and the stop loss point is set at $230.
risk warning:
Be vigilant against illegal financial activities under the banner of blockchain and new technologies. The standard consensus resolutely resists various illegal activities such as illegal fundraising, network pyramid schemes, ICO and various variants, and dissemination of bad information using blockchain.
