Can Bitcoin, which is weak sideways, catch the ride of DeFi?
The recent market has been fluctuating sideways for more than 2 months. This period of time is really exhausting, and the most frightening thing is that the active addresses of BTC and ETH continued to decline yesterday. There is a positive correlation between active trading and currency prices. Moreover, the continuous sideways market has no profit-making effect, which will cause a large outflow of market heat and funds. On the contrary, the A-share market next door is hot, and friends who can stay in the currency circle now should be full of faith.
If you want to ask me why I am hopeful about Bitcoin, because the only thing that excites me recently is the strong rise of DeFi. Because DeFi, as a decentralized finance, has more practical applications. But the biggest help to friends in the currency circle is currency lending. Before the bull market arrives, the market must be short of funds, so DeFi solves this problem very well. Let me give you an example. The current price continues to fall and enters a bear market. The author Ding Junxian wants to buy the bottom, but he lacks funds. I will use DeFi pledged loans to obtain the principal to buy the bottom. In this kind of up and down market, I am firmly bullish, but Junxian has already operated with a full position, and I can still use DeFi to pledge the coins in my hand to obtain funds and continue to increase my position. Moreover, compared with traditional lending platforms, digital currency fully demonstrates its advantages. Completely open and transparent transactions allow you not to worry about falsification in the middle process, and DeFi pledge allows me to obtain funds faster, which greatly shortens the cumbersome process in the middle. process. In fact, DeFi has many landing functions, I just briefly talked about the advantages for currency lovers.
Of course, DeFi can’t be overhyped at the moment, and whether it can really promote the arrival of the bull market is debatable, but I believe that in addition to attracting a large amount of funds, DeFi can be better used in landing. This is a benign development for digital currency. What do you think?
7.18BTC technical analysis:
Yesterday's white market trend was basically unremarkable, basically oscillating around 9120. Knowing that the bulls suddenly exerted their strength in the evening, the highest rose to the 9180 line, and then quickly fell back after the high was blocked, and it has been trading sideways around 9150. At present, the currency price has stabilized at the middle track of the Bollinger Bands, and the KDJ and RSI indicators have a downward divergence trend. The big pie has been accumulating sideways for so long. There is a saying in the investment market that a long time will fall. Once this kind of volatile market breaks, the unilateral strength is still very strong. In today's space, the author Ding Junxian believes that today's market is still oscillating back and forth between 9050-9200. If it falls directly below the 9000 position, then the downward trend of the market will be stronger. On the contrary, break through 9300 upwards, then we can see the 9600 line. So everyone needs to be more patient now, wait for the market to come out, and operate with the trend. For short-term operations today, you can enter an empty order at 9160-9200, stop loss at 9300, and look at the 9000 position.
ETH: The recent short-term trend of Ethereum is already obvious, that is, the market is falling. Friends who follow me will know that I have placed a mid-line short position at 244 on Monday. At present, the 30-day moving average of ether has directly penetrated, so we need to pay attention to the very important point of 230 next, thinking that the decline of the day before yesterday was also supported at this position. If this point is broken, then we can see the position of 223. I'm still bullish on too big a trend, and since developers said this morning that most of the work on ETH2.0 has been done, I believe the bull market is not far away. You can buy bottoms at the 218 position. For short-term operations, enter an empty order around 235, stop loss at 238, and look at 228.
LINK: There has been a lot of noise recently, and it can be regarded as the dark horse currency in the second half of this year. I also emphasized in yesterday’s analysis not to chase the rise. As expected, a negative line fell directly yesterday. It can be held for a long time. I suggest to start entering the market when the callback is around $7. The project party is reliable, and coupled with the ride of DeFi, the probability of taking off in the later stage is very high.
LTC: Latiao always gives you unexpected results. You thought it was going to fall, but it rebounded. You thought the bull market was coming, but the reality often gave you a slap in the face. When the highest rebound reached 45 US dollars, the waterfall fell directly. In the short term, the market will continue to test the position of the lower track of the Bollinger Band. Pay attention to the pressure position of 43.9 above and the support position of 40 below. Jun Xian believes that at the position of 40, he can directly enter the market and hold it.
