The trading volume on the BTC and ETH chains synchronized to a new high, and the channel fluctuated and rose and the low multi-strategy
With the continuation of small price fluctuations, the market performance of BTC and ETH is not significant, but the transaction volume data on the chain has reached a new high position, which may suggest that a possible price breakthrough trend will appear. Especially considering that Uniswap issued the currency UNI, driving the DeFi market to maintain high popularity, and BTC's strong sideways trading below 11,000 US dollars, all of which prompted the expectation of a stronger market.
The all-time high of ETH’s on-chain transaction volume occurred in early 2018, while the peak of BTC’s on-chain transaction volume occurred on August 21, 2019. This time, the data on the ETH chain hit a new high, and at the same time, the data on the BTC chain reached the highest value in a year, indicating that there may be a short-term breakthrough in the price.
The rebound of the data on the chain has a positive impact on the market’s trading enthusiasm. In particular, the data on the BTC chain has been significantly earlier than the price change in the near future. And the best performance after 3.4 million. At the same time, we noticed that BTC rebounded from the short-term low on September 17, and the price quickly stabilized after the retracement. The market is in a relatively strong stage.
In terms of mainstream currencies, NEO, which has a large price increase in 24 hours, and TRX and VET, which have rebounded more, respectively prompted the breakthrough of strong currencies, the rebound of DeFi concept coins, and the price recovery trend of oversold strong currencies.
BTC market analysis:
BTC market analysis:
Yesterday, BTC fluctuated and fell as a whole, but the high point also touched 11091.9. It began to fall after the FOMC interest rate decision, and finally closed down 1.49% at 10838. However, yesterday's decline in the three-day consecutive rise did not break the overall upward trend of shocks. At present, from the analysis of the daily line, the lower part has rebounded from a flat bottom near 9864, and the overall trend is U-shaped. The upper part is concerned about the pressure of MA40 and MA60 , The MACD red energy column on the indicator is heavy, the fast and slow lines are golden crosses, and the KDJ golden crosses are spreading, so the daily line is strong.
From the analysis of the 4-hour chart, there is a multi-bottom support rebound below, relying on the upward trend line to support the rise, the K line runs between the BOLL middle rail and the upper rail, the indicator MACD green energy column runs smoothly, the fast and slow lines are dead forks, and the KDJ dead forks have Turning head upwards, so below BTC, pay attention to the support of BOLL's middle rail. In the hourly chart, the K line is running on the support of the middle rail of BOLL. The red energy column of the indicator MACD is flat, the fast and slow lines are golden crosses, and the third line of KDJ is turning upwards. Mainly low and more, pay attention to 11000, 11200, 11400 at the top, and 10850 and 10750 at the bottom.
ETH market analysis:
ETH market analysis:
The trend of ETH this week is different from that of BTC. ETH has risen for two consecutive days. It reached 394 in the early morning of this morning. On the whole, it is strong, the red energy column of the indicator MACD is emerging, the fast and slow lines are bonded with a golden cross, and the KDJ three-line golden cross is spreading.
From the analysis of the 4-hour chart, the overall trend is oscillating and rising, and the bottom is relying on the lower track of the channel to support the rebound, showing a W double-bottom rebound around 355, breaking through the pressure of the neckline at 390 early this morning, but failing to stabilize, the indicator MACD The red energy column is flat, fast and slow Line Jincha, KDJ third-line Jincha is overbought, so prevent downward adjustments in the 4-hour chart. Looking at the hourly chart, the ETH price is running in the upward channel as a whole, and the bottom is concerned with the support of 380 and 370 through the lower track. The MACD green energy column on the indicator is heavy, the fast and slow lines are dead fork, and the KDJ is dead fork. The hourly chart is weak. In summary, According to the above, Yitian (aphz8705) believes that the ETH operation idea is mainly to be empty first and then long. The upper part focuses on the previous high of 394, followed by the 400 mark, 415; the lower part focuses on 380 and 370.
ETH operation strategy: Aggressives buy more around 380, stop loss below 375, target 394, break the position and hold, if the market drops to 375, you can add more. Steady ones boldly enter more near 370. The market is changing rapidly, and the real-time operation is subject to the intraday.
Text/Original/Written by Yi Tianshuo (aphz8705)
That’s all for today, see you in the next article~!
If you think my opinion is reasonable, you can make friends, communicate with each other, recommend it to your investment friends and pay attention to it, thank you for your support to Yitianshuo!
