OKEx Investment Research｜Market sentiment continued to heat up, Bitcoin rebounded by nearly 17%

特邀专栏作者

2021-03-02 17:01 (UTC+8)

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As of the 24 hours before the press release, the number of major virtual currencies in the market accounted for 67.35%, which was significantly higher than the 32.65% of the number of decliners. The market sentiment continued to heat up, which was benefi

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OKEx BTC/USDT Perpetual Contract: (marketing software AICoin)

News: According to the Financial Associated Press, the cryptocurrency mining company Integrated Ventures Inc announced the purchase of 600 Avalon A1246 mining machines (Avalon 1246) produced by Canaan Technology (CAN.US), with a total value of 2.713 million US dollars. The transaction amount is not large, but it still shows that mainstream capital is optimistic about the prospects of the encrypted asset market. In addition, although Bitcoin has recently undergone a round of substantial adjustments, Grayscale still maintains a high position. The movement of mainstream investors deserves our attention, and it will be of great help in determining the general direction of the market.

Secondary market: Bitcoin has continued to rebound from yesterday to now, with the largest increase of nearly 17% from the lowest point. As of press time, the currency price was trading at the 48,500 line, maintaining a rebound high and oscillating. However, we need to pay attention to one point. As shown in the figure, the currency price has rebounded to around the 4-hour MA60 moving average. The last round of rebound market has stagnated and dropped back significantly after touching the moving average. At the same time, it can be seen from the trading volume indicators that although the currency price has rebounded significantly, the trading volume has not been enlarged. At least it can show that the amount of funds actively following up this round of rising is smaller than that of the February 23 decline. The amount of money sold. The above two phenomena need to attract more attention.

The 4-hour MA60 moving average to 52150 area is a strong resistance area, and the MA60 moving average can also be regarded as the medium-term strength dividing line. If it is too late to stand firmly on the moving average, you must pay attention to avoiding the short-term risk of falling back. On the contrary, if you choose to break through the 4-hour MA60 moving average after the current price hovers, there is a high probability that you will touch the historical high area (58000 area) later.

Support: 48000--46500--45000

OKEx ETH/USDT Perpetual Contract:

The trend of ETH basically follows Bitcoin. At present, it is also showing signs of stagflation after rebounding to the vicinity of the 4-hour MA60 moving average, but the drop rate is not large. In this round of rebound, the trading volume has not shown any obvious signs of enlargement. At the same time, the double line of the 4-hour MACD indicator is still running below the zero axis, and it is currently close to the zero axis. The zero axis is generally used as the dividing line between strength and weakness, and we need to pay attention to whether the upward breakthrough can be achieved in the later stage.

Judging from the performance of the currency price being blocked by the 4-hour MA60 moving average, because the decline is not large and there are signs of stabilization, it shows that the market selling pressure is not large at this stage. In the next short-term trend, we can focus on the first-line support of 1510, which is regarded as the short-term strength and weakness dividing line. As long as the adjustment does not clearly fall below this price, it is regarded as a benign adjustment, and we continue to look at the continuation of the rebound. The upper resistance focuses on the 1710 line, which is the high point of the previous round of rebound. If the rebound continues without a lot of cooperation, there is a high probability that the resistance will not be broken.

Support: 1510--1450--1400

Ouyi OKEx ATOM spot

ATOM also followed the rebound. If the moving average is also used as a reference, ATOM is structurally stronger than Bitcoin, because ATOM has shown signs of breaking the 4-hour MA60 moving average, and the trading volume has also begun to increase moderately. In the later stage, we need to pay attention to this phenomenon. Whether to continue. Once the law of the strong is always strong, it is generally easy to last for a period of time, so ATOM is worth following closely.

From the perspective of the trend structure, the next more important resistance is around 21, which is the nearby rebound high. If this high point is broken, it will break the downward trend of the high point gradually moving downward since the peak on February 16. characteristics, then there is a high probability that it will return to the upward trend of the general trend. Of course, don't just see the opportunity and ignore the risk. If the currency price is obviously blocked near 21, you should pay attention to the risk of short-term decline.

Support: 19.30--18.60--17.50

Resistance: 21.00--22.60--24.50

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