Ouyi OKEx Investment Research | Bitcoin broke the 60-day moving average again, and fell into a short-term shock pattern

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2021-04-20 18:30 (UTC+8)

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Fox Business News quoted people familiar with the matter as reporting that the Biden team is in the early stages of researching a regulatory plan for the encryption market.

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Fox Business News quoted people familiar with the matter as reporting that the Biden team is in the early stages of researching a regulatory plan for the encryption market.

OKEx BTC/USDT Perpetual Contract:

News: Chain News, Fox Business News quoted people familiar with the matter as reporting that the Biden team is in the early stages of studying the encryption market regulatory plan, and the US Securities and Exchange Commission (SEC) Chairman Gary Gensler is waiting for the US Treasury Department to issue instructions on cryptocurrency regulations. The supervision of encrypted assets has always been the most concerned topic, and it is true that more and more comprehensive regulatory measures are needed to supervise an increasingly large capital market. Usually this kind of supervision will add a lot of rules and regulations to the transaction, which will lead to the withdrawal of assets for the purpose of hedging, but in the long run, it will definitely greatly benefit the long-term development of the industry. For the moment, unless a substantive plan has been introduced, it is difficult to have a clear impact on the market.

Secondary market: Bitcoin’s rebound yesterday did not show any increase in trading volume, and then stagflation fell at the 57600 line, and once again fell below the 60-day moving average. At present, the currency price is oscillating around the 60-day moving average, as shown in the figure, oscillating It mainly runs around the 53200-57600 interval.

Judging from the current trend structure, the decline pattern since the 65,000 high point has not been reversed, but the strength of the decline and the panic have been significantly reduced. In the follow-up, we need to focus on the consolidation range of 53200-57600. It is expected that it may continue to fluctuate in this range for most of the next two days. If the high point gradually moves downward during the shock process, then it is still very likely to test the 50600 low point again in the follow-up, or even make a new low, and a risk control plan should be prepared.

Support: 53200--50600--49400

OKEx ETH/USDT Perpetual Contract:

The trend of ETH is basically synchronized with that of Bitcoin, and the current price mainly fluctuates around the range of 2038-2290. On the kinetic energy indicator MACD, signs of small-period bottom divergence appeared, and the trading volume also showed similar performance. If the 60-day moving average is used as a reference, ETH is still performing better than Bitcoin. After all, ETH has not fallen below the 60-day moving average.

It is expected that the currency price will first fluctuate around the range of 2038-2290. If the high point of the shock gradually moves down, it means that the confidence of the bulls has not been significantly restored, and it is very likely to test the support near 1880 in the later period. The 1880 support level is close to the 60-day line. In addition, if the absolute drop of the currency price near this price is relatively large, it is easy to cause the currency price to stop falling and rebound.

Support: 2038--1950--1880

Ouyi OKEx YFI spot (the official account of the marketing department does not publish the content of this currency)

Yesterday, Bitcoin did not see a big correction, but apart from Bitcoin, both the mainstream and the non-mainstream have experienced a considerable decline, and YFI is no exception, but this is still relatively strong from the perspective of the overall structure. It remained in the historical high area, and there was no obvious form breakout. At present, YFI has rebounded due to the bottom divergence in the 15-minute trend, and has broken the feature of the high and low points moving downward, which is a good sign. If Bitcoin fluctuates as expected above, it is expected that YFI will have a relatively large rebound. You can pay attention to the 44000-54000 area. The stop signal near the lower edge is worth paying attention to.

Support: 44000--42500--40500

Resistance: 47700--49300--52100

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