​Ouyi OKEx Investment Research｜Yellen urgently clarified after speaking out, and the currency market returned to the right track after the shock

OKEx BTC/USDT Perpetual Contract:

OKEx BTC/USDT Perpetual Contract:

News: The former US Federal Reserve Chairman and current US Treasury Secretary raised interest rates in a speech on Tuesday, and the capital market reacted quickly. The three major US stock indexes fell sharply that day, and the biggest drop of Bitcoin exceeded 8%. However, Yellen later clarified her previous remarks, saying that she did not hint at raising interest rates, nor did she believe that inflation in the United States is now uncontrollable, while respecting the independence of the Federal Reserve. Judging from the reaction of the capital market, it is obvious that the market is most worried about whether the monetary policy of the United States will be tightened. Therefore, the most important targets to track in the future are the policy trends of the Federal Reserve and the US Treasury Department. According to the mainstream views of major institutions, the Federal Reserve is unlikely to raise interest rates before 2023, but it is possible to start reducing the scale of bond purchases in the fourth quarter of this year. Once it starts to reduce bond purchases, it will be an important time for the capital market to turn.

Secondary market: After yesterday's sharp rebound, Bitcoin showed obvious stagflation around 57,500. Looking back at the recent trend, there were three highs near this price. From the perspective of the trend structure, the recent currency price has fluctuated around the range of 52800-57500 for most of the time.

In the short term, it is necessary to pay attention to the first-line resistance of 57500, and do not rush to chase up and intervene until the price has not clearly stabilized. If there is another phenomenon of breaking through 57500 and then falling back (that is, a false breakthrough), there is a high probability that the adjustment mode will start again in the short term. Before clearly going out of the trend, focus on the reverse operation opportunity of 52800 support and 57500 resistance.

Support: 56400--55100--52800

OKEx ETH/USDT Perpetual Contract:

OKEx ETH/USDT Perpetual Contract:

ETH continues to maintain a strong pattern of operation, greatly surpassing the strength of Bitcoin, and constantly refreshing history. Judging from the current trend structure, the 1-hour level trend also maintains the characteristics of rising lows. In the small cycle (15-minute chart), there is a phenomenon of top divergence between volume price and MACD. At the same time, the high point in early trading today and the high point the day before yesterday formed a false breakthrough pattern.

It is expected that the currency price will undergo a short-term adjustment due to the phenomenon of top divergence in a small cycle. Below, we need to focus on the first-line support of 3161. This price can be regarded as the short-term long-short dividing line. As long as the callback does not break this price, it can be treated as a benign adjustment. If it falls below this price obviously, the adjustment space will be significantly enlarged.

Support: 3300--3161--2960

secondary title

Ouyi OKEx DOT spot

As shown in the figure, the mid-term key support level of DOT is at the 27 line. It can be said that as long as it does not fall below, the medium and long-term trend is promising. no problem. As for the short-to-medium-term trend, it has been fluctuating for more than two months. It has "lost its direction" since it peaked and fell back on February 21. Although there were two breakouts in the later period, they soon failed. Don't blindly chase the rise before the high point on February 21, and the main way to do it is to pull back and buy low. Judging from the current trend, the currency price shows signs of stagflation at the lower edge of the former high-intensity trading area, and the MACD indicator also shows a top divergence, and there is still a need for adjustment in the short term. It is expected to fluctuate in the range of 34.6-40.6 in the next few days, and the signs of stopping the decline near the lower edge of the range are worthy of special attention.

Support: 37.50--36.10--34.60

Resistance: 40.60--43.00--46.00