BTC falls below 9000, bears start handover
1. Today's market overview
1. Today's market overview
The total market value of the market today is 246 billion US dollars, a decrease of 4% compared to yesterday. Trading volume was $109 billion, an increase of 16% compared to yesterday.
In terms of market sentiment, according to Alternative.me statistics, today's market sentiment is extremely panic, with a panic and greed index of 41.
2. Distribution of currency rise and fall
Among the top 100 currencies by market value today, BTC took the lead in diving, and most currencies fell. The mainstream currency BTC and its two sons BCH and BSV led the decline. The biggest drop was the small currency NMR, with a drop of about 11%. The biggest increase is the unknown small currency TFUEL, which has increased by more than 50%. However, this currency is completely controlled internally and it is not recommended to follow up.
3. Trading volume analysis
3. Trading volume analysis
With the cliff-like waterfall from early morning to morning, the trading volume of various currencies increased slightly, but the increase was not large. The most active trading volume is ADA, because ADA is more resistant to falling, and the wave of gains in the day has reached the position before the sharp drop. Although BTC has experienced a sharp drop, the increase in trading volume is not large, indicating that this wave of decline is a bit of a short-selling behavior. The short sellers must guard against the risk of a rebound, but the market sentiment basically turns to the short sellers.
Note: The USDT on-market discount and premium index is converted based on BTC/USD, BTC/USDT, USDT/USD and other trading pairs in multiple exchanges. It is the percentage ratio between USDT and USD, reflecting the trader's preference for USDT degree. The USDT off-exchange premium index is calculated based on the off-exchange price of USDT and the offshore RMB exchange rate. It is the percentage ratio between USDT and USD, reflecting the degree of crowding of funds entering and exiting the token market. When the index is 100, it means USDT parity, when the index is greater than 100, it means USDT premium, and if it is less than 100, it means USDT discount.
Note: The USDT on-market discount and premium index is converted based on BTC/USD, BTC/USDT, USDT/USD and other trading pairs in multiple exchanges. It is the percentage ratio between USDT and USD, reflecting the trader's preference for USDT degree. The USDT off-exchange premium index is calculated based on the off-exchange price of USDT and the offshore RMB exchange rate. It is the percentage ratio between USDT and USD, reflecting the degree of crowding of funds entering and exiting the token market. When the index is 100, it means USDT parity, when the index is greater than 100, it means USDT premium, and if it is less than 100, it means USDT discount.
5. Technical Analysis
Weekly
30 minutes
BTC's break below 9,000 today means that the bulls have lost their dominance. This wave of decline means that the upper track of the convergence of the large-scale triangle has been well suppressed, and the era of continuous rise at the weekly level is over. At the weekly level, the bears will start to slowly lead the market next. The 1-hour level near 8500 is a small support level, and there may be a rebound in the short term. After 8500 falls, it will continue to see 8200.
To sum up, it is recommended that the rebound is not strong and shorting is mainly around 8900, with a stop loss of 9165.
ETH: The short-term operation is recommended to be short-term around 207, and the stop loss price is 213.2.
EOS: It is recommended to do short-term short-term trading around 2.61, with a stop loss price of 2.69.
LTC: The operation is recommended to be short-term around 44.5, and the stop loss price is 45.8.
