$32,800 will serve as an important support point, analysis of the cryptocurrency market on January 30 |

特邀专栏作者

2021-01-30 15:08

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If the market cannot be effectively supported at $32,800, Bitcoin will further drop to around $31,200!

India's parliament will consider a government bill in its upcoming budget session that would ban private cryptocurrencies. The bill, titled Cryptocurrency and Official Digital Currency Regulations 2021, aims to ban all cryptocurrencies and provide a framework for the creation of an official digital currency issued by the Reserve Bank of India (RBI). While the bill is anti-private cryptocurrencies, certain exceptions will be allowed to promote the underlying technology of cryptocurrencies and their use cases, the bill said. It is reported that India's budget meeting is held from January to March. If the bill is approved, India will become the only major Asian economy to ban private cryptocurrencies rather than regulate them.

Grayscale officially tweeted that starting from 5:00 on January 30th, Beijing time, the Grayscale Ethereum Trust Fund (ETHE) resumed its private placement subscription. The Trust offers private placements from time to time throughout the year and is now available for daily subscriptions by accredited investors.

Undoubtedly, this is good news for ETH. After Grayscale removed ETH from its cryptocurrency portfolio, although ETH broke through the previous high, it had no follow-up power, which made it difficult for ETH to get out of the independent market, and Grayscale recovered its original value. After the transaction, ETH must have enough strength to go out of the independent market in the next market. After all, compared with BTC, ETH is still relatively small in volume, and it is relatively easy to pull the market.

Market Index Analysis Today

Mainstream currency market

BTC

Risk Factor: Moderate

Although the market has ushered in a callback, it is different from the previous analysis. The market is not a healthy and normal callback, but more like a flash crash. After the article was published yesterday, the market briefly hit $38,000, but it failed to break through in the end. Watch the market today Since then, Bitcoin has fallen all the way from $38,500 to around $33,200. During the decline, Bitcoin sought support at $34,200 and $33,200. It did not get an effective rebound at $34,200. Although $33,200 ushered in a small rebound to Around $34,200, but the current market will continue to drop, and the current price is around $33,700.

In terms of operational suggestions, at the 1-hour level, Bitcoin may continue to drop to around $32,800 to find support. If it cannot get effective support at $32,800, the market will further fall to $31,800. At the 4-hour level, Bitcoin is still in the upper channel of the Bollinger Bands. We are still unable to judge that the market has completely gone bad. If it can successfully break through $34,800, Bitcoin will continue this round of daily rebound.

Upper pressure level: $345,000

First stop loss: $32,800 Second stop loss: $32,000

ETH

Risk Factor: Moderate

The market generally fell, and ETH’s rebound in the down market was more impressive. After Grayscale announced that it would re-list ETH in its cryptocurrency portfolio, the problem of too much pressure on ETH may be resolved, $1,300 It will be a relatively strong support point for ETH in the near future. Whether it maintains or breaks through, the next market of ETH will depend on this.

Upper pressure level: $1430

Layer2 track

LRC

Current Price: $0.483 Risk Factor: Moderate

In yesterday’s market analysis, we believe that $0.41 to $0.42 will be a good entry opportunity for LRC in the short term, and this is also proved in today’s market trend. In the case of a general decline in the market, LRC is around $0.42 It showed a relatively strong rebound. The current price is 0.485 US dollars, and the cumulative rebound rate is 15%.

In the following market, 0.47 will serve as an important support point. If it can successfully stand at 0.37 US dollars, LRC will have the opportunity to continue to hit the high point.

Upper pressure level: $0.5 First stop loss level: $0.47

OMG

Current Price: $3.4 Risk Factor: Medium

During the many declines today, OMG has successfully stood above $3.3. We are more sure that the main force of OMG does not want to give up this round of market. Next, we will focus on whether OMG can successfully break through $3.55.

Polkadot series

DOT

Current Price: $16.25 Risk Factor: High

Upper pressure level: $17 First stop loss level: $15

KSM

Current Price: $97.3 Risk Factor: Moderate

In today's narrow range market, KSM has conducted a round of stress testing around $114. In the next market trend, if KSM can successfully stay above $100, it will have a chance to hit $114.

Upper resistance level: $110

First stop loss: $100 Second stop loss: $93