BHEX Daily Crypto Watch, Perpetual Contract Strategy & Big Data(Feb 11, 2020)
Bluehelix is the leading DeFi Services & Tech Provider and is dedicated to providing world-class professional financial trading and assets management services. Bluehelix has businesses of BHEX Exchange, Bluehelix Cloud, and Bluehelix Chain. The in-house developed Bluehelix decentralized blockchain-based assets custody and clearing system serves more than 120 BlueHelix Cloud Partners with 5 million end-users with custody of more than 6 billion USD worth of assets.
Join our Bluehelix Official Telegram for discussion.
What is Perpetual Contract?
Perpetual contract is a derivative product that is settled in digital tokens such as Bitcoin (BTC)s (BTC). Traders enter either into a long (profit from upward trend) or short (profit from downward trend) position. Available leverage ranges from 1–100x.
Find out more about BHEX Perpetual Contract
Data from BTC.com shows Bitcoin hash rate has increased by 0.61% to 15.56T, setting a new record.
Crypto analyst PlanB said the price of Bitcoin will no longer fall below US$8,200. When block reward is halved, the minimum trading price of Bitcoin will exceed US$10,000.
Report shows Grayscale Bitcoin Trust (GBTC) holding of 285,000 bitcoins accounted for 1.57% of the total BTC in circulation.
US President’s budget proposal for the fiscal year 2021 seeks to expand the Treasury’s regulation of cryptocurrencies.
As of February 10, the number of BTC active addresses was 617,500, an increase of 5.11%. The number of on-chain transactions was 297,900, a decrease of 5.99%. There were 772 large on-chain transactions each holding over 100 BTC’s, an increase of 31.06%.
Market Situation:
The total cryptocurrency market capitalization is U.S. $ 282 billion U.S. dollars (-2.07%) and the 24h trading volume is U.S. $ 145 billion U.S. dollars (+11.23%). Bitcoin created FOMO after surpassing the 10,000 mark. However, the 10,000 support wasn’t confirmed and it corrected itself to 9800.
OKB surged 48% yesterday. OKB is a cryptocurrency exchange platform token. Recently, BHT made a reversal, a U-shape pattern showing signs of recovery. Platform token is similar to securities in the stock market. It will rise in a bullish market, an important sign of market performance.
Bitcoin encountered resistance at 10200 and pulled back to 9800. The 4H MACD formed a death cross with shorts strengthening. The K-line penetrated the mid Bollinger band and MA10 and MA30. Chances of a short-term correction may occur. Be mindful of the support at 9600.
Strategy: Long 9550, Stop Loss 9450, Target 9950.
BCH failed to cross the 460 after a third attempt to retest the resistance level. The three deviation Bollinger bands flattened in the 4H chart. MACD formed a death cross and shorts weaken. It may continue to test the 430 support before the next rebound.
Strategy: Long 436, Stop Loss 425, Target 460.
(The above is an opinion, not financial advice)
BHEX BIG DATA: Long & Short Position Ratio Soared, Bulls Emerged
As of 11 February, 10.30 am (UTC+8), BHEX Big Data shows the ratio of Long & Short position is at 2.11.
Perpetual Contract Funding Rate is 0.0665%;
The total number of BTC Contracts is 93,063,128;
The total number of BTC USDT Contracts transacted is 88,064,121;
35,002,357 BTC Perpetual Contract active Buy orders, and 24,900,365 of Sell orders.
<<View Previous Post
Published at Tue, 11 Feb 2020 06:01:18 +0000
{flickr|100|campaign}
