BHEX Daily Crypto Watch & Perpetual Contract Strategy (Dec 30th 2019)
The People’s Bank of China stated that digital currency is regarded as one of the most critical infrastructures to the central bank in the coming years. The digital currency has completed its cryptography design, formulation, research and development, debugging and testing on the premise of adhering to the double-layer investment, replacement of M0, and controlled anonymity.
Coinbase CEO Brian Armstrong expressed his concern that Apple may remove Coinbase’s mobile DApp browser from its App Store on Reddit.
Wu Fulin, deputy governor of Bank of China believes that the London Interbank Offered Rate “LIBOR” may come to an end and a new era with Facebook cryptocurrency “Libra will emerge. The international financial and monetary systems are facing challenges and competition on algorithm and computing power.
Today Quantitative Crypto Analyst PlanB tweeted that Bitcoin’s 200-week moving average is still holding and it has been continuously heading upwards of $150 per month (a 3% increase).
Market Situation:
Bitcoin fluctuated this morning. It rose to $7,527 at 3:15 (UTC+8) but fell back slightly. It is now consolidating at around $7,400. The total market capitalization is at 198 billion (+ 2.57%) and the 24h trading volume is 76 billion (+ 4.92%).
The Bitcoin Cash (BCH) halving is near and the price performance is relatively strong. However, BCH itself is not possible to establish a bull trend to the entire crypto market. ETH has shown a slight recovery and its deviation has returned to the mid Bollinger band. The performance of XRP is still sluggish and EOS has entered a rebound momentum.
(The above is an opinion, not financial advice)
Bitcoin hit 7530 and has a pullback with a low transaction volume. Three of the Bitcoin Bollinger bands relatively flat. The chances of a reversal trend is minimal.
Primary Strategy: Long 7280, Stop Loss 7180, Target 7480.
Secondary Strategy: Short 7600, Stop Loss 7800, Target 7300.
ETH has recovered and is at its mid Bollinger band. There is a sign of an oversold rebound. ETH trading range between 120–147.
Primary Strategy: Long 132, Stop Loss 129, Target 140.
(The above is an opinion, not financial advice)
<<View Previous Post
Published at Mon, 30 Dec 2019 04:23:49 +0000
{flickr|100|campaign}
