Daily analyze of digital coins 20190902
News
1. According to data from BTC.com, at 10:35 on September 1, Beijing time, Bitcoin adjusted the difficulty of mining to 10.77 T at 592,704 locations of block height, continuing to reach a new high, an increase of 5.78% over August 17. It is predicted that the next difficulty will be increased by 5.32% to 11.34 T, with 13 days and 15 hours to go. In addition, Shallot found that the average Bitcoin arithmetic continued to be above 70 EH/s in the past two weeks, 77.08 EH/s, much higher than the average Bitcoin arithmetic of 72.79 EH/s on August 19. So far, the computing power of Bitcoin is 77.83 EH/s.
2. Global encrypted money market 24-hour trading volume fell to below $40 billion today, a new four-month low. Up to now, the 24-hour trading volume of encrypted currencies worldwide is US$40.68 billion. Of these, Bitcoin has traded $11.117 billion in the past 24 hours. Onion query found that the current market value of Bitcoin accounted for 69.19%.
Analysis
BTC continued to go up from yesterday to today, reaching a maximum of nearly $9,900. In the past 24 hours, the net inflow of BTC funds was close to $650 million, which was significantly increased compared with the previous cycle. Recently, BTC continued to rebound slightly, the daily line to see the details touched the yellow line triangle area on the lower track, the overall volume can continue to shrink, bull strength is not strong. The day is concerned about whether BTC can continue to move up and break through the resistance area of $9800–10000. Breakthrough failures are likely to be retreated again, with support below focusing on the vicinity of $9,500. In terms of operation, close to $9,800 above can be considered for moderate position reduction. If no position temporarily then there is no need to act rashly.
Yesterday and today, ETH has gone up with the market turbulence and is currently hovering around $170. In the past 24 hours, the net inflow of ETH funds approached 140 million US dollars, and the inflow of ETH funds increased significantly compared with the previous cycle. ETH rose close to $175 yesterday and then fell slightly. Daily trading volume did not increase significantly, but remained low volatility in general. The face of the market was significantly weaker than that of BTC, and there was too much wait-and-see for the time being. At present, we still think that ETH is a good choice for medium and long-term investment, and can continue to pay attention to it. In terms of operation, we should continue to replenish warehouses at low prices and take it easy.
Yesterday, BCH continued to consolidate in the $270–285 range. The volume of the market was not strong and the trend was still weak. At present, it maintains the view of yesterday. The level of the daily line is expected to bottom out, while the short line continues to wait for the right-hand opportunities. Technically, the 4-hour Brin Channel began to be collated horizontally, while the short line continued to be dominated by shock collation. The K-line of up-and-down long shadow lines appeared on the daily level for 3 consecutive days, with $270 below as the key support, and continued to wait patiently for market collation. The top concern is $285. Yesterday, short positions were selected to stop earnings and departure, temporarily based on wait-and-see.
EOS mentioned yesterday that bulls were under upward pressure, with sharp short-term fluctuations, which once diverted back to the support level of US$3.1. On the one hand, the market trend is still weak on the one hand, and the right-hand trend is unstable, and it is still mainly on the other. Technically, the 4-hour Brin Channel closes and moves to the right. Yesterday’s short-term crash shows that there is some support for the current short-term. Looking at the level of the daily line, we continue to focus on the $3.34–3.5 range. It is not expected that there will be much fluctuation in the level of the daily line. Short-term trading on the appropriate stop earnings exit, temporarily to wait-and-see.
On the capital side, the 24-hour outflow of XRP funds is about 320 million RMB, of which the net small outflow is the main one. From the view of the increase and decrease of the main positions, the main funds enter a serious wait-and-see mood. XRP stepped out of the volatile downturn yesterday, reaching a low of $0.25 this morning, followed by a rebound in the market, the K-line in the vicinity of the Brin Medium Rail. Technically, the four-hour line shows a hammer shape on the K-line this morning. However, the rebound can be similar, the overall market is weak but still basically linked to the trend of the market. Short-term indicators have no multi-empty bias, the intra-day market probability continues to interval consolidation, the upper resistance level for the upper platform support 0.265 U.S. dollars. Operationally, those who did not enter the market could withdraw to the vicinity of $0.25 to buy layer by layer and fall below the support to leave the market. XRP market is weak, futures do not recommend operation for the time being.
In terms of funds, the net inflow of LTC funds in the past 24 hours is about 800 million RMB, mainly in USDT transactions, with a turnover rate of 47%. Yesterday LTC moved forward around the Brin Medium Rail, and this morning it was on the upstream. The current K-line is near the upper line of the Brin Belt. On the technical side, LTC’s upstream capacity this morning is normal. It may be that there are more funds in the market, but it is still a saying that without the onsite funds, it is difficult to welcome a wave of optimistic upward market. At present, the news is not good, on the contrary, there are some potential shortfalls. The short-term market will still be volatile in the interval. The upper resistance level is $70 for the support of the upper platform and the lower support level is $62. This support level is more effective. If the market breaks down, the subsequent market will further decline. Low-level entry can continue to hold, fall below the support level to leave, futures can be in the resistance level near ambush light warehouse short.
Summary
Bitcoin rebounded around 200 points in the morning, which is currently hindered by the resistance of 9800. Other mainstream currencies are interacting, and the overall performance is weak. Next, we will focus on whether Bitcoin can break through the current resistance. The point of change above is $10,200. If it fails to break through before September 5, the probability will remain downward. The current upward trend reversal can not be confirmed by price. The follow-up remains to be seen.
Published at Mon, 02 Sep 2019 06:27:38 +0000
Bitcoin Pic Of The Moment
✅ This image from Marco Verch (trendingtopics) is available under Creative Commons 2.0. Please link to the original photo and the license. 📝 License for use outside of the Creative Commons is available by request.
By trendingtopics on 2019-03-27 15:03:45
