Daily analyze of digital coins 20190904
News
1. Investment management company VanEck Securities Corp and SolidX management, plans to sell the Bitcoin Exchange Trading Fund (ETF) to institutional investors on Thursday. But Ed Lopez, head of VanEck ETF products, said in an e-mail statement to Reuters that the issue allowed shares to be created and traded like ETF, but it was not ETF. Unlike ETF, it is not listed on the National Stock Exchange, but is cited on the OTC Link ATS platform. Jan van Eck, chief executive of VanEck, said the institutional demand for Bitcoin was uncertain because there were no institutional quality tools so far. We are introducing solutions for institutions that fit their business processes and current regulatory frameworks. Note: The two companies will sell shares of Bitcoin Trust to qualified institutional buyers, which will further attract institutional funds into the encrypted money market.
2. According to Crunchbase, investors invested about $3.38 billion in ICO and corporate private equity in 2019, a fraction of the total investment of $12.86 billion in 2018. This year, investment in firms related to the tightened currency and block chains is declining. This year, block chains and encrypted currency transactions are slower than in 2018, the worst year of the encrypted winter. Although there has been little change in currency trading and startup financing, much less money has been invested.
Market Analysis
BTC continued to climb up to nearly $10,800 yesterday and is now slightly down to around $10,600. In the past 24 hours, the net inflow of BTC funds was close to $350 million, which was less than the previous cycle. Yesterday, BTC continued to break through the resistance of the daily MA6O strongly, and maintained the upward trend of concussion in the short term. It may be that it wants to test the yellow line triangle concussion in the picture above. Along the line. Within the day, there is a withdrawal, but the 4-hour line is still moving along the average line, the withdrawal volume can be small, and the short-term trend is relatively stable. Focus on resistance near $11,200 above and $10,500 short-term support below. In terms of operation, the warehouse can be built step by step if the warehouse is stepped back close to the support position in a day.
ETH has risen sharply since yesterday, once exceeding $180, and is now back near $178. In the past 24 hours, the net inflow of ETH funds exceeds US$100 million, and the inflow of ETH funds has a distinct advantage over the outflow. ETH finally began to increase its volume yesterday, breaking through the 7-day and 10-day average to form a small arc bottom. Today, after stepping back on the 10-day average, there is a slight rebound, there are signs of stabilization in the short term, and it is expected to continue to rise with the market in the near future, but we need to pay attention to the risks. The upper resistance is below $184, and the support around $175. In terms of operation, the positions of long-term and medium-term investors can be controlled within 50%, and if they can return to below $175 in the future, they can consider continuing to raise funds.
BCH broke through the $300 mark again yesterday night. With the rise of the market, the short-term entered the consolidation range, and the short-term in the day was mainly consolidation withdrawal. For the time being, it is not recommended to pursue more. Technically, the short-term band breaks through to the bottom of an arc near $306 in 4 hours. The upper part comes to the pressure level before the fall. The short-term probability is mainly to sort out and withdraw, while the lower part focuses on $288. Looking at the position of MA10 on the station at the level of daily line, the midline tends to be multi-headed, and the layout of the midline should be continued to be considered. Waiting for short-term consolidation in trading, continue to consider the layout above the short-term support level, and pay attention to the trend of the market.
EOS rose slightly in the early morning, but then the market quickly fell back to follow the market, on the one hand, it also shows that the market is still weak, follow-up market may appear similar to this year, once the market withdraws, EOS may have greater volatility risk. Technically, the 4-hour market retreated to the vicinity of the mid-rail, forming a support position near $3.3 below the short-line, and the day-line level saw a pin inserted into the upper MA10 position yesterday. The pressure on the upper part of the short-line remained, while the upper part focused on the position of $3.5. If there is a weak pull-up on the right side, Short-space operation close to the resistance level can be considered. The daily trading line continues to pay attention to the position of MA10, the return of the market, the long-term spot is the main, the short-term is the main.
In terms of funds, the net outflow amount of XRP 24-hour funds is about 250 million RMB, and the net outflow and turnover rate basically maintained the level of the previous cycle. The XRP market fell to the four-hour Brin Medium Rail in the daytime yesterday, breaking through the resistance level of $0.265 at night, but the bull market can be weak, and the subsequent market has retreated. Technically, last night’s breakthroughs were modest, and the withdrawal failed to shift the resistance position to support, breaking through the rising market and entering the adjustment stage. However, at present, bulls are accumulating energy. Follow-up market depends on the strength of the market withdrawal. The market callback can be general. XRP short-term market is expected to rise again, with the upper resistance level set at $0.275. Operationally, waiting for the confirmation of the market callback, the spot will continue to hold, and those who do not enter the market can be withdrawn to buy in Brin Medium Rail Light Warehouse.
In terms of funds, the net outflow of LTC funds in the past 24 hours is about 100 million RMB, and the net outflow of funds, mainly KRW cash arbitrage, increased to 42.3%. Last night, the LTC rose in volume and retreated after piercing the resistance level of $7. This morning, it again shook upward and broke short-term highs before retreating. Technically, the short withdrawal intention was general yesterday. There were two breakthroughs last night and so far. The long-term potential was strengthened. From the four-hour line, the K-line has the possibility of forming the bottom shape of the arc. Follow-up market is expected to see whether it can effectively stabilize $70, while stabilization is expected to see around $75. Operationally, the light warehouse can be bought or added after breaking through the stabilization of $70, and the warehouse can be reduced when breaking the Brin Medium Rail.
Summary
Yesterday, Bitcoin continued to attack, reaching a maximum below 108,000. In the long run, 12,000 did not break, in the short run, 9,100 did not break. At present, although a Bola has risen by about $1200, it can still be said that it is still in the range of 15% to 25%, which is not suitable for a wave of all-in long or short. At present, short-term technology is biased towards short-term, but the uncertainty is large. If the bulls can maintain the position of about 10500, they will continue to oscillate here in the future. Otherwise, they are likely to slide all the way down to less than $10,000.
IDAX global blockchain digital asset exchange
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Published at Wed, 04 Sep 2019 10:16:34 +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 2019-04-13 03:03:51