Daily analyze of digital coins 20190924
News
1. Bakkt Bitcoin Futures started trading yesterday, but so far only 71 Bitcoins have been traded. But Adam White, chief executive of Bakkt, remains optimistic. Although most of the attention is focused on the potential for institutional capital to enter the sector through Bakkt, White opens the door for retail investors to enter the market. “Bakkt is really designed for institutional traders, so it’s a futures contract,” he said in an interview with CCN. That is to say, we expect that the futures contract can also be traded through retail brokers, so retail customers can trade the contract. In addition, it further points out that the ICE has been working on Bakkt and futures contracts for more than two years, and the growth of user demand may be slow, but the 12-month extension of Bitcoin’s monthly contract will help to predict the price trend of Bitcoin in the coming months. This is important not only for speculators, but also for entities that depend on Bitcoin prices, such as mining companies that want to hedge risk.
2. With the joint efforts of global nodes, the EOS main network has successfully activated version V 1.8. The main optimization before upgrading are as follows: 1. Using dApp on EOS main network more safely to resist malicious attacks by checking all operations; 2. Repairing the problem of deferred transactions, such as RAM not receiving; 3. Resources such as CPU/NET on EOS chain can be borne by dApp, so as to improve user security. Step by step to lower the threshold of EOS usage; 4. Prepare for Voice to go online, Voice is an important social product that Block. one is planning to launch and needs a new version to implement.
Market Analysis
BTC completed the downward break of 9890, the key hint of yesterday’s closing, in yesterday’s trading yesterday, and accelerated the downward trend further at night, and achieved the effective arrival of the first support line 9600, which was suggested in yesterday’s closing. Although the price has come out of a certain rebound performance, the actual rebound strength is limited. The forward market still operates in the disadvantaged areas. However, the rebound in early trading seems to be only the technical rebound correction after the first round of decline touches on the clear support position. It is reasonable that the price rebound correction occurs after the serious oversold of short-term indicators is consistent. Therefore, it is not recommended that the current rebound be interpreted excessively as long as the price remains at 98. Running below 90, the short-term downward target of 9400 mentioned in yesterday’s closure is still worth looking forward to. For BTC, the idea of short-term trading follow-up is further simplified. After the first wave of short-term orders landed smoothly, the short-term can continue to use 9890 and 9600 as benchmarks. The price reversal test of 9890 is again frustrated, or it is confirmed that after falling below 9600, a new round of short-term follow-up can be done to catch up with the target of 9400. When 9400 is in place, as long as there is no extreme situation of instantaneous dive breakdown, it is recommended to make profit settlement in time. This position can be used as a reference for strong support of midline level. There is a greater possibility of forming band stop-fall reversal near this area, and it is worth making key observation after it is in place.
Yesterday EOS rebounded after a period of callback, today began to upgrade at 9 o’clock, it is expected that the impact on the market will not be too big, or continue to maintain a 4-hour level of shock trend in the short term, after the completion of the shock adjustment will choose to go up to a new rebound. Support: $3.65, pressure: $4.
Yesterday, BCH fell back to the vicinity of the 30 th line, which played a supporting role in the adjustment. Short-term extension of the 30 th line will gradually increase after the shock accumulated energy, and the upgrade time of BCH will begin to approach. After the adjustment, there is hope to come out of a strong rebound. Short-term support: $295, short-term stress: $318.
In the early morning, LTC came out of an unexpected wave of independent diving. The market plunged from above 72 to below 62 within a single four-hour line. It hit a new intra-month low. Although the market rebounded quickly and recovered nearly half of its decline, the current market is still running below the lows of the past two weeks, short-term. The short-term momentum created by this sharp fall has not yet been effectively reversed. Since the price of LTC has returned to the top of the 0.382 Golden Section resistance after the rebound of LTC in the morning, the price has actually entered the key area to confirm whether the short-term decline can continue, while the new round of direction selection in the area of 66.80–68.40 is for the future market. Further development is very important. Once the price falls below 66.80 again and gives a signal below that position to confirm the effective resistance, we can make a decisive short single pursuit. Look at 63.90, 60.90 under the target. However, if the market further accelerates the rebound and quickly recovers to the 68.40 front line, then the fall laid down by the sharp fall in the early morning will temporarily come to an end, the market will return to the volatility of the 68.40–71.20 region in the early part of this month, and the value of short-term trading will be significantly weakened.
Conclusion
The overnight mainstream currencies did not unexpectedly come out of a collective pullback. As stated in yesterday’s retail analysis, the cool performance of Bakkt Bitcoin futures after they came online shows that market incremental funds are very limited in the short term, while the stock funds are also lack of liquidity. This shows on the side that investors lack confidence in the market. The direct impact of this is that BTC came out of a wave of rapid bottoming at night, and driven other second-line mainstream currencies covered in the thermodynamic chart out of the plunge. If we do not take into account the unexpected rise of XTZ in Europa yesterday, all currencies with high night market value will inevitably fall collectively, with an average decline of more than 3%, and the stage-led LTC has gone out of nearly 9% diving performance overnight.
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Published at Tue, 24 Sep 2019 05:17:06 +0000
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