IDAX Center:Daily analyze of digital coins 20190726
- According to a report by the SFOX Research Group, the relationship between encrypted currencies has changed dramatically recently. Previously，US President Trump’s tweets on encrypted currencies and two hearings on Facebook’s encrypted currency project Libral led to a rise in Bitcoin volatility from 89.33% on July 10 to 100.30% on July 17. This is the first time since March 6, 2018 that the 30-day historical volatility of Bitcoin has exceeded 100%. The report points out that the market value of Bitcoin, which occupied the centre of encryption during the Libral hearing, has risen sharply from about 50% in March to 65% to 75% today. Leading counterfeit currencies such as ETH, BCH, LTC, BSV and ETC also showed a downward trend in the correlation with Bitcoin compared with previous months, before which they were highly correlated with each other. In addition, the report said: “Relevant data reinforces the view that investors and traders may still be more sensitive to BTC than other encrypted currencies, especially when the encryption industry enters the national regulatory vision.
2. The Securities and Exchange Commission (SEC) has sent a no-action letter to Pocketful of Quarters (PoQ) allowing the company to issue game tokens Quarters on the chain of the Taifang block and sell them. The company is a game startup that seeks to issue tokens on the Taifang block chain. This is the first ERC-20 token approved by U.S. regulators.
BTC has broken through the $10,000 threshold for anti-singleness since yesterday, but now it has fallen back, hovering around $9,800. In the past 24 hours, the net inflow of BTC funds is close to $600 million. The inflow of funds keeps high in a short time. Yesterday, although BTC once broke through the $10,000 threshold, the four-hour line volume did not show a prominent performance. Obviously, the bulls have not really started. In fact, the trend of BTC is not optimistic from the daily line, KDJ, RS and other indicators are diverging downward, MACD has come below the zero line, we continue to maintain the bullish view mainly because the recent performance of the platform currency and the mainstream currency market is relatively strong, hopefully to hold the market to continue to rebound. In terms of operation, we can consider building warehouses in batches and avoid risks by relying on the support near US$9600. We suggest that more funds be transferred to other mainstream or platform currencies markets.
ETH continued to rebound yesterday, reaching a maximum of $225, and has now fallen to around $215. In the past 24 hours, the net inflow of ETH funds approached 40 million US dollars, and the inflow of ETH funds decreased slightly from the previous cycle. The day-to-day inflow of ETH continued to strengthen, once exceeding 220 US dollars, but at night it began to fall under the influence of the market. Four hours to see ETH gradually out of the bottom triangular oscillation shape, has gradually approached the end of the oscillation, energy and amplitude are gradually shrinking, it is expected that the direction signal will appear soon. At present, the mainstream currency market is relatively strong, and there is likely to be a large number of major funds involved. We are temporarily biased towards the bullish view. Operational aspects, for the time being, diversion is a new entry opportunity. We can consider building warehouses at low prices and pay attention to risk control.
BCH still did not have a clear market yesterday. On the market, the overall trend is weak. The overall fluctuation range of the daily level began to decrease. Here we continue to wait for the more obvious form to operate. On the technical side, look at yesterday’s volume in four hours, whether up or down It’s almost flat. The opening of Brin Channel is narrowed, the short line and the time-line are arranged. Yesterday, we closed a needle under MA10. The resistance of the short line above is still obvious, while the support of the short line below can see the position of $293.
At present, BCH does not have a suitable opportunity in trading. The fluctuation range of daily level begins to decrease, and the average begins to turn around, but the market is weak, so we can wait for the obvious signal to appear.
Although EOS had a good performance in the previous trading day, the possibility of a direct breakthrough in a short time was not strong. Yesterday, the market fell below 10,000 US dollars again in a short time, while EOS continued to maintain the follow-up market above the support level and continued to pay attention to the technical aspects of the market. The 4-hour online view is still closed at MA10. Above, the multi-bull support situation is obviously stronger than other mainstream currencies, while the daily line still needs to complete the breakthrough of the mid-rail position. At present, the trend of EOS is probably affected by the market. As long as the market is stable, EOS may have better opportunities. Bottom positions continue to be held in trading. Yesterday’s withdrawal to $4.45 is an appropriate opportunity to maintain a proper position and stop losses can be properly moved down to the mid-track position of 4 hours.
The net 24-hour outflow of XRP is about 25 million RMB, of which BTC outflow is the main one, with a turnover rate of 5%. It has declined, and the main capital increases and decreases warehouse changes are weak. Technically, the XRP market was tidied up in Brin’s four-hour mid-track yesterday, the Brin band narrowed and trading sentiment continued to be in a downturn. At present, there is no obvious bias in XRP dynamic index and average index, and the short-term market linkage continues to shock and absorb. The support below the shocks is $0.3, which is also the more important psychological support in the short-term market. The top of the shocks is $0.33. Operationally, continue to wait and see, non-entrant traders can withdraw to the $0.3 range appropriate light warehouse entry, leverage operation is not recommended in the near future.
In terms of capital flow, the net outflow amount of LTC in the past 24 hours is about 190 million RMB, with retail USDT as the main net outflow. Technically, LTC had a narrow cross-sectional consolidation yesterday, and the K-line is now near the four-hour Brin Medium Rail. Current market is relatively depressed, the market is in the stage of falling, LTC is awarded a half, the recent market will be weaker than several other mainstream currencies. Short-term average has a upward trend of gold fork, the intraday market probability will be linked to a slight rise in market volatility. The upper resistance first sees that although there is a slight increase in volatility in the vicinity of $98 in the day, it is not recommended to buy more.
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Published at Fri, 26 Jul 2019 09:27:02 +0000
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