Just at the beginning of the counterattack, China closed the US Embassy in Wuhan, a strong response to the US closure of the Chinese Embassy in Houston for no reason. Just yesterday, however, Trump announced the possibility of shutting down more Chinese institutions in the United States, a perverse act in violation of international conventions that once again led to a collapse of confidence in global financial markets. The A-share market fell as much as 125.68 points, or 3.8 per cent, today. The Dow Jones industrial average fell a further 134 points today after falling 1.31% yesterday. This makes the trend of US stocks in evening trading into a short feast.
In the past few days, I have been repeatedly saying one thing in my market articles: after a month of horizontal volatility and three consecutive trading days of strength, Bitcoin faces the pressure of crest connection again for three years. And it is suggested that Bitcoin will face the risk of a pullback around 9600. This morning the high point surged to around $9660. With the news of the closure of the US Embassy in Wuhan, Bitcoin synchronized global financial markets quickly returned below 9500 points.
After the rise of Bitcoin, the key pressure level 9560 resurfaced. According to the K-line compensation theory, the gap after the 4-hour rise will be filled one by one during the fall, which allows the short target to be placed near the upper edge of the box in front of 9260. When the target bit arrives, Bitcoin is likely to rebound again and re-fill the area with chips after a second fall. At the same time, due to the continuous tension in the international political situation, the US-China relationship is complicated and confused in the early days of the general election, and the moneymaking effect of the DEFI project is disappearing in the middle line. This is a bit like the 1CO era in 2017, when more than 90% of the tokens issued by DEFI in UNISWAP have been zeroed and junk items, which will cause a large number of leeks to lose all their money. After the tuyere, the market will enter the PLAYERUNKNOWN’S BATTLEGROUNDS stage. At present, 10% of the projects make money, 90% of the projects lose money, and finally the DEFI market will return to 99% of the tokens in 17 years. Only 1% of the leader projects will eventually survive, which will bring a large number of ethernet houses back to the secondary market, and the main currency market will bear a new round of selling pressure. The bitcoin market will not enter a bull market again until the DEFI tuyere weakens. This may be after the election in the United States, here to give readers a vaccination.
Yitaifang rushes higher and stands in the northward quadrant of daily line convergence, where bears should be patient to wait for ETH to return below $2670.This position will re-enter the eastfall quadrant of the market due to the reverse pressure of the rising trend line. The east fall quadrant is the slow decline stage in the polar coordinate warfare, which tends to bring more profits to the bears. At the same time, as the money-making effect of DEFI comes to an end, the seesaw effect of Ethernet and DEFI will gradually weaken. Ethernet will return to the synchronized bitcoin market. At the same time, it is important to note that ETH is indeed in the northward upper quadrant, which is a quick quadrant that bears need to be careful to pull up, and ETH is likely to hit the next pressure level.
LTC is still in the form of a daily line narrow convergence breakthrough, note that if LTC can re-stand above $45, it can be a long position, and the stop position can be placed around $43.50 on the convergence upper line. generally speaking, there is a good wave of horizontal narrow convergence at the bottom edge. But the rise of the mainstream currency also depends on the action of BTC, so more opportunities need to wait patiently. LTC is the worst performer in this market. The current market capitalization is lower than that of LINK, but LTC is DEFI’s grandfather project. LTC is implementing many scenarios of Lightning Network and anonymous payments one by one. Therefore, the status of LTC as the mainstream currency has not been shaken, so there should be some bullish confidence and confidence in holding money before falling below the convergent lower line of US $41 in the short term.
BSV basically went up to the upper edge of his convergence quadrant for the second time, and the target was near the reverse support position formed by the converging downtrend line, and the target was expected to see $167. As mentioned yesterday, due to the nature of demon currency, BSV is more likely to pull and slow down the style of painting, so the operation of BSV as a short direction is easier to make a profit.
Limited to the level, CVPLab’s point of view is for reference only, not as a basis for investment.