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Today's happenings in the crypto world; Edition #9

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Written by   9
1 year ago

CryptoExplorers says

Lao Mei, these silly leeks, took the initiative to smash the market on Coinbase yesterday, and they were panicked. Domestic buyers led by OK Huobi went frantically to buy the bottom, causing Lao Mei, who fled in panic, to break his thigh. This script is similar to what the CryptoExplorers thought. I gave this judgment in advance yesterday based on two data. The first is that 14% of the population in the United States has invested in cryptocurrency, indicating that the market is full of leeks. The second is that Coinbase continues to actively sell, which is the leading exchange. Therefore, it can basically be judged that it belongs to the panic of leeks. However, judging from today's trend, the CryptoExplorers believes that the callback cycle for this position has not yet ended, and the rebound can basically be gradually lightened out.

The external regulatory environment is still relatively bad. The South Korean police handed over the chairman of the Bithumb board of directors to the prosecutors for alleged fraud. The Korean Bitcoin premium continued to drop to 2%, indicating that South Korea’s strong supervision has greatly affected the behavior of cryptocurrency investors More sentiment is a negative for the market. The Turkish side started an investigation on the second exchange to freeze Vebitcoin bank accounts. 62 people were arrested in the Thodex investigation before. This panic is conceivable. At the same time, the Turkish Ministry of Finance is studying cryptocurrency regulatory rules, and these news will continue to dampen the sentiment of the bulls.

The decision of the supervisory level made the Korean people reluctant, and collectively submitted a petition to the presidential palace, calling on the chairman of the Financial Services Commission to resign, and accused the zf double standard of restricting investment opportunities for the new generation. Quite interesting, but whether the public opinion in South Korea is worth money depends on how zf feeds back, haha.

The SEC began to formally review the Kryptoin Bitcoin ETF, and it has up to 240 days to reject the application. VanEck and WisdomTree, which have already been applied for before, are still in the process. There will be news in November at the earliest. This is the only thing left that can make Bitcoin soar. News. At the same time, the investment company Valkyrie also submitted a Bitcoin ETF application to the US SEC today.

The state of Louisiana in the United States passed a bill that believes that Bitcoin will replace gold as a new reserve asset. The state is considering how to benefit from this new technology. In the future, if all countries will include Bitcoin in their budgets, I am afraid that it will only be a matter of time before they can be used globally.

Asset management giant company Charles Schwab said that if the United States can give more clear supervision, Charles Schwab will consider launching cryptocurrency services. If this company can launch a cryptocurrency service, there will be a lot of buying, because it is facing countless people with investment and financial needs, and all this requires clear US regulation, which is why regulation is Short-term labor pains, long-term benefits.

The gray-scale discount rate has declined, indicating that there is a certain amount of capital inflows in the evening, but the premium of U has never come up, and the overall bottom-hunting funds are relatively limited.

Market analysis


On the whole, today's trend is much weaker than expected. This kind of position should have a relatively strong rebound, but it turned into a shocking market. Therefore, in the short term, the CryptoExplorers believes that the downtrend is not over yet, and the 3-5 days safety period judged yesterday has expired. If the market can set a new callback low, bargain-hunting funds may rush in. 46000-47000 is a better short-term participation position.


The biggest problem today is Ethereum. It was so strong before, but it did not rebound after the plunge. As a weather vane, it directly brought bad market sentiment. The recent accelerated growth in the number of active addresses in Ethereum means that a lot of people have been set up in high positions, and short-term expectations should be lowered. But from the mid-line point of view, EIP1559, which will be passed in mid-July, is when Ethereum really starts to exert its strength.


The disadvantaged do not participate.


The technical rebound is still linked as a whole.


The bullet did not play and was weaker than expected. Even if there is a rebound in the back, the height will not be too good.


Stop loss and leave the market if it is wrong.


The rebound rate is not bad. If this currency is brought down by the pie, you can participate.


Today's rebound shows that there is capital to protect the market, and it can be considered if it falls back later.


The elasticity is very strong, it is likely to belong to the wrong killing type, and there is a chance to return to the upward trend of shocks.


Yesterday, those who participated in the follow-up bargain hunting can take a walk in this position. The pressure above 0.28 is high, and it is difficult to directly break through. This market can eat 20%.

Most currencies are restorative. Don't chase the high. There is no possibility of reversal at the moment. If you can create a new low, you should get on the market after the callback.

That's it for today, I wish you all a happy weekend, the message area is closed, and we will see you tomorrow.

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Written by   9
1 year ago
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