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Golden Trend丨Is the BTC bull market over?



Time magazine in the United States has partnered with digital currency platform and is now accepting crypto payments for its 18-month digital subscription. The option to pay with cryptocurrencies is currently only available in the US and Canada, with a global rollout planned for July 2021.

Goldman Sachs, one of the largest banks in the United States and a former bitcoin critic, has included bitcoin in its year-to-date (YTD) absolute and risk-adjusted income statements. Notably, Bitcoin leads the way in both. Despite yesterday’s market crash, BTC still ranks first with an annualized total return of more than 100%. Crude oil is next at 31%, while the S&P and Nasdaq 100 account for 12% and 9%, respectively.

According to the contract data, in the last 24 hours, 49.32% of the BTC network-wide contract trading volume was open to long, and the proportion to short was 50.68%. Among the mainstream contract exchanges, Huobi’s quarterly long position ratio is 48.76%, and its short position ratio is 51.24%. OKEx’s quarterly long position ratio is 52.05%, and its short position ratio is 47.95%. It is 52.50%.

Golden Noon News | November 9 at noon list of important developments: 7:00-12:00 Keywords: Ethereum 2.0, Bitcoin address, YFI, ElectrumSV

1. The Ethereum 2.0 deposit contract address holds more than 50,000 ETH;

2. Opinion: The new Democratic government in the United States will benefit Bitcoin;

3. Over 2,500 YFI were transferred from the whale address to the exchange;

4. The number of Bitcoin addresses with a balance greater than 1 BTC reached 837,000;

5. The open interest of Deribit Bitcoin futures increased by more than 100% in 40 days;

6. The European Commission of Ministers decided to ban Whatsapp and other end-to-end encryption applications;

7. Monero completed the Atomic Swaps project research and will develop related programs;

8. A serious bug in the ElectrumSV multi-signature scheme caused users to steal 600 BSV. [2020/11/9 12:04:38]

Golden Evening News | List of important news on the evening of June 14: 12:00-21:00 Keywords: Freeze Card, Xiong’an Technology, Encryption Fund, Dai

1. Major banks respond to "freezing cards": legal virtual currency bank cards will not be frozen.

2. Xiong'an Technology: It is expected that the group will record a significant decrease in profit for the year by more than 90%.

3. Data: A total of 8 crypto funds manage more than $250 million in assets.

4. The liquidation of the 24-hour contract market exceeded US$9.81 million.

5. Members of Congress: Digital assets such as Bitcoin may bring more challenges to the US dollar.

6. Mortgage of WBTC to borrow Dai has reached the debt limit of 10 million Dai.

7. Li Jinbin, Secretary of the Anhui Provincial Party Committee: Promote the deep integration of the blockchain and the real economy

8. Liu Changyong: Bitcoin fee overpayment attack exposed the directionality of blockchain development.

9. Bitcoin fell slightly, with a daily high of $9,492.72 and a low of $9,350.30. [2020/6/14]

There was a sharp drop over the weekend, the lowest spot price fell to around 51,000 US dollars, the contract directly fell below 50,000 US dollars, and the market liquidated more than 40 billion yuan. The sound of the end of the bull market came again. Is the bull market over?

Golden Noon News | List of important developments at noon on December 26: 7:00-12:00 Keywords: blockchain patents, Qingdao, Youtube, CoinTiger

1. Secretary of the Henan Provincial Party Committee: Vigorously develop the digital economy and promote technological innovation and industrial applications such as blockchain.

2. In 2020, the investment in key projects in Hebei will exceed 800 billion yuan, including blockchain construction.

3. Tencent, Ali, and Ruize Technology rank among the top three in the "2019 Blockchain Patent Application Rankings".

4. Qingdao released the "Three-Year Action Plan for the Development of Blockchain Industry in Laoshan District".

5. The virtual platform of Suzhou "Public Welfare Guarding the Blockchain" has been officially launched.

6. JD Logistics released the group standard of "Blockchain Logistics Tracking Service Application Guide".

7. Shenzhen BGI released the team standard of "Blockchain Gene Data Service Application Guide".

8. Baidu blockchain company Dulian Technology has undergone industrial and commercial changes, and Shen Dou is the chairman and legal representative.

9. A total of 38 big Vs whose encrypted videos were deleted by Youtube, Youtube said it would investigate the matter.

10. The main body of the CoinTiger exchange company has resolved to dissolve and is in the process of canceling the record. [2019/12/26]

Looking at the long-term weekly trend of BTC, it can be found that this downward weekly line just stepped back on the long-term 3.618 Fibonacci support line that had been broken through in the previous period, and then quickly rebounded. The point is around 52,000 US dollars. Breaking through and stepping back on the long-term 2.618 support line, the point is about 3160 US dollars. After finishing, it rose all the way to the bull top of 20,000 US dollars. Let’s compare the bull market in 2013. BTC also broke through and stepped on the 1.618 support line, the point is about 192 Near the U.S. dollar, it rose all the way to the 13-year bull top of 1,200 U.S. dollars. The first two rounds of the bull market all broke through the key positions of the week and ushered in a back step.

Jinse Finance Live Report Zhang Yingdong, Chairman of the Anti-Fraud Center of China Electronic Commerce Association: Join Hands to Build a Credit Platform: Jinse Finance Live Report, at the 2018 World's First World Blockchain Technology Expo, Zhang Yingdong, Chairman of the China Electronic Commerce Association Anti-Fraud Center gave a speech on the spot. He pointed out: In the field of financial technology, what is lacking most at present is the construction of culture. We know how to build a system based on financial attributes, but we ignore how to integrate it into the cultural level. I hope that all my colleagues will work together to build a credit platform. [2018/4/22]

At present, BTC has broken through the 3.618 position and has not fallen below again. It is obviously unreasonable to directly judge the end of the bull market. It is more likely to be a strong wash. The weekly line in the picture is also a long-term upward channel, and has broken through the long-term suppression of the middle track. There is a lot of space, and it has been reminded many times in the early stage that a sharp drop in the course of the bull market is an opportunity to buy low in the trend. If you do not break the key support, hold it patiently, and leave the market if it peaks. For now, BTC is also expected to usher in a new trend after finishing this area, so don't be blindly bearish at the moment.


Linked to the adjustment of the broader market, the lowest hit the 0.236 support line and rebounded. The daily line did not break the trend channel, and the weekly line did not break the long-term trend. Finish.


The trend support suggested in the previous period did not effectively fall below 236 US dollars. The healthy trend of breaking through and stepping back is still upward.


It fell sharply yesterday, but the weekly line still stood at the key position of 880 US dollars, and the upward space continued to open. Those who entered the market at low levels in the early stage held patiently, and the trend remained unchanged. Those who did not enter the market waited for the opportunity to buy low near 880 US dollars.


Yesterday's linkage heavy volume fell, and it still did not break the previous trend to support 30 US dollars. The overall trend is still upward, and the medium and long-term bargain hunting layout is patiently held.


It has fallen sharply, but it has not yet broken the strong support of US$5.7 suggested in the previous period. The trend is still upward, and it can still be deployed on dips near the decline. Organize and hold patiently.


It has been suggested in the early stage that there is an opportunity to buy low in the range of 300-305 US dollars. The sharp drop has not effectively broken through, and the trend is still upward. After finishing, it is expected to continue to climb upwards.


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