During the long holiday, Bitcoin closed within a narrow range as scheduled, and the hope of a short-term breakthrough is still slim

The nature of each level: daily line - consolidation (more pattern), 4 hours - consolidation, 1 hour - consolidation

The screenshot is from the OKEX  BTC/USDT perpetual 4-hour chart: For the market, there are two angles, one is the objective trend status and the coping strategies formulated according to the objective trend, and the other is the subjective prediction based on experience . Actual trading is mainly based on coping strategies under objective trends. Subjective forecasting is more of a prospect or entertainment for future development. It cannot be used directly as a trading strategy. The main purpose is to prepare psychologically for potential risks and opportunities in advance .

The current objective trend and coping strategies: The National Day holiday seems to have passed in the blink of an eye, and it has been nearly 10 days since our last pre-holiday (September 29) evening review, but the current price does not seem to have changed much . The daily closing price on September 29 was 10840, and the current price is 10870, a difference of only $30.

Voice | Blockstream Vice President of Product: Liquid is very similar to Bitcoin: Allen Piscitello, Blockstream Vice President of Product, introduced Liquid, a settlement network based on the Bitcoin sidechain. “Liquid is available to the public. It’s very similar to Bitcoin, you don’t need any other network permission to do things like issue assets, peg assets, send transactions. The only thing you need is some liquid Bitcoin to pay Transaction fees.” Piscitello also pointed out that Liquid helps users shield various information (such as amounts) from the public, which is usually public when dealing with bitcoin. Piscitello also shared Blockstream's long-term plans for the Liquid Network, which will enable cross-platform transactions without the need to custodial users' funds. He cautioned that as the Liquid Network grows, it will attract a lot of scammers, mainly because the network will enable anyone to create tokens. "It's up to the investor or the person buying to understand what they are," he added, adding that Blockstream is trying to create an infrastructure that can help users protect themselves from these types of scams. (AMBCrypto) [Original link] [2019/11/9]

Looking back at the prediction we made in the evening review on September 29, it was expected that the price would fluctuate within a narrow range between the upward trend line (as shown below) and the resistance of 11100 during the National Day period. Looking at it now, the expected and actual trends are still very consistent of.

VOICE | UT Prof: A Certain Whale Drives 2017 Bitcoin Price Surge: UT professors John Griffin and Ohio State University's Amin Shams update a paper they first published in 2018. In a paper last year, they claimed that Bitcoin's 2017 surge may have been triggered by manipulation. Now, they've come up with a new claim — that a certain whale may be behind the misconduct, seemingly capable of changing prices at will. John Griffin said in an interview: "Our results show that the price of Bitcoin is not driven by thousands of investors, but by one large investor." (Bloomberg) [2019/11/4]

Dynamics | In the past 1 hour, BitMex bitcoin futures contracts have been liquidated with multiple orders of 27.14 million US dollars. U.S. dollars, short positions liquidated 20.54 million U.S. dollars. [2019/10/11]

Well, let’s get back to the current market, the current position of the currency price is still not out of the upward trend line and the 11100 resistance range, and there is no sign that this range is about to leave, so don’t be too aggressive when operating. Next, focus on the resistance of 11100. It is not recommended to go long before the resistance level is clearly broken. Of course, if there is a phenomenon of breaking through with heavy volume, it is considered to follow the trend to chase the rise, so the winning rate will be relatively high.

Voice | Terry Gou's campaign office: "Taiming Gou invests in Bitcoin trading platform" is fake news: According to NOWnews, Terry Gou's campaign office issued a statement yesterday stating that a bitcoin trading platform falsely claimed that Terry Gou invested. This platform takes relevant legal action. The statement pointed out that many fans and websites such as "Fridaynewsify" created and disseminated fake news through social platforms and advertising promotions, claiming that Guo Taiming's program "1/2 Strong" promoted an automated bitcoin called "Cryptosystem" Trading platform, and falsely claiming that Guo Taiming invested in the Bitcoin Future platform, all the statements are maliciously fabricated false content, and Guo Taiming has never invested in the platform. [2019/6/8]

The focus of the lower support is still to focus on the rising trend line, and the current price is around 10550. As can be seen from the chart, the significance of this line is not ordinary, since May 10, there have been at least 7 price lows that are almost exactly on this trend line. This line can be regarded as the dividing line between long and short in the medium and long term. Before the breakout, the medium and long term is still bullish and long-term. If there is an obvious breakout, the bulls should consider risk aversion.

In the short term, the probability of an upward or downward breakthrough is not high. In contrast, the probability of continuing to oscillate between the above-mentioned support and resistance is greater. For aggressive players, you can consider surrounding the support (around 11100) resistance (10550) Nearby) sell high and buy low.

Subjective expectations (for entertainment only): It is estimated that the currency price will fluctuate within a narrow range between 10800-11100 in the short term, and short-term adjustments will be formed again after the narrow fluctuation ends. This paragraph is not intended as a trading strategy reference.

Resistance and support

Resistance: 11100--11500--12000

Support: 10800--10700--10550

The nature of each level: daily line - consolidation, 4 hours - consolidation (bearish pattern), 1 hour - consolidation

The screenshot is from the 4-hour chart of OKEX  ETH/USDT perpetual contract: the trend of ETH is also in line with our pre-holiday expectations. It did not break below 316 (the lowest fell to around 335).

From the current point of view, the trend of large and small levels is biased towards a volatile pattern, and there is no sign of an end. Then we had better not act as prophets in this volatile market. If the prophet is not good, it is easy to become a martyr. Next, focus on the potential consolidation zone of 335-354. Before breaking away, if you want to operate, you can sell high and buy low around the two price zones.

Subjective expectations (for entertainment only) It is expected that the price will continue to fluctuate between 335-354 in the short term, and it will be difficult to leave this area in the short term. This paragraph is not intended as a trading strategy reference.

Resistance: 354--361--368

Support: 348--342--335

The nature of each level: daily line - consolidation, 4 hours - down, 1 hour - up

Screenshot from OKEX  LINK/USDT 4-hour chart: current objective trend and coping strategies: LINK’s trend is also in line with the pre-holiday expectations. The trend has not broken through 11 since then, and the lowest fell to around 8.4 before rebounding.

Judging from the current trend, the area where the currency price has stopped falling and rebounded belongs to the intensive transaction area in the early stage. The reason why we gave the support level of 8 was because it was in this intensive area. Since this dense area is still playing a supporting role, follow-up is still the focus of attention. Once the price enters this area again, there is still a high probability that there will be a rebound. For the upper resistance, first focus on the area between 9.7-10. This area is also a dense area. Because it is above the current price, it is a potential resistance area. If the currency price touches this area, there will be obvious stagflation, or it will be higher Opportunity to do short-term empty orders.

Subjective expectations (for entertainment only): It is estimated that the currency price will continue the current rebound in the short term, or it will show a stagflation and fall after touching a position close to 10. This paragraph is not intended as a trading strategy reference.

Resistance: 9.70-10.00--10.50

Support: 9.40--9.20-8.85

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