Bitcoin sticks to the support of 11270, and the high volatility will continue

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

NYDIG: Bitcoin mining is expected to account for 0.9% of global carbon emissions in 2030: On September 22, New York Digital Investment Group (NYDIG) published a research paper entitled "Bitcoin Net Worth" this month. “Even in our most aggressive and priced scenario, bitcoin reaching $10 trillion by 2030, its emissions would account for only 0.9 percent of the world’s total and its energy spending would account for only 0.4%." It is reported that the study was written by Nic Carter, partner of Castle Island Ventures, and Ross Stevens, founder of NYDIG, discussing how the network's carbon emissions will change in the future, including the price of Bitcoin, the difficulty of mining and fluctuations in energy consumption. (Cointelegraph) [2021/9/22 16:57:31]

The current objective trend and coping strategies: After nearly three days of operation, the currency price still has not chosen a clear direction, and continues to fluctuate in a narrow range above 11270.

Data shows: The total number of Bitcoin ATM installations in the world has reached 19,202: According to the statistics of CoinATMRadar, as of now, the number of Bitcoin ATMs deployed worldwide has reached 19,202. [2021/5/2 21:18:29]

Since the 11270 first-line short-term key support has not been effectively broken, it means that the short-term trend is still in a bullish pattern, so even if the current rise is not strong, don’t rush to be too bearish, especially don’t go when it is close to 11270 Chasing short, on the contrary, for aggressive players, if you give another chance near 11270, it may be a short-term buying opportunity.

It said that 11270 has not broken the long-term pattern, but don't have too high expectations for the upper space, because the current rise has been going on for two days, but the trading volume is still showing serious shrinkage, and the kinetic energy indicator MACD is also there. There is a high probability that a top divergence or top-like divergence structure will be formed, so the probability of a short-term surge is very slim. If the currency price returns to above 11600 in the later stage, there will be an upward "pin insertion" phenomenon, which can be regarded as a short-term short-term rallies signal.

Voice | Grayscale: Bitcoin is the new gold for modern investors: According to AMBCrypto, the latest research report released by the American digital asset management company Grayscale (Grayscale) pointed out that with the development of currency and payment systems, Bitcoin will continue to threaten And replace gold as the ultimate monetary asset. The report further compared the utility and characteristics of Bitcoin and gold, as well as 7 factors of currency, namely scarcity, verifiability, durability, portability, divisibility, fungibility and recognizability. [2019/6/8]

Subjective expectation (for entertainment only): It is expected that the price will hardly rise significantly in the short term. If it continues to rise in the short term, there is a high probability that it will be blocked and fall around 11600, and continue to maintain the consolidation situation in the area above 11270. This paragraph is not intended as a trading strategy reference.

Voice | Alex Krüger: Bakkt and VanEck Bitcoin ETF will promote the Bitcoin bull market: According to newsbtc, digital currency analyst Alex Krüger said that the launch of Bakkt, an encryption trading platform supported by Intercontinental Exchange, and the approval of VanEck/SolidX Bitcoin ETF Will drive the Bitcoin bull run in early 2019. According to reports, Bakkt is tentatively scheduled to start trading Bitcoin daily futures contracts on December 12; and Gabor Gurbacs, director of digital asset strategy at VanEck, expressed confidence in the US Securities and Exchange Commission’s approval of its Bitcoin ETF application in an interview with Fox . [2018/11/3]

Resistance and support

Resistance: 11550--11750--12000

Support: 11270--10900--10600

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

The screenshot is from the 4-hour chart of OKEX  ETH/USDT perpetual contract: ETH trend follows BTC but is weaker than BTC. continued.

ETH also belongs to the long-term pattern in the medium and short term. The 366 (fine-tuned from last week's 368) line is the key support for the short-term. The main strategy is to buy when there is a callback, and short when there is a stagflation opportunity at the resistance level as an auxiliary strategy.

The key position to pay attention to in the callback is the area around 366, and the resistance level to focus on in the rise is 380-385.

Subjective expectations (for entertainment only) predict that the currency price will rebound slightly in the short term, and it is difficult to clearly pass the resistance of 381, and then pull back again, and continue to fluctuate in a narrow range above the 366 area. This paragraph is not intended as a trading strategy reference.

Resistance: 380--385--394

Support: 372--366--352

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

Screenshot from OKEX  YFI/USDT 4-hour chart: current objective trend and coping strategies: YFI rebounded after touching the 13300 line again on Saturday, forming a preliminary double bottom with the October 8 low, and the bullish situation has become relatively optimistic .

It is recommended to focus on the 15600 first-line resistance next, and do not rush to be bullish before breaking through, because it is still a typical short trend in terms of structure. If there is a phenomenon of breaking through 15600, the short-term is expected to rise further to test the resistance around 17600, but the large-scale decline pattern is difficult to change substantially, so the long-term opportunities at this stage are only short-term in nature.

Subjective expectations (for entertainment only): It is estimated that after the short-term hovering around 15600 is over, it is expected to continue the upward trend, fluctuate upwards to test the resistance around 17600, and then fall back and continue to consolidate at a low level. This paragraph is not intended as a trading strategy reference.

Resistance: 15600--17600--19000

Support: 14100--13000--12000

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