12.Market at noon on 8: The market is not in decline, and the price is expected to continue to rise

The article is contributed by the blockchain analysis of Niu Qi, the columnist of Jinse Finance and Economics. The remarks only represent his personal views and are only for learning and communication! Golden Disk will not actively provide any transaction guidance, nor will it charge any fees to guide transactions. Readers are requested to carefully screen and beware of being fooled.  

The shock range of Bitcoin is getting smaller and smaller, and the price has reached the end of a triangle convergence structure. After the violent rise, it has calmed down for a few days. Most investors have begun to realize that the two-month pull from October to now The rise has reached about 90%, and the adjustment may continue for a period of time, but now that it is entering the final stage of convergence, this period of calm is likely to be broken, and the fluctuation of the market will be broken by new forces, and the increase in volatility is also an opportunity to make orders Appear.

TokenInsight: DYDX is valued at US$6.22-12.08: TokenInsight estimates the price range of DYDX to be between US$6.22-12.08 based on the transaction volume and lock-up volume of DeFi derivatives trading protocols dYdX and Perpetual Protocol. Note: This calculation is not intended as investment advice. [2021/8/4 1:33:34]

Let's take a look at the disk analysis. Looking at the daily line, the price is still above the 5-day line. After breaking through in the early morning, it quickly pulled back up. There are still a lot of orders below. Worry is nothing to worry about. The operation is still very honest , the daily MFI has reached near the mid-line, and generally it will stop rising when it reaches this point; during the early morning decline, obv quickly rebounded with the price drop, indicating that funds come and go, and long and short chips are constantly changing hands. There is no downturn in the whole trend so far, there is no reason to be short at the current position, the price is likely to go up today, and continue to challenge the position of 19,500 US dollars.

Data: The average value of a single Bitcoin transaction exceeds $129,000, the highest point in more than a year: As the bull market continues, the average value of a single Bitcoin transaction is at its highest level in more than a year, and active-zce addresses remain close to historically high levels. The average value of bitcoin in a single transaction peaked at more than $129,000 on Sept. 17, according to blockchain data provider BitInfoCharts. The last time Bitcoin’s average transaction value exceeded $121,000 was in August 2019, when one or a few large transactions pushed the total transaction value to an average of more than $812,000, an anomaly. The average value of bitcoin transactions has not been this high since late 2017, when the bitcoin price hit an all-time high of just under $20,000. (Decrypt)[2020/9/21]

Quotes | Renren, a concept stock in the blockchain, fell 12.28%: Today, the U.S. stock market opened, and the three major stock indexes rose and fell. Renren fell by 12.28%, Secoo rose by 3.04%, China Online dropped by 4.32%, Xunlei rose by 0.87%, Cheetah Mobile rose by 6.91%, and Lantingji was flat. [2019/6/17]

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Author: Niu Qi's Blockchain Analysis Notes

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