Will today be the last big drop in Bitcoin this month?

In the face of news, technology is indeed the most effective basis for short-term judgment. Yesterday, we analyzed that BTC fell below the 60-day line for several consecutive days and did not return to above 60 days. The bottoming out of the shrinking volume is turning the disagreement into a consensus of another decline. However, ETH performed extremely strongly yesterday, so much so that many people followed the rebound of Ethereum, and everyone believed that a new round of rise was coming soon. As a result, after sleeping, Bai Zhenguo proposed a draft to impose a capital gains tax of up to 43.4% on the rich, which caused the US stock market to plummet, and BTC fell by nearly 10%.

So everyone was fooled by Ethereum, but the next round of the market has been set by Ethereum's rebound, and the future of blockchain application eco-currency led by Ethereum is coming. BTC returns to its configuration attributes and plays a role in guiding the direction of the market, and new targets will dance with the dance of ETH.

Back to the judgment on BTC, has the bottom been confirmed? See the picture above.

History will not simply repeat itself, but history has the same tone. When BTC fluctuates sideways, it usually bottoms out twice, forming a larger center, transforming differences into a new consensus through time and space. This consensus is a consensus on the new price anchor point of BTC.

So at present, the new consensus of 50,000 basically needs another big positive line to be reached. Have we seen the bottom now? Has the decline been completed? It is highly likely to be completed, but from the perspective of a trader, if we analyze the opening of a position on the left, is it a full position or a split position? Obviously, in the case of uncertainty, it is a split position layout, calculate the profit and loss ratio, do a good job of position management, and wait for confirmation on the right before adding positions.

So even here, we are moved by the lines we draw, but trading still requires us to coldly prepare risk response plans for the closed loop of trading. Is it still far for the fish to swim to the bottom or jump into the abyss? Let's wait and see.

ETH Market Analysis

This wave of ETH's rise is partly due to future expectations and partly due to the support of DeFi. At present, there is no new public application chain in the entire blockchain that can shake and challenge the future of Ethereum. With the arrival of Ethereum 2.0, the entire blockchain application world will transform into a larger pattern, which is why you have seen such a large trading volume in the 4H cycle recently. When old money and more technical talents pour into the market, Ethereum has become a hurdle that they must configure and cannot bypass.

From a technical point of view, large turnover at the bottom and reduced floating chips are the best market factors for the subsequent healthy growth of ETH.

LTC/XRP/EOS/BCH/ADA market analysis

Regarding XRP, I have said before that the previous wave of price increase was obviously an attempt to cash out and a scam. Since the legal risks of XRP have not been determined yet, there is always a sword of Damocles hanging over your head. As a founder, can you not pull up the price and take the profits first, and then slowly wait for things to be resolved and the market to fall naturally before buying back? Taking advantage of the crisis to make a fortune, donating tens of billions is fine, how easy it is for the founder to say.

It may seem like a risk from the outside, but it may actually be a great opportunity to make money from the inside. It is all a game of power and profit. Be careful of these games of unscrupulous capitalists.

As for the other three little dragons, they are currently following the trend of BTC. Their biggest opportunities now still come from the configuration ideas given to them by old money after entering the market. It is still unclear what they can do on their own.

EOS is unlikely to achieve anything, and LTC is also unlikely to achieve anything. Whether it is mining or LTC's own applications, they are not even as good as chicken ribs, so it is difficult to come in the future. BCH has recently been separated from Bitmain and Deer. Maybe everyone can really make BCH popular in the future. After all, it is not a fuss anymore, it is just about making money. So BCH can be followed to see if Mr. Wu can turn the deer into a giraffe?

DOT/KSM market analysis

DOT/KSM was led astray by BTC again. It was finally pulled up by ETH, but BTC slapped it in the face, saying “I haven’t stepped down yet, and you want to find a new owner”, giving everyone another opportunity to increase their positions, which is good.

KSM waits and sees.