Market Analysis: Can Ethereum continue to rise after breaking through a new high?

Industry News

1. Colombian banks are working with crypto exchanges to pilot crypto trading

2. MicroStrategy CEO: Corporate executives are increasingly interested in cryptocurrencies

3. 500.com will purchase Bitcoin mining machines worth about $8.5 million

4. Data: Grayscale G BTC premium turns negative for the first time

5. The number of active users of the crypto browser Brave doubled in 2020, with monthly active users increasing from 11.6 million to 25.4 million, and daily active users increasing from 3.8 million to 8.6 million

6. Forbes releases the list of top 50 blockchain companies, including Coinbase , MicroStrategy and other companies

7. Andy Jassy will serve as Amazon CEO and consider integrating cryptocurrency payments

BTC Market Analysis

There has been less and less news about BTC recently. The world’s controversy over this thing has become smaller and smaller, and the consensus is getting stronger and stronger. This is also the core reason why the market is currently shrinking and trading is light.

As the market controversy of BTC decreases, its alpha property becomes weaker, so the factors affecting its volatility become more and more macro, and the impact of the micro volatility factors of the market itself on it becomes smaller and smaller. This is why we judge that the BTC leading effect will become relatively weak during this period and in the future.

But it is still the leader, but the leading effect (super alpha attribute) has weakened. Because consensus has been reached, everyone will focus their eyes and attention on finding the next "BTC" .

Technically speaking, BTC continues to run in the daily central axis. Yesterday we said that the support of the 4H cycle and the 60-cycle line superimposed on the shrinking volume pattern is the most stable pattern, but it does not mean that there is momentum for an increase. Even though it rose from 33,000 yesterday to around 35,000 now, the increase was only about 2,000 US dollars, or about 6%.

We will still hold positions and wait and see, because the risk at the current position has been eliminated, but the upward momentum is not there, and the position of 37,000-38,000 is still an important pressure point.

We do not think that the current market situation has the basis for a breakthrough, and the most likely scenario is a balanced market. Therefore, holding a position is risk-free, and the trend has no value for speculation .

ETH Market Analysis

ETH has hit a new high with a shrinking volume, the market is reluctant to sell, the consensus has become stronger, the main players have good control over the funds, and the fundamentals of the first year of expansion of blockchain application scenarios, etc., all make ETH the most likely new leader.

Scenario empowerment and application implementation have always been the development direction of blockchain, but the previous applications have become a fantasy bubble. Through the crazy year of 2020, technological advancement, acceptance of the traditional world, and the enrichment of scenarios have given blockchain, especially Ethereum, greater room for imagination.

So if we configured ETH with a speculative mindset during the 228-600 stage, then the investment from 650 to now is a process of our cognitive iteration. We began to believe that 2.0 would come out and ETH would never be destroyed. Facts have proved that optimists are at the forefront, while pessimists are left with nothing.

Continue to hold bullish positions and be firm about the future .

LTC / EOS / BCH / XRP Market Analysis

XRP has completed its wash-out. Can it rise again immediately? We believe it will not. It will be a long-term sideways trading. The main force has finished its profiteering and may now be celebrating with singing and dancing. After all, this is such a beautiful encirclement and suppression, an encirclement and suppression between power and the main force, an encirclement and suppression between the main force’s self-rescue and retail investors. This battle explains the story of the food chain clearly.

For us who are at the bottom of the food chain, we can only imagine that this story could be so exciting.

BCH and LTC are eager to try, stimulated by the stabilization of the market and the strengthening of ETH, but don’t be fooled. To break through the bottom, it still requires the accumulation of funds.

Currently, there are few factors that drive the market to follow suit, and you won’t get much profit even if you get on board. However, from a configuration perspective, it has long-term configuration value, because market expansion is only a matter of time .

DOT/KSM market analysis

DOT continues to fluctuate with reduced volume and continues to consolidate in the daily central range. Short-term risks are lifted, the central center of gravity has not moved, and the rising signal has not been confirmed. Continue to hold positions and still hold a cautious and optimistic attitude. KSM is consistent .

Market analysis completed on 2021.2.03 09:30