Market analysis on May 10: Bitcoin sucks blood, replicating the trend of 2017?

BTC rose again at 11 o'clock yesterday, and continued to rise, reaching 6200 points and then fell back, showing a continuous pattern of rising and falling. Yesterday's closing price was 6035, and the closing price increased day by day. At the daily level, the price deviated from the moving average system and the operation was accelerated, the blank space increased, and the MACD indicator diverged and enlarged, all the way up. In terms of momentum, the bulls crushed the trend. On the whole, the big cake continued to rise, and the divergence phenomenon in the indicators became more and more serious. The entry of large funds caused the indicators to be seriously deformed, and the short positions of Huobi OK and other short positions were harvested one after another. At this time, our thinking remained unchanged and the fixed-point layout was still in place, but the position was strictly controlled. Once the big cake stopped, it was our time to increase the position. In terms of spot, the east wind was good, and it soared straight up. There was no need to change positions and wait for the retracement to increase positions.

The positive news on ETH has not actually landed, and it has been almost digested. The current positive triangle pattern is formed on the daily line. After the upward momentum increased, it quickly slumped, and the air force took over. The price continued to fall, and it went in the opposite direction of the big cake. The current price is around the 7-day line. If it goes down from the 7-day line, the short-term profit-making effect will disappear. In addition, the MACD indicator golden cross fails to continue to operate upward and tends to stick together. Ethereum will face a huge blow, and the price is bound to fall back and clear up. It may even reach 157 on the 56-day line. In the short term, there is no need to worry about the spot of Ethereum, and there is no need to pay too much attention to the short-term intraday changes of indicators. Just hold the currency and wait for it to rise, and add to the position at a low level. The contract range is 165-173, and it is mainly high and low.

There is no need for XRP to move out of the box. Believers can add positions at the bottom of the box at 0.28.

There is no substantial positive or negative news about LTC in the short term, and it will be cut in the long term, so just ignore it at this stage. From the technical perspective, at the daily level, the price has tested the 56-day moving average many times, and rebounded after getting support. The rebound space has gradually narrowed. The K-line pattern shows that the lower shadow is getting shorter and shorter, turning into a negative column with a long upper shadow. This kind of pattern change, coupled with the volume, has been dominated by shorts for 5 consecutive days. The MACD indicator has come out of adhesion, and the fast and slow lines are opening downward. The market has reached a critical point. Whether the 56-day moving average can provide support is the current focus. Once it breaks, short orders will proceed decisively. If the 71-75 small range is not broken, it is not recommended to enter the contract. Spot players should also pay attention to it. If it breaks, lighten positions appropriately and switch to strong currencies.

BCH's previous leading position has completely disappeared, and it is stuck in the quagmire. The deep V market at the daily level has been digested, and the market is expected to enter a small box oscillation market. The momentum is step-by-step attenuated, the MACD indicator is glued, and the opening has a downward trend again. Combined with the news, there will inevitably be a wave of diving and shocking positions in the early stage of the hard fork, which will open the price range and absorb low-level chips. This is also one of the usual means. At present, spot players are appropriately involved in grabbing chips at low levels. Contracts are mainly short orders, and once the market changes direction or the fork is approaching, the direction will change immediately.

EOS has launched a proposal to cut inflation again, and it is likely to fail again. The determination is good, but the implementation is too difficult. It is a long-term positive, but the failure of short-term contact will have a negative impact on the market. It is also reflected in the market. At the daily level, the price has repeatedly touched the 56-day moving average and rebounded. The market has opened up space until today's market directly broke through the 56-day moving average and pulled up the 21-day line under pressure. Whether the price can maintain around the 56-day line is a question. Spot pays attention to the break to reduce the position appropriately or change the position for risk hedging. Enter the short position when the contract breaks

ETC has the lowest market attention, even worse than XRP. Compared with the project's own update and technical performance, it is seriously underestimated, and there is not much news. The entire intraday performance is unbalanced, and each round of downward trend will become the vanguard, which is also closely related to the market's own heat. At the current daily level, it has become the first mainstream currency to fall out of the 56-day moving average. MACD has also opened and increased downward. The decline in volume may be the only good news. On the whole, ETC spot, based on the fact that the unequal value is seriously underestimated, can appropriately increase positions and wait for value correction. In terms of contracts, pay attention to whether the price closing can return to above the 56-day line. Do not short orders, but can operate in a small range.

Author | Qin Chuan