Golden trend丨BTC weekly breakthrough is expected to attack the big cycle suppression

The general direction is at the weekly level. Last week’s closing price has broken through the downward trend line of 14000-10500. There is a high probability that it will continue to rise after stepping back. The weekly MACD long volume column continues to grow above the 0 axis, and the price continues to rise along the weekly MA5 moving average After gaining momentum, it is expected to continue to attack the long-term downward pressure line between the 17-year peak and the 19-year peak. The current suppression point is in the 11000-11300 area. If this position can be broken through strongly, the chances of starting a band bull market will be greatly enhanced. The main step is to step back and buy low, waiting for the opportunity to continue to attack.

Market Analysis

BTC

Golden Morning News | March 27 Overnight Important Updates: 21:00-7:00 Keywords: SEC, Bank of Korea, Wall Street Journal, UK

1. US SEC Commissioner: Howey Test "does not perform well" when used in the cryptocurrency industry;

2. Governor of the Bank of Korea: CBDC will reduce demand for Bitcoin;

3. Wall Street Journal: Buying Tesla cars with Bitcoin may face heavier tax bills;

4. The U.S. Senate will advance the consideration of Gary Gensler as the chairman of the SEC in April;

5. BM: Bitcoin payments of less than $500 are more expensive than credit card fees;

6. The British tax office will release new guidance on cryptocurrencies next week;

7. Dragonfly Capital released the second phase of the fund, with a scale of 225 million US dollars;

8. Bloomberg strategist: The potential launch of Bitcoin ETP in the United States may support the rise in BTC prices. [2021/3/27 19:22:09]

The previous step back did not effectively fall below the downward trend line support of 14000-10500. Yesterday, it ushered in a rebound and approached the 10000 mark again. 10000 is not the key pressure level. The main pressure in the near future is still around 10100 at 0.618 points from 14000. This position is an effective breakthrough , the next step will continue to attack the previous top of 10,500 US dollars. The daily MACD indicator line is glued together. After the dead cross of the moving average, there is a golden cross again, and the rest of the daily averages are arranged in a bullish direction. The overall trend is still upward. In terms of technical graphics, it can also be seen that it is still running in the rising wedge-shaped triangle.

Jinse Finance Mining Data Broadcast | BTC’s network computing power rose by 0.34% today: Jinse Finance reported that according to the data from Spider Mining Pool:

The computing power of the BTC network is 133.658EH/s, the mining difficulty is 19.16T, the current block height is 660279, and the theoretical income is 0.00000691/T/day.

The computing power of the entire ETH network is 284.903TH/s, the mining difficulty is 3495.40T, the current block height is 11402991, and the theoretical income is 0.00567804/100MH/day.

The BSV network computing power is 1.144EH/s, the mining difficulty is 0.16T, the current block height is 664485, and the theoretical income is 0.00078704/T/day. [2020/12/7 14:24:25]

At present, the CME futures contract opens on Monday. Due to the rapid short-term pull-up of BTC over the weekend, a jump gap of 9730-9400 has been formed in the current trend. Support 9300-9400, pressure 10100, 10500.

Jinse Finance Mining Data Broadcast | BTC’s total network computing power dropped by 4.51% today: Jinse Finance reported that according to the data from Spider Mining Pool:

The computing power of the BTC network is 113.064EH/s, the mining difficulty is 19.99T, the current block height is 655066, and the theoretical income is 0.00000767/T/day.

The computing power of the entire ETH network is 267.162TH/s, the mining difficulty is 3319.49T, the current block height is 11174806, and the theoretical income is 0.00595503/100MH/day.

The BSV network computing power is 1.307EH/s, the mining difficulty is 0.20T, the current block height is 659480, and the theoretical income is 0.00068885/T/day.

The computing power of the BCH network is 2.234EH/s, the mining difficulty is 0.32T, the current block height is 659722, and the theoretical income is 0.00040277/T/day. [2020/11/2 11:24:39]

ETH

Golden Finance News: The Russian Ministry of Finance proposed at a meeting of regulators on Monday that bitcoin miners should be registered and recognized as legal to levy taxes on miners; at the same time, trading licenses should be issued to bitcoin exchanges, allowing only banks and financial institutions to Cash out digital currency. [2017/10/11]

Recently, the overall trend of ETH is obviously strong. The current increase has engulfed the negative line of the sharp drop on May 10. The currency price has broken through the 20-day moving average. The golden cross is upward, and the short-term strengthening trend is obvious. It has continued to rise recently. The graph has risen to the vicinity of the daily downward pressure line. This position has a certain short resistance. The previous high of 227 US dollars is also the 0.5 Fibonacci point. There will be opportunities in the probability of the position. It is expected that after a short-term resistance and retracement to gather momentum, the probability of the next upward breakthrough is high. In terms of operation, it is mainly to absorb bargains, and it is mainly to hold if it does not break the 5-day line.

EOS

Since the sharp drop on May 10, the daily line has had 8 consecutive positives so far. This situation is relatively rare. At present, the currency price has once again stood above multiple daily average lines. The daily line indicator line also has a golden cross trend, and the short-term strengthening trend is obvious. At present, the price has not recovered the negative line of the previous sharp drop. The main pressure is still around 2.83 US dollars. The upper edge of the range fluctuates, and it continues to pull up recently. Strong, it is expected that the probability of continuing to break through after gaining momentum is high. An effective breakthrough of 2.83 US dollars may usher in an accelerated market, and the main trend is to step back on the 5-day line and buy low.

BCH

After standing above the 20-day moving average of $245, the price has risen rapidly in a short period of time. It has risen to half of the previous Yinxian line. The daily MACD indicator line is about to cross, and there are signs of strength again overall. The current trading volume is the key and continues to increase The probability of continuing to attack is high, and the main trend is to step back on the 5-day line and buy low, and the probability of continuing to rise in the future is high.

BSV

In the early stage, it continued to organize along the 60-day moving average. Today, it pulled up and broke through, and stood above the multi-layer moving average. The short-term strengthening trend is obvious. At present, the highest touches the downward trend line and falls back slightly. As long as it does not break the 40-day moving average. Suction is the main factor, and the probability of continuing to rise is high. The main pressure is still above $225, around 0.382 points.

LTC

The price has continued to rebound recently, and it has now stood above the 20-day moving average. The daily indicator line is about to cross, and there are obvious signs of short-term strength. At present, the upper short-term pressure downward trend line, once it breaks through and continues to attack the previous high, it will be a high probability. Operationally Step back and buy low, with support at $44 and pressure at $48.

ADA

The whole is still running in an upward channel. At present, the price has changed upwards and broke through. It stands above the 0.382 suppression line from the top, ending the continuous range consolidation in the previous period. There are obvious signs of short-term strength again. Mainly, continue to hold if it does not break through the 5th, supporting $0.051

HT

Recently, the daily line has continued to rise along the 5-day line, and the MACD indicator line is about to cross. The price has recovered to 0.618 points above $4.09, which is also the position of the 20-day moving average. There is a high probability that the follow-up will continue upward.

OKB

The whole is still running in the upward trend channel, and the current price has risen to the vicinity of the downward trend line. There is a certain short selling pressure at this position, which is also the peak of 0.618 points at $5.5. Once an effective breakthrough is made, the upside space will continue to open, and the overall position is still strong. , mainly to step back and buy low, and the probability of a follow-up breakthrough is high, supporting $5.

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