Golden Trend丨Knowing history and learning today, BTC will brew a new round of trends?

The picture above shows the comparison chart of BTC’s 2016 weekly trend and 2020 weekly trend. We can see from the figure that there are some similarities between the two trends. The trend after the half-start, the current trend of BTC is similar to the trend after the second halving in 2016. In the early stage, both of them rose sharply before the halving, all the way up and broke through the Fibonacci of the previous round of big bulls Carrying on the 0.382-point suppression line, the price hit a high and fell back. For example, the recent wave reached a high of 12,500 US dollars and then fell back. This is very similar to the trend in 2016. Later, the price stepped back on the 21-week EMA and the 0.382 pressure of the previous breakthrough. After the support line, the test breakthrough was effective and oscillated near the support line to gain momentum, BTC launched a new round of upward market again, and then ushered in the 17-year bullish market, and the current trend of BTC rushing high and then falling sharply, It is also similar to 2016. The price is back on the weekly EMA21 moving average and the Fibonacci 0.382 point support. The support range is between 9600-9800 US dollars. If the first-line support of 9,800 US dollars is not broken after repeated shocks, then the phased bottom support will be strengthened. As long as it does not effectively fall below this range support, after the follow-up price consolidation and gain momentum, it will also be possible to walk out of a trend similar to that in 2016, and it will also be It is expected to start a new round of trend market again, so don't be blindly bearish at the moment.

Golden Evening News | List of important news on the evening of November 10: 12:00-21:00 Keywords: Ethereum 2.0, CME Bitcoin Futures, Zilliqa, Filecoin Official, Ripple, Stablecoins

1. The UK Treasury is drafting a draft specification for stablecoins.

2. Filecoin officials will discuss the FilecoinPlus implementation plan at 1 am tomorrow

3. The Ethereum 2.0 deposit contract has accumulated nearly 50,500 ETH, and the completion rate is about 9.6%.

4. Ripple repurchased XRP for the first time in Q3 2020 to support a "healthy market".

5. From now until November 24, you need to deposit 32,000 ETH per day to release ETH 2.0 as scheduled.

6. Report: 2020 CME Bitcoin futures break records in terms of open interest and more.

7. Zilliqa plans to launch a DeFi ecosystem such as the decentralized protocol Zyro and the ZSwap exchange.

8. Overstock plans to expand its Irish team to develop software for tZero.

9. BB: I am optimistic about BSV and DPoS and believe that different consensus mechanisms will prosper together.

10. MicroStrategy CEO: BTC volatility is currently lower than traditional assets such as Nasdaq, S&P 500, and gold. [2020/11/10 12:13:48]

Countdown to BTC Halving | Golden Finance Mining Earnings Report: According to Jinse Finance, according to OKEx mining pool data, the next BTC halving date is expected to be May 10, 2020, and there are 61 days left before today. The current block height of BTC is 620872, and the block height of the next halving is 630000.

Today's total network computing power is about 121.13 EH/s, and the network difficulty is about 15.49T. The next difficulty is predicted to be 16.56T (+6.94%), and there is still one day left before the adjustment. Today's BTC income: 0.00001624 BTC/T/day. [2020/3/9]

Golden Finance News: Recently, H3C, a subsidiary of Tsinghua Unigroup, announced to join the Hyperledger project and participate in the development of blockchain standards and project pilots. [2017/11/6]

Tags：

OKX Official