Golden trend丨BTC triangular arrangement The trend is not over yet

Yesterday, there was another sharp drop of nearly 1,000 US dollars. The price quickly dropped from above 12,000 US dollars to 11,160 US dollars and rebounded. Looking at the daily trend, once the daily line effectively falls below the support of 11,100 US dollars, it will form a daily head-and-shoulders pattern. Once formed, the subsequent downward killing space will continue to expand, and the next short-term support will be low in the previous period. The point is around US$10,500, and the theoretical target of this head-and-shoulders top is in the range of US$9,700-10,000. There is a gap in the CME futures in this area in the early stage, so once the US$10,500 falls below, it may accelerate the decline to fill the gap in this area .

Golden Morning News | Michelle Bond: The UK FCA's final guidelines have established a clear regulatory framework for encrypted assets: 1. Morgan Creek CEO: It is recommended to invest part of the net assets in BTC to hedge against problems in the legal currency and stock markets

2. IBM Chief Marketing Officer: The pilot of using blockchain to improve the efficiency of online advertising has achieved good initial results

3. The privacy coin Beam completed the pre-booked hard fork at block height 321321

4. About 25 million Americans are considering buying cryptocurrency in the next 12 months

5. Ma Weihua, the former president of China Merchants Bank: Qianhai needs to promote its transformation and upgrading through blockchain, etc.

6. Changpeng Zhao: Binance will launch the US branch in the next two months

7. Gemini Security Engineer: Using the same password on several websites is the root cause of most security breaches

8. Alibaba applied for a patent in the United States entitled "Blockchain System Cross-chain Interactive Domain Name Management Solution"

9. The recent dusting attack on Binance Litecoin users affected 294,582 addresses

10. Michelle Bond: The final guidance of the UK FCA has established a clear regulatory framework for encrypted assets [2019/8/16]

However, it should be noted that the success rate of BTC in building a head-and-shoulders in the past is not high. Every time, the price pulls up on the edge of breaking the neckline support. The bearish pattern of suspected head-and-shoulders mostly appears in the intermediate stage of a round of BTC's upward trend. Generally, it belongs to the method of strong washing of main funds, which continues to consume the patience and confidence of currency holders, and fluctuates back and forth in the range of 11,000-12,000 US dollars. , Increase the overall cost of holding positions in the market, take advantage of the trend to cultivate bearish sentiment in the market, and when the time is ripe, there is a high probability that a new round of trending market will start again.

Analysis | Golden Disk: The market is oversold and rebounds, and confidence has been restored: Comprehensive analysis of the golden disk: From the ranking of the top 100 currencies by market value, the top 12 currencies by market value have risen across the board. Although BTC has fluctuated sharply and there are many unfavorable factors in the news, overall, the market center of gravity has moved up, and investor confidence is also recovering. [2018/8/24]

From the perspective of BTC technical graphics, the current daily line is also in a triangle posture. The trend is similar to the convergence of the triangle in the previous range of 10,000-9,000 US dollars. The previous time BTC broke through the end of the triangle, and the price rose all the way from 9,200 US dollars to 12,000 US dollars. The interval rose by more than 30%, and the date of this terminal limit change is around September 25th. Yesterday’s wave of strong downwards, the price just fell from the upper rail of the triangle to the lower rail support. After the touch, the price quickly pulled up. The posture of inserting pins offline, the daily line in the previous period can quickly rebound after multiple pins inserting, which verifies the previous support function of the trend line. As long as it does not fall below effectively, BTC will still be in the posture of range consolidation in the near future. The recent ups and downs They are all brewing for subsequent changes in the market.

Golden Finance News: A company called Multicoin Capital has launched a new $10 million investment fund project, aiming to invest in a series of blockchain tokens. The company said in an email that it plans to raise $100 million in funding by the end of the first quarter of 2018. [2017/10/27]

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