The medium and short-term decline pattern is intact, and the trend is king.

The nature of each level: daily line - consolidation, 4 hours - down, 1 hour - down

The screenshot is from the 2-hour chart of OKEX BTC/USDT perpetual combination: For the market, there are two angles, one is the objective trend status and the coping strategies formulated according to the objective trend, and the other is the subjective prediction based on experience. Actual trading is mainly based on coping strategies under objective trends. Subjective forecasting is more of a prospect or entertainment for future development. It cannot be used directly as a trading strategy. The main purpose is to prepare psychologically for potential risks and opportunities in advance .

Data: Alameda Research transferred 45.15 million USDC to Binance: According to news on October 29, on-chain data showed that an address starting with 0x35 transferred 45.15 million USDC to Binance. According to Nansen data, the address was marked as owned by Alameda Research . [2022/10/29 11:56:39]

The current objective trend and coping strategies: As shown in the figure, the currency price tested the short-term resistance at the 10370 line twice last night and this morning. So far, it has not successfully broken through, and this morning there is even a false breakthrough. Since the behavior is to lure more, it may be the original intention of the market to go down.

From the perspective of the trend structure, not to mention the 4-hour chart, even the high point of each rebound in the 1-hour chart is still in a downward trend, which means that even the short-term trend is still in a weak pattern, let alone the mid-term trend . From the perspective of trading volume, one bottomed out on September 4th, accompanied by a significant increase in trading volume, but the subsequent rise did not last, not to mention that there is basically no obvious increase in volume in the current rebound, so the probability of a continuous rise is even lower. . Based on the above logic, it can be seen that the risk of so-called bottom-hunting and doing long is far greater than the opportunity, and it is more wise to take advantage of the trend to look short.

Saudi Basic Industries Corporation Launches Circular Raw Material Traceability Pilot Project Using Blockchain Technology: According to news on July 20, Saudi Basic Industries Corporation (Sabic) has launched a pilot project to investigate the use of blockchain technology to support the recycling of raw materials in customer products The possibility of end-to-end digital traceability. The project was initiated by technology company Finboot, recycling company Plastic Energy and packaging company Intraplás.

Traceability of raw materials in complex petrochemical value chains is currently a difficult task. To improve this process and support the delivery of its circular feedstock to customers, Sabic launched this pilot project to demonstrate the feasibility of using blockchain-based value chain IT applications. (Trade Arabia)[2022/7/20 2:25:47]

It is recommended to continue to focus on the first-line resistance of 10370 in the later stage, and not to go long blindly before a clear stand, especially when the rebound is close to 10370, it is not advisable to chase the rise. The lower support still focuses on the 9200-9500 area mentioned yesterday, and the first touch is likely to trigger a price rebound.

MechaFightClub completes USD 40 million in Series A financing, led by a16z, and participated by Solana Ventures and others: On May 10, P2E game MechaFightClub (MFC) announced the completion of USD 40 million in Series A financing, led by a16z, Michael Ovitz, Sonam K Ahuja , LuBall13.eth, Solana Ventures and others participated in the investment.

According to previous news, according to the US SEC’s documents on Friday, chain game company Irreverent Labs recently completed a financing of 40 million US dollars, a total of 11 investors participated in the equity and option financing, and will launch the P2E game MechaFightClub. [2022/5/10 3:01:48]

Subjective expectations (for entertainment only): It is expected that this short-term rebound has ended, and the market will fluctuate and go down in the later period. After entering the 9300-9500 range, it will usher in a rebound. This paragraph is not intended as a trading strategy reference.

Netmarble CEO: This year will focus on blockchain technology and NFT-related new businesses: According to news on March 29, Kwon Ning-sik, CEO of South Korean mobile game giant Netmarble, said at the 11th regular shareholders meeting held today that this year will focus on The new business of blockchain technology and NFT leads the global game industry. Kwon Ning-sik said, "We will release new blockchain projects sequentially. Recently, Metaverse and blockchain are becoming hot topics around the world. We will not disappoint our shareholders. In order for Netmarble to develop and make another leap forward, We have made great efforts to protect and research and develop next-generation technologies, such as blockchain, Metaverse and NFT.” According to previous news, Netmarble established a Metaverse subsidiary in August last year. In March this year, a subsidiary of Netmarble announced a cooperation with the game engine Unity on the development of the Metaverse platform. In addition, Netmarble reached a cooperation with the blockchain company Ozys on the technology development of its blockchain ecosystem MBX. (Block Media) [2022/3/29 14:24:32]

Resistance and support

Resistance: 10370--10700--10900

Support: 9800--9500--9300

The screenshot is from the OKEX ETH/USDT perpetual contract 2-hour chart: the current objective trend and coping strategies: ETH trend follows BTC, and the short-to-medium term trend pattern continues to remain short, and there is no clear sign of damage.

Continuing to take advantage of the trend is the kingly way. It is recommended to focus on the 368 first-line resistance next, which can be regarded as the dividing line between strength and weakness in the short and medium term. Don't blindly chase the rebound before there is no clear breakthrough. Although the falling pattern is intact, if the price hits a new low here, it is easy to form a bottom divergence structure, so don't panic and sell down after seeing the new low. At this time, it may be an opportunity for a short-term rebound in the game, which may trigger a rebound. The position focuses on the 300-315 interval.

Subjective expectations (for entertainment only): It is expected that this round of short-term rebound has ended, and the market will fluctuate downward in the later period, and usher in a rebound after testing the 300-315 range. This paragraph is not intended as a trading strategy reference.

Resistance: 360--368--392

Support: 332--315--300

The nature of each level: daily line - rising, 4 hours - falling, 1 hour - falling

The screenshot is from the OKEX COMP/USDT 2-hour chart: the current objective trend and coping strategies: among many DEFI projects, the trend of COMP is not strong, and it is basically in a state of follow-up in the rising market before the sharp drop, although it peaked late , but the absolute increase is much smaller than that of LINK, YFI, KNC, etc., but it is not inferior in the decline.

As shown in the figure, the rising market in the past two days is obviously of the nature of a rebound rather than a reversal. The rising process has not obviously increased in volume, and it has not clearly broken the characteristics of the rebound high point moving down. At present, the currency price is already under obvious pressure at the first-line resistance level of 184, and the probability of ending this round of rebound market is relatively high. If you are optimistic, it will be very difficult to break through the shackles of the strong resistance range of 184-199, so it is not recommended to stop now to buy.

Similarly, in the short term, there has been an absolute large decline, so the probability of continuing to fall sharply is small. You can continue to pay attention to the low point support near 150, and there is still a high hope for a rebound when it approaches again.

Subjective expectations (for entertainment only): It is estimated that this round of short-term rebound has ended, and then it will fluctuate downwards, and it will stop falling and rebound after testing the position around 150. This paragraph is not intended as a trading strategy reference.

Resistance: 184--199--208

Support: 162--150--140

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