11550 key support level successfully defended, still don’t expect too much short-term upside space

The nature of each level: daily line - rising, 4 hours - consolidation (more pattern), 1 hour - rising

The screenshot is from the 2-hour chart of OKEX BTC/USDT perpetual contract: 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 .

The current objective trend and coping strategies: The currency price fell back twice yesterday afternoon to test the 11550 first-line short-term strength and weakness dividing line. The second time it was briefly pierced and then quickly pulled back. This afternoon there was a round of rapid market pull-ups. Break through the 11900 first-line short-term resistance level.

The main address of the FTX hacking incident received 21,155 ETH from other attacking addresses: According to the news on November 15th, according to the detection data of Paidun, the main address of the FTX hacking incident (the address starting with 0x59ab, marked as FTX Accounts Drainer on the chain) respectively from FTX Accounts Drainer2, FTX Accounts Drainer5, and FTX Accounts Drainer6 received 21,155 ETH. Up to now, the main address starting with 0x59ab holds nearly 180,000 ETH, worth more than 220 million US dollars. In addition, it also holds 48,458,800 DAI, 14,389,200 PAXG and other Tokens.

As previously reported, on November 12, FTX posted in its Telegram community that: FTX has been hacked and assets have been stolen. All apps have been tampered with as malware, please delete them immediately. [2022/11/15 13:07:31]

The 11550 line is the support line we have focused on in the past two days, or it is called the short-term strength and weakness dividing line, that is, the price above 11550 belongs to the bull control area, which is called strong, and if the price falls below 11550, it is short. The control area is called weak. Obviously, the currency price has not clearly fallen below 11550, so the bulls have always had the advantage. We suggested last night that the protective stop loss can be set at the 11500 line for long orders, and the price can drop to 11525 at the lowest price to avoid false punctures. However, the actual trend is still significantly better than our expectations yesterday. Although the currency price has stagnated after rising to the 11900 line, it is not obvious.

BTC breaks through the $11,500 mark: According to data from Huobi Global, BTC has risen in the short term, breaking through the $11,500 mark, and is now at $11,501.68, with an intraday drop of 0.39%. The market fluctuates greatly, so please do a good job in risk control. [2020/10/13]

Since the upward trend is stronger than expected, we should continue to be bullish, but in actual operation, we should not blindly chase up and buy, but continue to adopt the method of falling back and buying low. This kind of opportunity to pull back and buy low has been given by the market recently. For example, the opportunity to buy low at the first-line low of 11200 that we emphasized many times last week was tested back at 11550 this morning.

From the perspective of trading volume, although there has also been a moderate increase in volume, it is still much inferior to the volume and energy level in the previous rising process. In this case, the probability of a sharp rise is low. It is recommended that the next resistance focus on 12000 -12300 area.

Of course, in an upward trend, our focus should be on support, and resistance is only a secondary focus. As long as the key medium-term support -10670 is not broken, the mid-line will remain bullish. Similarly, if the short-term support is not broken, then the short-term is also bullish. If the weak short-term support is broken but the medium-term support is not broken, don’t be afraid of short-term adjustments, and wait patiently for the short-term adjustments to continue to do long when there are signs of an end.

Analysis | FCoin Bitcoin cold wallet address has been emptied and the peak value reached 11509 BTC: With regard to the FCoin incident, Beijing Chainsmap monitoring system analysis found that, judging from the total amount of BTC in its cold wallet, the peak reached 11509 BTC on July 22, 2018 Since then, BTC has shown an overall downward trend. The main transfer operation is to withdraw hundreds of BTC to the FCoin-related hot wallet address and then carry out further coin withdrawal business. In addition, according to statistics, this address has received a total of 186,934,562.8 OMNI USDT in history, mostly from its hot wallet collection and transfer.

On February 14 this year, nearly 55 BTC remaining in the cold wallet address have been transferred to the address starting with 363sZd, and the related OMNI USDT has also been transferred to this address. Currently, there are occasional withdrawal operations of hundreds to tens of thousands of USDT at this address. [2020/2/18]

Subjective expectations (for entertainment only): The actual trend is significantly better than expected yesterday. Next, it is estimated that the currency price will continue to rise but the range is limited, and it may be difficult to break through the 12300 first-line resistance. The medium-term upward trend pattern will not be destroyed, but in the short term it is difficult to get out of the already formed high-level consolidation pattern (the purple shaded area in the figure) and this segment is not used as a trading strategy reference.

Market | BTC has continued to fall below $11,500 within two hours: According to Huobi data, BTC has continued to fall within two hours and has now fallen below $11,500. The current price is $11,462.41, an increase of 0.37% at 24:00. Please pay attention to risk control. [2019/7/4]

Resistance and support

Resistance: 12000--12300--12500

Support: 11750--11550--11200

The screenshot is from the OKEX ETH/USDT perpetual contract 2-hour chart: the current objective trend and coping strategies: the strong Hengqiang is really not a casual statement, it is vividly reflected on ETH, and continued to rise sharply after a brief adjustment last night , It clearly broke through the high point in mid-August, and it was also significantly better than the expectations given by the commentary last night.

Yesterday we gave a short-term trend strength boundary line -416 line, as shown in the figure, the short-term adjustment of the currency price basically stopped falling and rebounded around this price, indicating that the key points we were looking for were verified by the market.

Judging from the continuous increase in trading volume and the trend pattern, there is no obvious sign of stagflation, and the market outlook should continue to be bullish. However, in this state of "accelerated" rise in the high area, I do not recommend chasing the rise. I bought it, because this kind of trend is too prone to rushing up and down. You can look back at history, and after the acceleration of more than 70% rises, there will be adjustments in the depth of education.

It is suggested that some profits can be cashed out on rallies, and then set a protective stop loss at the 454 line to hold the remaining positions.

Subjective expectations (for entertainment only): It is estimated that the price of the currency will fluctuate within a narrow range above 456 in the future. During the period, it is possible to set new highs again for a short time, but the continuity will not be very good, and it is prone to highs and lows. This paragraph is not intended as a trading strategy reference.

Resistance: 470--480--500

Support: 454--443--430

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

Screenshot from OKEX EOS/USDT perpetual contract 2-hour chart: current objective trend and coping strategies: EOS is relatively weaker, and it is only symbolic when BTC and ETH have seen a large increase Slightly broke yesterday's high.

It can be clearly seen from the trading volume that there has been no obvious increase in trading volume in the recent rebound, which is not only inferior to BTC, but also not comparable to ETH. Volume is the blood of price, and every currency that rises sharply is accompanied by this obvious and continuous increase in trading volume.

Next, focus on the resistance level at the 3.38 line. The probability of an effective breakout in the short term is small, so don't blindly chase the rise. For the lower support, you can pay attention to the position around 3.15. If there is a sign of stopping the decline when it returns to this price again, you can consider buying at a low price. After all, the overall upward trend is still there.

Subjective expectations (for entertainment only): It is estimated that in the short term, it will mainly fluctuate within a narrow range around the 3.15-3.38 area, and there is a high probability that the rally will continue after the shock ends. This paragraph is not intended as a trading strategy reference.

Resistance: 3.38--3.50--3.60

Support: 3.15--3.05--2.94

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