[Analysts look at the market outlook] Regulatory frameworks in various regions have been clarified one after another, and attention will be paid to breakthroughs in important points in the day

The attitudes of Asian and European countries towards the crypto market are in contrast.

7.8 Morning News

Although the market attributes of cryptocurrencies have contributed to the prosperity and development of blockchain technology, their “natural” financial attributes have also brought huge regulatory pressures during the development of the industry. However, as the blockchain technology matures and the central banks of Wall Street and even the major economies around the world have a better understanding of cryptocurrencies, the purely “repressive” regulatory environment for cryptocurrencies has undergone a certain transformation worldwide. Judging from the current situation, Asian countries have not reversed their preference for high-pressure supervision of the crypto market, European countries are relatively open-minded, and the overall attitude of the Americas is mostly wait-and-see.

Message interpretation:

 1. At present, most countries in Asia have relatively clear regulatory frameworks. China, Thailand, Indonesia, Turkey, Iran, Palestine, and South Korea have all issued clear-text bans on the crypto market, and regulatory thinking and government attitudes have gradually become clear. Even if there is no ban, the review is still underway. South Korea will fully implement market supervision and review, which is expected to continue until mid-July. The Indian government’s policy attitude towards the crypto market has been elusive. Previously, the Indian government had proposed a ban on cryptocurrency, but then stated that it would lift the ban on cryptocurrency. Recently, the regulatory attitude has changed again, and the regulatory policy will be reviewed to discuss whether to prohibit India’s Cryptocurrency trading. In addition, Japan has actively promoted the compliance of cryptocurrency exchanges. There are currently more than 30 licensed exchanges in Japan. Many Asian countries are very active in the deployment of central bank digital currencies. In addition to the advancement of China’s central bank digital currencies leading the world, Japan, Russia, Palestine and other countries have also promoted their own CBDC business.

 2. Unlike Asia’s clearer regulatory attitude, Europe’s attitude towards the cryptocurrency market is relatively relaxed, and a clearer ban has not yet been issued. Some countries hold a positive attitude. Ukraine has issued a revised draft “virtual assets” bill to treat virtual assets. Treated as valuable “intangible assets” legally held by citizens. Some countries are still waiting and watching. Danske Bank, the largest bank in Denmark, said that it will keep an eye on cryptocurrency transactions. The Norwegian government reminds consumers of cryptocurrency scams. The United Kingdom and Spain plan to launch their own CBDCs.

 3. On June 9th, El Salvador, a coastal country located in the northern part of Central America, officially passed the bill with an “absolute majority” vote, making Bitcoin a legal tender in the country. Under the demonstration effect of El Salvador, many countries have successively introduced policies to support Bitcoin. Panama will submit a bill related to cryptocurrency in July, Paraguay also plans to propose a bill to make Bitcoin a legal tender, and the President of Venezuela plans to revive petrocoins in 2021. Other countries like the United States, Canada, Argentina, and Brazil have expressed their attitudes and expressed that they will continue to pay attention to the risks that may be caused by cryptocurrencies, but there is no ban on the overall policy. At present, only Mexico has made it clear that the Americas will continue to ban the use of cryptocurrency in the financial system.

7.8 Unwinding in the morning

BTC-market observation

[Analysts look at the market outlook] Regulatory frameworks in various regions have been clarified one after another, and attention will be paid to breakthroughs in important points in the day

Judging from the four-hour chart, the market continued to fluctuate and change directions this week. The market rebounded before the back pressure line resistance failed to effectively break the position and the market turned empty. Yesterday’s upside 35,000 first-line resistance pressure fell again, and the market was running in a downward channel. The overall trend Too empty. On the disk, the upper resistance is located near 35,000, which is also an important position of the long-short boundary.

Yesterday, the market test back pressure line was under pressure downward, and the upper resistance was suppressed at around 35,000. The lower support is located near the 32700 and 32000 lines. From the disk, the four-hour level trend is generally bearish, and the day-to-day short-selling thinking is the main.

[Analysts look at the market outlook] Regulatory frameworks in various regions have been clarified one after another, and attention will be paid to breakthroughs in important points in the day

See from the 30-minute chart. The market fell sharply in the morning, and the uptrend channel turned into a short-term short-term empty. From the disk, the current top resistance is at 33800 and 34600. As long as the market rebound does not break the resistance of 34600, the downward trend will continue.

The current market fell continuously in the morning and short-term short-term short-term bearishness was obvious. If the market is weak in the next day, focus on the horizontal resistance of 33800 line. The 34600 backpressure line resistance is the key position for intraday long-short conversion.

ETH-market observation

[Analysts look at the market outlook] Regulatory frameworks in various regions have been clarified one after another, and attention will be paid to breakthroughs in important points in the day

Judging from the four-hour chart, the market continued to fluctuate upward in the upward channel, and the overall pattern was bullish. In the morning, the trend fell back to test support near the lower rail, and the disk market once again reached the boundary between long and short. Under the current market, the support is near the 2260 position. If it is held, the market outlook will maintain an upward pattern. If it breaks down, pay attention to the risk of the trend turning empty

Yesterday, the market’s upside resistance near 2400 was under pressure, and the K-line peaking signal turned to adjust on the way up. In the day, the focus is on the fight for lower rail support. 2260 is also an important position of the long-short boundary. This week, the market is facing the test of the market outlook again.

[Analysts look at the market outlook] Regulatory frameworks in various regions have been clarified one after another, and attention will be paid to breakthroughs in important points in the day

See from the 30-minute chart. Yesterday’s market broke through the short-term upward channel and turned into a short-term empty. The disk saw a sharp decline after yesterday’s trend reversed the back pressure line, and the pressure near 2370 was obvious. 2340 in the figure is an important resistance position above, and here is also an important resistance position formed by several recent K-line tests.

The current market is weak, and the 30-minute chart drops to test the support near 2260. From the disk, there is an opportunity for an oversold rebound. If it breaks down here, the big-level trend will turn empty, so in the morning, we will focus on the long-short competition near 2260.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/analysts-look-at-the-market-outlook-regulatory-frameworks-in-various-regions-have-been-clarified-one-after-another-and-attention-will-be-paid-to-breakthroughs-in-important-points-in-the-day/
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