Bitcoin is not dead, but you’re still fighting it? The truth is that drunk people don’t want to drink! Did you really read the policy?

Yesterday it was said that the announcement of the three associations prompting the risk of virtual currency was only the first punch of the policy combination, and sure enough the second punch from the State Council’s Financial Stability Development Committee came last night.

Bitcoin is not dead, but you're still fighting it? The truth is that drunk people don't want to drink! Did you really read the policy?

01 Orange look at the trend

Short-term (intra-day): up

Medium term (more than two weeks): down

02 Orange chat hotspots

Yesterday also said that the three associations prompted the announcement of virtual currency risk is only the first punch of the policy combination, and indeed last night the State Council Financial Stability Development Committee’s second punch came, to be honest the strength of this second punch is much greater than the first punch, but the degree of panic is much less than the first punch, from a point can be seen, 520 burst amount of about 6.5 billion U.S. dollars, and last night so far burst amount of less than 1.5 billion U.S. dollars, the policy This is the reason for the gradual progress in strength, plus the fact that today Firecoin stopped opening contract trading to domestic users, which also basically shows that the purpose of this policy is to reduce speculative risk, not to block cryptocurrencies. As old leeks know, Firecoin also shut down leveraged trading in early 2017, and the reason is the same.

Also, will there be a third punch? I think so, but this third punch will not be so easy, because from the plate, the first two policies have played a very good effect, the new leeks have basically been scared out of their wits, yesterday’s policy is to crack down on bitcoin mining and trading behavior, now the various non-compliant mines have almost stopped, the transfer of the early have been transferred out, and this trading behavior is actually the trading behavior of the new leeks, the above The above is not satisfied with the inflow of new funds to the crypto market, not the stock of funds in the market. Therefore, the above is much clearer than us about the amount of funds in the cryptocurrency market, just like the real estate market bubble blowing up and the country wants to put out the regulation and control policy.

For example, recently Hong Kong plans to restrict the cryptocurrency exchange services to professional investors, knowing that the policy orientation of Hong Kong generally takes precedence over the mainland, so the future regulation must also be in this direction, restricting ordinary people from The future regulation must also be in this direction, to limit the trading of ordinary people and prevent excessive capital inflow into this market; then say short to medium term, to be honest, short term swing has not been my specialty, and I do not recommend it, and the medium term is really affected by policy and news, such as the combination of the back, the U.S. interest rate hike and tapering quantitative easing, bitcoin ETF expectations, and even Musk’s words will affect the trend of the market, so it is difficult to say the medium term is accurate. The technical line is not that optimistic in the medium term.

Finally, if you want to plunge to choose which projects, the first is absolutely will not die of the two bitcoin, ethereum, then is likely to become the next generation of bitcoin DOGE, again is the DeFi world leader, I choose three UNI, LINK, AAVE, and finally is the leader of each track such as public chain and exchange track BNB, L2 track MATIC, storage track FIL, NFT track FLOW, ICP of the pioneering Internet track, and so on. These are the projects that I think will survive for a long time in the future and capture the most growth dividends of the crypto industry, but of course these are only my personal opinions and not financial advice.

That’s all I have to say today. We’ll be releasing an overview chart of the trending sectors next week, and I’m not sure what they are, but there’s definitely a lot of wealth codes in there! So if you want to be the first to see the new chart, you have to pay attention to Weibo Bitcoin Orange Trader or scan the QR code at the end of the article to join the community.

03 Orange reads the market

BTC: Bitcoin is now no way to analyze the market, all depends on the slogan, last night should be said to be the highest level of negative, but the market does not seem to fall as we think, this is because the 519 time has been released in advance of the negative, last night and then out of the news, the market will not be the same as the first time.

4 hours level, last night the lowest to 33500 after the stop, then began to rebound, but the rebound is very weak, the whole market needs to digest, no news this weekend, that will not be down again, should be another shock upward consolidation trend, and then next week may have a combination of punches, so now suitable for short term, long term layout is still almost interesting.

ETH: eth technical level is not bad, only downward pin, and there is no new low, in view of the uncertainty of the news, the operation is still recommended to continue to wait and see it.

BNB: BNB is stable in the upward, the rebound is very good, which is the reason I have been taking him as a plunge asset top four before, the public chain and Pingtai coin double leader is not a joke, the operation behind is still a big fall big buy, small fall small buy.

LINK: The current position support is good, the operation is the same as BNB.

DOGE: DOGE this wave is actually very resistant to fall, and the animal concept has not been completely killed, the dog is a certain bloodsucking to junk coins, my personal bottoming out of the first four coins.

FLOW: FLOW trend finished very weak, but still in my 12-18 buy range, so still is not the opportunity to build a position, this leading project does not need to look at the short-term line, the medium and long-term good too much, once the market turns, FLOW’s explosive power will be shown.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/bitcoin-is-not-dead-but-youre-still-fighting-it-the-truth-is-that-drunk-people-dont-want-to-drink-did-you-really-read-the-policy/
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