BTC is not showing the strength that it should, what should we do?

The market structure of this cycle has undergone many changes in various fundamental factors due to institutional involvement, and simply looking at the present with the experience of the last cycle is tantamount to carving out a sword.

BTC is not showing the strength that it should, what should we do?

Daily Analysis

Medium and long-term trend forecast

Btc analysis.

When it has just fallen, it is always exceptionally alarming. Even if the timeline is stretched, it is clear that the trend of the market is three retreats and one advance, but placed at the current point in time, each rally always makes people wonder, is the bull market going to continue again.

As if the scum of the word, each time a firm grip on their hearts, knowing that it is just rhetoric, but still deep in it. Each rally invariably gives you some sort of illusion, expectations unrealistically magnified, adrenaline raging, and when the rally ends and continues to fall, you fall into a depressed and pessimistic mood. And so on and so forth, until you realize that “the bear market is really here”, your assets have shrunk by more than 90%, and there is no way back.

I’m not saying that the market is late in the bull market or at the end of the bull market or at the beginning of the bear market, frankly it’s impossible to predict. This round of the market structure due to institutional involvement, in a variety of fundamental factors have changed a lot, simply use the experience of the last cycle to look at the present, is tantamount to carving a sword. The fact is that no one can do accurate bottoming and topping, it is just an obsession and a demon. It is probably more important to grow together with the industry through the bull and bear style.

We’ve been stressing lately that the market is very fragile, and that a blow on the news is enough to cause enough volatility to see that traders in the market are nervous right now. Back to today’s session, bitcoin although re-stepped the 5-day SMA support, and did not show the strength that should be, but rather two consecutive days of crosses closed, today is the mainstream coin brought crash, we are now in a market is visible to the naked eye weak, it is advisable to hold a light position to sit on the sidelines. The most important point that you must keep in mind is the $30,000, it is now very obvious that $30,000 is the watershed for bulls and bears, once $30,000 is occupied by the short, then bitcoin below no longer reliable support, may be a river of blood, staged 312 tragedy. To live long in this market, it is good to be cautious. Support level: 33500, pressure level 38000.

eth analysis.

eth fell below the 120-day SMA support, if it does not close up, there is a short-term risk of a mulligan, it is recommended to continue to hold a light position and wait and see. Support level 2100, pressure level 2450.

bch analysis.

bch persistent negative decline, the 5-day SMA has gone down, it is difficult to have a good market in the short term, we recommend a wait-and-see bar. Support at 500, pressure at 600.

bsv analysis.

bsv shrinkage down, the active downward consciousness is not strong, mainly brought down, we suggest to continue to refer to the above chart in the support of low suction hold, fall below to reduce positions. Support level 150, pressure level 170.

LTC analysis.

ltc temporarily do not in 150 low suction, we suggest first wait and see, the 5-day SMA has gone down, the risk of short term pullback is relatively large. Support level 150, pressure level 170.

link analysis.

link persistent negative decline, there is no sign of improvement, the average began to gradually short alignment, short-term continue to adjust the probability of great, it is recommended to hold a light position on the sidelines. Support level 19.0, pressure level: 23.0.

sushi analysis.

sush should not be involved after losing $10 support, which we have been emphasizing, the short term continue to see a pullback, it is recommended to wait and see no operation. Support level 7.0, pressure level 9.0.

ada analysis.

ada5-day SMA, 10-day SMA and 30-day SMA have started to go down, fell below the 120-day SMA support may fill down, we recommend controlling the risk, reduce the position wait-and-see. Support level 1.3, pressure level: 1.5.

xrp analysis.

xrp we have recently been prompted by the middle rail of the Bollinger band suppression dead, continue to adjust more than the rise, the negative trend has no signs of improvement, we recommend continuing to wait and see it. Support level 0.75, pressure level 0.86.

zec analysis.

zec negative decline, the average line has begun to go down, the probability of short-term continued adjustment is greater than the rise, we recommend holding a light position wait and see it. Support level 110, pressure level 130.

xtz analysis.

xtz linked to the broader market, weaker than the broader market, the indicators show that the short-term adjustment has not yet ended, we recommend a temporary wait-and-see bar. Support level 2.75, pressure level: 3.25.

dot analysis.

dot shrinkage adjustment, the good did not fall to continue to look good, a small drop in small buy, a big drop in big buy. Support level: 19.0, pressure level: 22.0.

uni analysis.

uni fell below the 200-day average support, the average line gradually hollow arrangement, the probability of short-term continued adjustment is relatively large, we recommend continuing to light position wait and see. Support level: 18.0, pressure level: 22.5.

Daily Currency News
Daily Hot News Explanation

The KSM has rocketed in the past few months, from about 50U at the beginning of the year to a high of nearly 625U, all because the Kusama slot auction required a lockup of KSM, resulting in a scarcity of KSM. scarcity. Currently, the Kusama network is expected to conduct 5 auctions, each 7 days apart, with further auctions to follow only if no major problems are found. The schedule will be structured as follows.

June 15, 2021, 12:00 GMT (Beijing time: June 15, 20:00 pm): The first Kusama parallel chain slot auction begins. Bids can be placed.

June 17, 2021, 09:00 GMT (Beijing time: June 17, 17:00 pm): The first Kusama Parallel Chain Slot Auction random end period begins. Only bids made before this time will definitely be taken into account in the final result. The likelihood of bids made after this time being considered decreases linearly.

June 22, 2021, 09:00 GMT (Beijing time: June 22, 17:00 pm): The first Kusama Parallel Chain Slot Auction bidding ends. After this time, no bids may be placed on this auction.

June 22, 2021, 11:00 GMT (Beijing time: June 22, 19:00 pm): The first Kusama parallel chain slot auction winner is selected. The auction winner is determined to be the highest bidder at a randomly selected point in time within the last 5 days.

June 22, 2021, 12:00 GMT (Beijing time: June 22, 20:00 pm): Second Kusama parallel chain slot auction begins.

June 29, 2021, 12:00 GMT (Beijing time: June 29, 20:00 pm): Third Kusama parallel chain slot auction starts.

July 6, 2021, 12:00 GMT (Beijing time: July 6, 20:00 pm): The fourth Kusama parallel chain slot auction begins.

July 13, 2021, 12:00 GMT (Beijing time: July 13, 20:00 pm): The fifth Kusama parallel chain slot auction begins.

As of now, in the future public chain landscape, only Poca has the strength to compete with Ether, while Coinan Chain Firecoin Chain and Ether are not a class opponent, which will make the survival of these two centralized public chains difficult after Ether’s short-term layer2 is completed. But Boka is different, if Boka develops well and this sports car runs up, it will indeed pose a certain threat to Ether, just like Android and Apple system now, it will form two strong patterns. The slot auction should be officially opened in the next few days, and the heat of Boka has lasted for so long that it will be officially launched soon to see the performance. If there is indeed no big problem in the construction of ecology and parallel chain docking, then it is an honor and misfortune that Ether will have one more strong opponent.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/btc-is-not-showing-the-strength-that-it-should-what-should-we-do/
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