Although the business management department of the central bank once again issued a warning about the risk of virtual currencies last night, which led to a short-term downturn in the crypto market, the decline was not very large, and the market began to sort out and rebound slightly afterwards. As of 11 am today, the BTC perpetual contract quoted on Huobi Exchange is $34,262, a decrease of 0.48% compared to 24 hours ago.
According to the analysis of Ouyi OKEx investment research, yesterday BTC briefly surpassed the 35,000 mark and failed to retreat to around 33500 for consolidation. From the perspective of trading volume, the long and short sides continue to be evenly matched. Many troops can’t pull, and the Air Force can’t break it. However, as the bad news is gradually being digested by the disk, the trend has been clear and has successfully bottomed above 29,000. It is difficult to determine the time for the main force to continue to absorb. Based on the current global capital market environment In the coming days, the main funds may be waiting for a good wave. They will use the momentum of the news to raise the price of the currency and break the bottom consolidation zone. Before that, the trend still has a false downward break pattern to clean up the volatile retail chips. Investors will continue to pay attention to the 32700 support in the short-term. If it does not break, the long and short will continue to be anxious, and if it breaks, the short will strengthen in the short term. On the contrary, if the volume exceeds 33600, it means that the bulls have signs of starting, and they can allocate positions to enter the market as appropriate.
ETH took advantage of the London upgrade and the positive stimulus of the deflationary economic model, and the currency price showed a strong trend. Support can be paid to 2260 and 2180. Resistance is seen near 2390 or even 2500. SOL short-term pressure is at 35.8, and support is located near 32.6. DOGE maintains a weak pattern, resistance can temporarily focus on 0.2405, support can continue to focus on 0.2258. SHIB support can pay attention to 0.00000846, and resistance pay attention to 0.00000932.
According to data from the international third-party statistical agency CoinGecko, the 24-hour contract transaction volume of the Ouyi OKEx platform is USD 13.1 billion.
Huobi Research Institute:
According to data from Huobi Global, BTC briefly broke through 35000USDT last night. The resistance at this position was relatively high, and the price quickly pulled back to around 34000USDT. At present, BTC has entered a sideways consolidation phase, and the trading volume is relatively sluggish. From the daily level, BTC has ushered in two consecutive positives, but the increase is not large, and the upper resistance is strong.
Looking at the four-hour level, the K line was basically below EMA20 last night, passing through EMA5 and EMA10 back and forth, the three EMAs tended to be flat, and EMA5 and EMA10 tended to coincide. From the perspective of Bollinger Bands, the K-line is located between the middle rail and the lower rail, and is close to the middle rail. The three rails tend to be flat, and there is no trend of enlargement or reduction of the opening. In the future, the short- and medium-term prices may continue to move sideways. DIF continues to stay below DEA, both are negative, but the absolute value is small and tends to be flat, the market may continue to sideways for a period of time. In the afternoon, continue to pay attention to the changes in trading volume and the breakthrough of 35000USDT above and the support situation of 33500USDT below.
According to data from Huobi Global, ETH fell rapidly last night, as low as 2254.16USDT, and then rebounded. It is currently trading sideways for a short period of time at 2320USDT, and the trading volume has increased after a short period of time. From the daily level, ETH received two consecutive positives, which basically reversed the previous day’s decline. At the four-hour level, the K-line is always above EMA5, EMA10 and EMA20, and the three EMAs move up steadily. From the perspective of the Bollinger Bands, the K line is continuously located between the middle rail and the upper rail, close to the upper rail, and the three rails are upward at the same time. The opening of the Bollinger band has no obvious change. In the early morning, DIF crossed DEA to form a golden cross, both were positive, and the upward momentum increased. In the afternoon, continue to pay attention to the changes in trading volume and the breakthrough of 2400USDT above and the support of 2250USDT below.
In terms of contracts, the big data of Huobi Contract showed that the open interest of BTC contract decreased slightly, the trading volume decreased slightly, and the contract market was not active. The basis of delivery contracts dropped slightly.
ETH contract open interest increased slightly, trading volume decreased slightly, and the contract market was not active. The basis of delivery contracts rose slightly.
According to Gate.io contract transaction data, as of 10:20 on July 07, the BTC/USDT perpetual contract price was 34,102.70 US dollars and the spot price was 34,099.14 US dollars. The price of the perpetual contract was rising compared with yesterday by +1.03%. BTC/USDT perpetual contract funding rate (only settlement every 8 hours) is 08:00 (0.0001), and 00:00 in the previous period is (-0.000208).
The long-short ratio of the BTC/USDT perpetual contract within 30 minutes is 50.04%: 49.96%. In terms of holdings and transactions, the total holdings reached 23,721,604 USDT, and the trading volume in the past 24 hours rose to 512,658,006 USDT. From the 30-minute line, during the rise of the BTC contract price yesterday, due to policy suppression factors, it began to decline sharply near the breakthrough of 35,000 US dollars, but finally gained strong support and began to rebound. Currently, it rebounds to 34,000 US dollars. The MACD indicator has a golden cross warning signal in the morning, and the two lines continue to diverge upward. It is more likely to cross the zero axis in the short term, and the rebound is in a good form. But on the whole, the candlestick chart at this stage, due to the fierce short-term long-short competition, the long upper shadow line and the long lower shadow line appear alternately, the two sides are not willing to chase the field energy, and the short-term market enters the grid trading. The operation strategy is at a better stage, but the market direction selection prompt is not strong. Please pay attention to control risks during operation.
Contract market data:
1. Trading volume and open interest of each exchange:
2. Long-short ratio of the number of positions held on major exchanges
The ratio of OKEx long and short positions:
Binance long-short position ratio:
Source: Contract Emperor
The price of BTC stopped falling after the fall, and the long-short ratios of OKEx and Binance also started to rebound. Binance’s long-short ratio rebounded even more sharply.
3. Long-short ratios of open interest on major exchanges
OKEx Elite long and short average positions:
Long-Short Ratio of Big Binance Accounts
Source: Golden Fruit
Long-short ratio of Huobi Elite holdings
Source: Golden Fruit
The elite positions of the top exchanges show the differences among investors when the market fluctuates. The position pattern of the three exchanges has not changed much. The elite positions of OKEx and Binance are dominated by long positions, but the long position of Okex is shrinking; the elite positions of Huobi continue to be controlled by short positions.
Marshall Wace, a $155 million hedge fund, began investing in cryptocurrencies and stablecoins.
2. The Vice President of Iran recently stated that Bitcoin miners must completely stop production.
3. Survey: 82% of surveyed institutional investors expect to increase their exposure to cryptocurrencies in 2023.
4. Italian law firms and the Swiss Blockchain Alliance filed a class action lawsuit against Binance.
5. Candidates for directors of the Brazilian Securities Commission: The Brazilian Securities Regulatory Commission should “special attention” to crypto assets.
6. The balance of Ethereum 2.0 pledge addresses exceeds 6.2 million.
7. The developers of Ethereum proposed to activate the mainnet of the London hard fork on August 4.
8. Media: The global digital currency boom is heating up, and the digital renminbi accelerates to lead the way.
9. Alabama Congressman Barry Moore has bought DOGE, ADA and ETH.
10. Tesla faced up to $100 million in Bitcoin impairment losses in the second quarter.
11. The British bank Nationwide reviews its cryptocurrency policy.
12. German digital bank N26 is working with crypto exchanges to develop new trading functions.
13. BlockFi will launch its Bitcoin reward credit card.
14. The fair value of Bitcoin’s purchase by Meitu has decreased by approximately $17.3 million.
15. Australian crypto companies lobby the government to establish a clear regulatory framework for the crypto industry.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/contract-daily-resistance-is-ahead-btcs-volatility-is-getting-smaller-maybe-the-inventory-is-coming-soon/
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