Market stabilizes after shocks, market sentiment dominates short-term direction

The next iron fist of regulation may fall on the head of the exchange.

After yesterday’s information bombardment, the market is relatively calm today, with relatively little market volatility and a relatively limited rally.

For yesterday’s events, although it seems relatively sudden, but in fact not unexpected, mining and trading were previously named, and in the mining aspect of the withdrawal has been fully implemented in place, the next natural turn to trading, and yesterday’s action is obviously for the OTC OTC, is also considered part of the transaction.

For the current market and investors, the most important and critical thing is that, after yesterday’s storm, the next will experience what kind of difficulties and killing moves, and possible difficulties, what kind of blow to the market, and according to the current situation, the next “knife” may be cut on the exchange.

From some time ago, some large trading platforms are constantly seeking changes, prohibit new users to open the contract through the energy, reduce the highest contract endorsement of old users, etc., are trading platform means of weakness, and after yesterday’s movement, to the evening, there are rumors on the market that a big three announced to withdraw from the Chinese market, although later debunked as rumors, but in a way also shows that want to control on the transaction, trading platform is the most obvious target.

In fact, yesterday that rumor seems to be debunked, but in fact is not an empty cave, the current action of the bank has been laid out, in terms of access to curb the virtual currency trading, the effect first not to mention, but the attitude is very obvious, then if once the decision to limit the exchange, the probability will also continue such an attitude, and the continuation of such an attitude, the probability is a sweeping cut.

But then, in fact, from a long time ago the official has been the continuation of such an attitude, that is, the domestic de-virtualization of the currency, and yesterday the bank’s action was carried out once seven years ago, and not more serious. If the next trading platform is also the same attitude, that is, as long as no trading platform is registered in the country on the line, it depends on whether it will keep such a tacit agreement.

In fact, if a broad-brush approach to trading platforms, it is not necessarily a good thing, if so, then most of the transactions may thus begin to turn underground, which is undoubtedly to further increase the difficulty of regulation, in any case, the next action is likely to still happen on the platform, at the very least, I also hope that the contract business on the trading platform can have a relatively large overhaul.

In addition, in recent times, we must also be prepared for the traditional financial media rounds, that is, after carrying out such a big action, the media will still continue to cooperate, and then perhaps also continue to suppress market sentiment.

Back to the market, yesterday the market lowest back to $ 31,000 near the opening of today’s rebound, the highest when breaking through $ 33,000, but by the afternoon and back to the pace of retracement, the current $ 32,000 again in jeopardy.

From the plate, the short-term trend is still weak, no surprise today will still go to test $ 31,000, or even $ 30,000, short-term view of the plate of the so-called support pressure level function is not strong, the real dominant or market sentiment.

Market stabilizes after shocks, market sentiment dominates short-term direction

Also focus on a set of data from Ether, according to the latest data, the ETH lending massive liquidation price dropped from $1,800 to near $1,600, when the price stays below $1,600, theoretically $224 million worth of ETH will be liquidated, when the price stays below $1,550, theoretically more than $500 million of ETH will be liquidated.

Market stabilizes after shocks, market sentiment dominates short-term direction

Once these ETH appear to be liquidated, that will inevitably be transmitted to the entire cryptocurrency market. The contract really should not be touched during this period of time, ETH pins are still very powerful and will be more powerful when rebounding, so whether it is long or short, the risk of the contract is still relatively large, so it is better to wait and see in recent times.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/market-stabilizes-after-shocks-market-sentiment-dominates-short-term-direction/
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