01 Orange view of the trend
Short-term (intra-day): Up
Medium-term (more than two weeks): Up
02 Orange talk about hot spots
Talking about the big drop in the past few days, these days the drop again reflects the vulnerability of the market as well as the degree of bubble, the big cake from the 10th high of 59,500 knife currently fall back to the extent of nearly 30%, from the side to be able to see this more than 10,000 points of the spread is the existence of a certain bubble, and this part may well be Musk related, since the rumor that Musk has sold its holdings of bitcoin after the fake news, the whole market has entered a rapid decline. The entire market has gone into a rapid decline, and the news was actually only speculation until it was confirmed to be false today, the source of which was a message to Musk from a Mr. Whale Twitter account saying, “Next quarter, Bitcoin holders will give themselves a slap on the wrist when they find out that Tesla dumped the rest of their Bitcoin holdings,” Tesla CEO Elon Musk replied to the tweet with the word “Indeed. When the market reaches such a high level, it’s only natural to have a bubble. The amplified interpretation of positive and negative events is what a bull market should look like, and a 30% retracement of the big pie is just a reasonable de-bubble process, and when you think back to the big pie’s ten-year trend, every rise will be accompanied by numerous adjustments, so speculation really needs to be normal, and identification of coin holdings is always the right thing to do.
Then blow V God, yesterday V God will be its wallet of ultra 410 trillion SHIB into the black hole address for destruction, accounting for about 41% of the total supply of SHIB, worth more than $ 7.3 billion, really admire the pattern of V God, SHIB the project’s initial life and death in the hands of V God, V God gave up a huge amount of wealth and choose to keep SHIB well alive. This is really not something ordinary people can do, so I give V God some credit.
In an interesting recent development, PlanB, a famous cryptocurrency analyst, just launched a poll on Twitter, saying “Elon Musk intends to destroy Bitcoin. …… Do you think BTC will reach $500,000, $288,000 (S2FX model) or $100,000 by December 2021? S2FX model) or $100,000 (S2F model), or will it stay below $100,000?” As of now, 12,256 Twitter users have voted, with 8.5% believing the price of Bitcoin will reach $500,000, 22.8% believing the price will reach $288,000, 43.9% believing the price will reach $100,000, and 24.8% believing the price will be below $100,000. Although the recent market is relatively weak, but from the voting results we are still in a bullish mood, but no matter how long the bull market will continue, keep the core assets (bitcoin, ethereum, etc.) and cash are very necessary, the next few months I strongly recommend that you lower the cottage coin position, the coin circle is really not more than who earn more, than who can play for a long time.
I believe there is a lot of code hidden inside. If you are interested, you can find it on my microblogging site, or scan the QR code at the end of the article, and Ms. Candy will pull you into the group or circle.
03 Orange reads the market
BTC: Bitcoin I analyzed last week the probability of not falling below 45500, I did not expect to be hit in the face because of Musk, from the weekly level, it is currently going bad, depending on whether this week can bounce back, if it can not hold near 43000, then the market still has room to go down.
Daily level, from the highest point of 64843 to now, has retraced nearly 31% of points, which is also more common in the bull market retracement trend, the two days to see whether the 43000 mark lost, if the effective fall below, then the market will continue to dip; 4-hour level, below the support 43000 near, if not quickly rebound to 53000 near, this market trend will Continued ink, be prepared for the psychological!
ETH: Ether rally today is good, the overall view is still much stronger than the big pie, this scenario appeared more than once in the bull market in 2017, when the aunt is stronger than the big pie, it means that this market is not reversed, and the aunt is likely to be strong for some time, so this time it is still recommended to build a low position in Ether, from the perspective of medium and long-term value investment, ETH is still the play of the coin circle The core, as long as the market does not appear to be suddenly pulling the plug, ETH is definitely the first choice for asset allocation.
BNB: The fundamentals of BSC and the coin platform are still very good, so when there is a sharp pullback in the general market, it is a good opportunity to increase positions in BNB.
LINK: The link wave is actually quite resistant to falls, the trend is very similar to ETH, so the operation is the same, the leading coins every big fall is an opportunity to build a position.
DOGE: bitcoin in the eyes of Musk, I think really do not ignore the relevance of DOGE and Musk, although the consensus is not a day generated, but Musk for DOGE long-term empowerment this is certain, so it is not guaranteed that two years later DOGE can really exceed the big cake, may be many people are not convinced, but at present no one in the world can have the influence and charisma of Musk, this is a fact, so when there is another DOGE plunge, must do configuration.
FLOW: Although FLOW continues to fall, it still has a lot of medium and long-term good news beside it, such as the NFT exchange of Coinan and Firecoin, ecological construction including crypto cats, UFC, FIFA and other heavyweight IP, listing Coinbase, Binace expectations, etc., so now is definitely a good opportunity to build a position.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/musk-flips-overnight-and-pushes-dogcoin-to-challenge-bitcoin-is-a-new-era-coming/
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