The coin circle for a long time to default universal rise, negative dissipation finally see the light?

Bitcoin is still a shaky market recently, and the overall rebound is not strong.

The coin circle for a long time to default universal rise, negative dissipation finally see the light?

1、Market news interpretation

June 1 overnight keywords in the news:: Denmark, English, Mentor

Denmark’s Saxo Bank announced the addition of five new blockchain and cryptocurrency companies to its cryptocurrency-themed fund. This includes the recently listed Swedish cryptocurrency exchange Safello group, as well as Northern Data, Quickbit, Taal Distributed and Digihost. 23 companies with a total market cap of $97.7 billion are now included in the fund. Coinbase, Microstrategy, and Signature Bank and other well-known companies in the industry are also covered.

Interpretation: Under the days of bearishness, Denmark is one of the few banks that has taken the initiative to include cryptocurrency companies and blockchain in its main fund under the sovereign government. The Danish bank’s move is undoubtedly a boost to cryptocurrency funds at a time when regulation is intensifying around the world, and as the saying goes, if there is one, there will be two.
The RBI issued a clarification circular on Monday, stating that commercial banks should not cite a lapsed April 2018 crypto banking ban to deny services to customers involved in digital asset transactions. In the circular, the RBI said, We are aware of media reports that some banks/regulated entities have warned their customers against virtual currency transactions by quoting a central bank circular dated April 6, 2018. The quotation of the said circular by the banks/regulated entities is not justified as the circular was quashed by the Supreme Court on March 4, 2020. Despite the clarification circular, the RBI did not explicitly ask banks to resume services for cryptocurrency exchanges and reiterated that banks should ensure the necessary compliance.

Interpretation: The RBI’s clarification notice, although there is no further action, is at least full of positive meaning, at least it gives some clarification on the current actions of the domestic commercial banks and makes an explanation on the legal level, which can also be seen as the first step to lift the ban, which can be considered as a real positive in the current external environment. Here you need to pay attention to the next move of the domestic commercial banks in India, once the ban is lifted will actually ferment as a positive.

On May 31, the defunct Japanese cryptocurrency exchange Mt. Gox made an announcement that the online system for recovery claims went live with a voting function. The deadline for online voting is Oct. 8, 2021. Mt. Gox, once the world’s largest bitcoin exchange, was reportedly shut down in 2014 due to theft and filed for Chapter 11 bankruptcy, with creditors waiting for years to be paid off. After receiving several extensions, Mt. Gox bankruptcy trustee Nobuaki Kobayashi submitted a draft rehabilitation plan to the Tokyo District Court on Dec. 15, 2020, and a revised version was filed on Feb. 15 of this year.

Interpretation: The Mt. Gox incident can be described as a series of twists and turns. 7 years have passed since the bankruptcy was filed in 2014, and each liquidation or payout has encountered different problems with the postponement, and this time it is a familiar revised version, whether the real payout will also affect the coin circle, after all, the Mt. Gox incident involves a huge amount of tokens, which once released to the market will inevitably cause an impact.

2、Coin Analysis

BTC

Bitcoin is still familiar with the oscillating market recently, although the bottom has rebounded, but the overall rebound strength is not much, always frozen in a small range in the oscillation, the disk does not have any coherent quotes appear, the range still needs time to make a breakthrough.

As for the over-the-counter news market is still more on the old few, the only variable is whether the RBI’s affirmation can change the commercial banks’ doings, thus creating a new round of actual good appearances, which cannot be fully explained at this stage, and will need time to change.

And the K-line among the top and bottom positions that need attention continue to be unchanged. The top pressure level is at 38,000 and the support level is at 32000.

ETH

Ether led the rise in the day for a long time, directly broke through the two days of concern about the top pressure level in the area, according to the established ideas to choose more single follow up, the current offer is in the cost price oscillation, here is still no need to rush, Ether compared to the rest of the coins, the field comes with the project good, here do not have to entangle too much, take the established chips to focus on the day correction of the key position can be.

The pressure level: 2800. support level: 2450.

EOS

Yuzi yesterday arranged to bring a good 6 a line of tracking continuation hold can be. Then since the release of yesterday’s article, Yuzi offer always remain above 6 U.S. dollars, here the same do not have to be too nervous, after all, the overall intraday market is still in the general up stage, there will be a certain amount of upside space, here a slight adjustment tracking to 6.2 a line, the rest of the concern points remain unchanged.

Intraday attention to the pressure level: 7.5. support: 5.8.

  1. Summary

The overall coin circle today has a long-awaited general rise in the market, nearly 90% of the coins in the plate have risen to varying degrees, the field based on a series of negative to positive news changes secondary party has appeared this round of general rise.

Although the overall upward trend of the intraday market is quite pleasing, and to a certain extent into the confidence of the market, but here I personally have to splash a cold water, nowadays the biggest shortcomings of the field also on the regulation is not resolved, but countries sovereign one after another in the follow-up or tightening regulatory strategy, which for the field will cause too much wait-and-see chips appear, and the most important is to follow the nature of the dumping chips.

And the key point is that the leading bitcoin K-line pattern, maintain a weak rebound situation, the overall volume level in did not keep up, the lack of funds rising like a tower in the air, the foundation is not solid. So this time period up is good, but can not blindly. Short term to short term, medium and long continue to maintain a more conservative thinking, not too aggressive!

4, small coin layout inventory

UNI: fill the position with reference to 10-15 a line The current average price in 25 a line.

FIL: cover reference 30 a line current average price in 80 a line.

DOT: Covering reference 10 a line The current average price of 27.5 a line.

OMG: Covering reference 2.3 a line The current average price is 5.5 a line.

HT:Coverage reference 6-8 a line The current average price of 20 a line.

LINK:Coverage reference 10-13 a line The current average price of 28 a line.

SHIB: Covering reference 0.000003 a line Current average price 0.0000125 a line.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/the-coin-circle-for-a-long-time-to-default-universal-rise-negative-dissipation-finally-see-the-light/
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