IDAX Research Center : Daily Analysis of Cryptocurrencies 20191105

News
On November 4, Roger ver announced on Facebook that he would send BCH worth $5 to all his Facebook friends to expand the adoption of BCH. Roger ver said the $5 BCH could easily be worth $5000 one day. For people who are not Facebook friends, ver still promises to send them $1 BCH, and ver requires interested parties to post a BCH address below their Facebook posts. (CoinTelegraph)
2. In October 2019, Beijing government departments launched the first online data sharing process relying on the “directory blockchain”. The Municipal Water Affairs Bureau shared the data of “construction land planning license” and “construction project planning license”. The application, authorization, confirmation, sharing, use and other links were automatically implemented under the control of “directory blockchain” and completed within 10 minutes. (Beijing News)
Market Analysis
BTC — BTC rose rapidly in the early hours of this morning, reaching a maximum of $9645, now falling back to around $9400. In the past 24 hours, the net outflow of BTC funds is close to US $50 million, and the outflow of market funds is significantly increased compared with the previous cycle. BTC made a tentative pull in the early morning to test the upper resistance. In terms of the 4-hour line, the overall volume is not obvious, and the follow-up strength is insufficient, and the breakthrough is not successful. The domestic market is still dominated by shocks, and may withdraw again after the failure of short-term breakthrough to prepare for the next round of offensive. The upper resistance continued to focus around $9600, while the lower support continued to focus on $9000. In terms of operation, it is suggested to control the position and wait for the right opportunity to build the position.
ETH — So far, ETH has risen slightly under the influence of the market, reaching a maximum of $190, and now falls to around $186. In the past 24 hours, the net outflow amount of eth funds has exceeded US $20 million, and the market outflow amount has increased compared with the previous period. On the 4-hour line, ETH rose slightly in the early morning, but retreated near $190, with little overall increase. At present, ETH does not break through the shock range, and the main force is still not clear, but in the medium-term trend, we still believe that it is more long-term. At the same time, with the coming of Ethereum 2.0, long-term holding eth will be a good choice. In terms of operation, we should continue to keep the strategy of bargain hunting, and reduce positions and avoid risks properly.
BCH — It was mentioned yesterday that BCH had a double needle top. In the short term, the market rose yesterday while BCH did not have a big fluctuation, which shows that there is some pressure above the short term. From the technical point of view, the daily line level is currently at a high level of consolidation, and it is possible to continue to withdraw the lower support interval in a short time. In the 4-hour level, there is a small triangle in the short-term. If the price of Weisi is in a small fluctuation range, you can try to enter the short-term market to make more money. If the breakthrough fails, you can close the position and leave the market. The upper middle line of the transaction continues to be long, while the short line focuses on whether the intraday price can remain stable and considers short long operation.
EOS — Yesterday, it was mentioned that EOS short-term still has support. With the market rising slightly, the short-term needs to pay attention to the situation of market upside and continue to hold the middle line position. From the technical point of view, the daily line level appeared the situation of quantitative amplification yesterday, with a large pull-up range but did not break through the front high position. If the short line continues to rise, the band operation can be considered to throw high and suck low. The 4-hour level of short-term return saw support around $3.35. In operation, the center line is the main holding position, and the space above the short line is expected to be small, so high throwing and low suction can be selected in the upward direction.
ETC — Etc broke through the rising triangle for a short time yesterday and returned to it in the afternoon. We also adjusted the lower support of the rising triangle. Technically, after the etc stands for 4 hours and ma30, it slightly rises at 4 a.m. Up to $5.04, it’s going back. As seen from the 4-hour line, it continues to be supported by the 4-hour ma30, with daily trading volume slightly increased. At present, we have come to the end of the rising triangle. Pay attention to the ma30 support below in the day. If we can continue to stand firm, we will soon usher in an upward shock wave. In operation, the ma30 support close to the bottom can ambush a small number of orders, pay attention to the lever and stop loss.
XRP — On the fund side, XRP 24 hours’ net capital outflow decreased to 140 million yuan, and continued to be dominated by net small single cash arbitrage, with a turnover rate of about 8%. XRP market was up in shock yesterday. It has broken through to around $0.305 at present. It can’t be too much. It can be as long as it can. Yesterday, I said that the swel conference of XRP will probably cause a correction in the market, and there will be certain pressure on the short-term bull market. However, according to the increase in the previous two weeks, the correction should not be too large. Short term dynamic indicators tend to be long, and there is still a possibility of upward trend in the day, but the upward pressure is large and the increase should be small. However, we still need to pay attention to the long upside to lure more market, not rush to catch up, the rising trend needs more quantitative follow-up. In terms of operation, at present, the rebound capacity is average, and a more prudent approach can reduce the position appropriately, and increase the position appropriately after the increment breaks through the resistance level.
LTC — Yesterday’s increase in LTC market, now near the recent high. In terms of funds, the net inflow of LTC funds in the past 24 hours was 150 million yuan, and the turnover rate rose to 45%. In four hours, yesterday’s LTC led the rise of the mainstream currencies, but the increase in volume is relatively general. At present, there are many short-term indicators, and there is still the possibility of upward exploration of resistance level in the day. If we want to break through the resistance level, we need more volume to follow up. At present, the market is still volatile in the short term, so the possibility of LTC breakthrough in the day is general, and the linkage market is mainly, but after the incremental breakthrough, it is expected to see around $68. In terms of operation, if there is no upward movement in volume due to late retreat in the day, the position can be appropriately reduced to wait for the incremental breakthrough, then the position can be appropriately increased, and the profit stop and loss stop point can be set.
Conclusion
At 4 a.m., bitcoin rose rapidly, reaching $9500 at one time. It is now fluctuating near $9400, temporarily reporting $9372.41, up 1.83% in 24 hours. In addition, XLM broke through $0.08, up over 17% in 24 hours due to the impact of the destruction news. In addition, both LTC and EOS have increased by more than 5% in the past 24 hours.
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