IDAX Research Center : Daily Analysis of Digital Currencies 20191118

Nov 18, 2019 · 6 min read


  1. The 21st China International hi tech fair closed in Shenzhen on the 17th.With a total area of 142000 square meters, 3315 exhibitors participated in the fair, displaying 10216 high-tech projects, including artificial intelligence, smart home, intelligent manufacturing, Internet of things, intelligent driving, 5g business, 8K Ultra HD, blockchain technology, emergency security and other fields.
  2. Andrew Yang, a Chinese American presidential candidate, recently outlined how he plans to regulate the cryptocurrency industry.Cryptocurrencies and digital assets have created a lot of economic activity, and the government’s response has been lagging, he said.Other countries that are ahead of the US in terms of regulation are leading this new market and setting rules to follow once the US catches up.He promised to promote legislation on the crypto asset market by defining what tokens are and how to distinguish between tokens and securities.
  3. Yao Qian, former director of the digital currency Research Institute of the people's Bank of China and general manager of China Securities Depository and Clearing Co., Ltd., told reporters that the central bank’s cryptocurrency (CBCC) is one of the important research and development directions of the central bank’s digital currency, and the research starting point of the Central Bank of China is CBCC.Yao mentioned earlier that the prototype concept of China’s legal digital currency needs to fully absorb advanced and mature international knowledge and experience, and deeply analyze the core technology of digital currency.He said that at present, most of the central bank digital currency experiments carried out by various countries are encrypted digital currency experiments based on blockchain technology, but they are still in the wholesale (institutional) application scenario.He also said that the digital currency prototype system explored the application of blockchain, but did not fully rely on the technology.In addition, Yao also explained the difference between the encrypted currency and the third party payment. Alipay’s data transmission process is dense, which does not mean that it is an encrypted currency.There is a fundamental difference between the two accounts system. If Alipay technology is compared to 4G, payment through encrypted currencies is more like 5G.

Market Analysis

BTC — BTC fell briefly yesterday, rebounding after falling to $8368 at the lowest level and falling after hitting $8620 at the highest level.In terms of capital flow, the net inflow in 24 hours was 3 billion yuan, a significant increase over the previous day.On the 4-hour K-line, the slope of the downward trend rate is slowing down, the trading volume continues to shrink, and the volatility has also dropped to a new low in recent years.At this stage, the disk support and pressure are weak, only part of the energy is needed, and it is easy to pull up. It is not difficult to break through the pressure of 8600 and 8800 dollars, and 9000 dollars is the strong pressure level.But it doesn’t make much sense to pull it up. The market information hasn’t been restored.The overall trend is roughly between $8400 and $8600.In terms of operation, the spot continues to hold, while the futures are not recommended for operation.

ETH — Eth has been up slightly since yesterday, and now it's around $180.In the past 24 hours, the net inflow of eth was RMB 1.4 billion, basically the same as yesterday.Technical point of view, 4-hour level KDJ gold fork, but the third line has signs of bonding, MACD gold fork, the market is still around the interval channel shocks.Resistance was at $187, while support was at $178.In terms of operation, the spot eth can continue to increase positions on the basis of bargain hunting, and the futures will not move for the time being.

BCH — BCH fluctuated in the consolidation range yesterday, upgrading the box support with bitcoin falling below 270 the day before yesterday, but failed to recover the box body yesterday, the trend is relatively weak, and it will take a while for the short-term consolidation to have the possibility of breaking through and reversing.On the technical side, the daily level trading volume continued to be low yesterday, the daily line closed down the cross star, the top first pay attention to the downward pressure of ma10.The 4-hour MACD fast and slow lines have a golden fork trend, and the KDL golden fork three lines are distributed upward.Short line fast in and fast out.In terms of operation, the spot remains on the sidelines, and the futures suggest short short short operation at the high point.

EOS — After yesterday's slight decline in EOS, the short-term rebounded. However, from the perspective of rebound strength, it is still weak. The short-term is still the same as yesterday. You can try short and short operations, and the middle line remains to be observed.From the technical point of view, the middle track of the brin line channel is still an important resistance position for a short time after the middle track position is tested above the daily line level and then retreated.The 4-hour rally is weak, and the short-term market volatility is slightly short, with the support of $3.3 below.Colleagues pay attention to the overall situation.In terms of operation, the central line market temporarily remains on the sidelines, short-term air operations near the resistance level.

ETC — After the etc broke through the parallel rising channel yesterday, it rose rapidly, and now it has fallen sharply.Technically, the K line failed to stand on the middle track of the brin belt for 4 hours, and began to fall back. The brin belt continued to shrink.The 4-hour average system showed a short spread.On the daily line, MACD still swoops down, and the risk of short-term decline still exists.See $4.50 for lower support and 4.72 for upper pressure level.In terms of operation, the spot position can be increased below $4.6, and the futures position can be light and single near the support point.

XRP — XRP market yesterday around 4 hours in the track of finishing the Brin, the brin belt narrowed, the trend is low.On the fund side, the net outflow of xrp24 hours was about 143 million yuan, with a turnover rate of 6.9%. The overall situation basically maintained the level of the previous cycle.In recent years, the market has been generally fluctuating downward, generally still following the normal correction of the market, and the effective support position below is 0.25 US dollars.At present, in the 4-hour chart, both the average and the dynamic index MACD have the trend of gold forks rising. The domestic market is likely to rebound, with a rebound resistance level of $0.27. If the rebound strength is insufficient, the short-term market may go down again to test the lower support level of $0.25.In terms of operation, keep waiting for the spot, wait for the lower support to stabilize, and then gradually increase the warehouse or enter the site.It is not recommended to operate in futures for the time being.

LTC — Yesterday afternoon, the LTC rose close to the resistance level of $60, but several breakthroughs failed.In terms of capital, the net capital outflow of LTC in the past 24 hours was about 120 million yuan, with a turnover rate of 30%.Yesterday’s bullish up potential energy is insufficient, but the short-term bullish in wait-and-see, did not volume down, short-term bullish see whether to continue to break through.At present, the K line is still above the middle track of Brin, and the dynamic index MACD continues to rise. The short-term market is likely to rise. The upper resistance range is between 61–62 US dollars.If the upward breakthrough is blocked, the subsequent market may wash down again.In terms of operation, the spot continues to hold the wait-and-see position, waiting for the overall market to stabilize before operation.


The Ti index, which reflects the overall performance of the blockchain industry, rose 2.24 points, or 0.35%, from the same period yesterday, to 647.64 in Beijing time on November 18.In addition, among the 25 subdivisions closely watched by token insight, the industry with the highest growth rate in 24 hours is the asset securitization industry, with an increase of 11.22%; the industry with the highest decline in 24 hours is the artificial intelligence industry, with a decrease of 2.04%.

According to the monitoring, the 24-hour trading volume of BTC is $18.6 billion, the number of active addresses is 12.96% lower than the previous day, and the number of transfers is 5.81% lower than the previous day. Jeffrey, an analyst at coinwalle, believes that exchange traffic continues to shrink, new sentiment is at the bottom of nearly March, and may continue to adjust in the short term.

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