News
1. First line news: the Hong Kong Securities Regulatory Commission issued two important documents: warning on virtual asset futures contracts and position paper: supervising virtual asset trading platform, and was empowered to approve and issue licenses to those who carry out “regulated activities” as defined in the securities and Futures Ordinance.
2. On the morning of November 6, the Guiding Catalogue of industrial structure adjustment (2019 version) issued by www.chinagov.cn has been deliberated and approved at the 2nd Commission meeting on August 27, 2019, and is hereby promulgated and shall come into force as of January 1, 2020. The catalogue for the guidance of industrial restructuring (2011 version) (Amendment) shall be repealed at the same time. It was found that in the first draft, the “virtual currency mining” in the eliminated industry was deleted.
Market Analysis
BTC — BTC has continued to fluctuate between communities since yesterday, and is still hovering above $9300. In the past 24 hours, the inflow and outflow of BTC funds were basically the same. From the perspective of the daily line, BTC started to move up along the 200 day average after stepping back in front of it. After KDJ’s three lines overlapped, there was a trend of upward divergence, and the market has shown signs of stabilizing and rebounding. The upper resistance level is close to US $9500. Yesterday’s tentative breakthrough failed. It is possible to test the resistance area again in the day. Note the $8800 — $9000 range below support. In terms of operation, although the market tends to be long, it is still possible for the main force to deliberately kill and wash the market. The spot can enter the market gradually, but the futures leverage still needs to control the position
ETH — Since yesterday, ETH has continued to fluctuate upward and is now above $190. In the past 24 hours, the net outflow amount of eth funds is close to US $100 million, and the outflow amount of market funds is significantly increased compared with the previous cycle. On the daily basis, ETH has a good trend in recent days. Yesterday, it was also mentioned that with the market gradually stabilizing, mainstream currencies including eth began to rebound. At present, the daily line of eth brin channel is opened upward, and it is expected to further explore the $200 level above in the near future, while the support level below will continue to pay attention to the vicinity of $185. In terms of operation, we should continue to maintain the strategy of bargain hunting, and we should control positions and be alert to risks.
BCH — Yesterday, BCH was in line with expectations. Although the short-term rally was not large, it continued to test upward to walk out of a short-term high. At present, the market in the middle line is still too much. From the technical point of view, the daily line level closed a big positive line all day yesterday, and the quantity is relatively sufficient, and the right side continues to be in a long trend. In 4 hours, after breaking through the resistance level of $300, it will disperse several times, forming a short-term support position here. At present, the breakthrough is stable, and there is still room above. Continue to be patient. Yesterday’s short-term positions in the transaction can continue to be held after the breakthrough is successful, and the operation continues to make up positions in the support position, with the central line operation as the main one.
EOS — Yesterday, EOS retreated slightly to the short-term support position. There was a small net outflow of funds. Yesterday, it was mentioned that we could try to sell high and suck low, but we can wait for the short-term consolidation of positions to be replenished. On the technical side, the daily line level closed the cross line yesterday. The finishing range was 3.5–3.68 US dollars. In four hours, there was support at the neck line. The short line may be mainly shock finishing. Here, the replenishment positions mentioned yesterday can be finished again and so on. Operate the upper middle line to continue to hold positions, while the short line will wait for the consolidation of the disk.
ETC — Etc quickly pulled up and broke through 5.1 resistance level at 12:00 yesterday, but did not stand firm and fell back at 5:00 p.m. currently, it is fluctuating under the resistance level. Regroup and have a chance to break through again in the future. From the daily perspective, volume continues to increase, MACD has the potential to go up. The 4-hour line stepped on the upper part of the middle track of the belt yesterday, but failed to reach the ma30. The strength of many parties is relatively strong. After the breakthrough, the upper resistance is $5.40, then $6.50. In terms of operation, the current rate is about to break up. If there is a callback to 4 hours ma30, it can be considered to make up the next position. To break 5.1 US dollars, we can also consider chasing small orders and multiple orders. At the same time, we should strictly follow the opening price to stop losses in case of failure.
XRP — On the capital side, xrp24 hours’ net capital outflow was about 67 million yuan, with a decrease in outflow amount and a turnover rate of about 8.4%. Yesterday’s XRP market linked to the overall horizontal consolidation, this morning suddenly increased rapidly to pierce the 0.31 dollar position. This morning’s independent upward market has a certain amount of support, short-term bulls are still likely to continue to push upward, with the upper resistance at $0.32, and pay attention to the position of $0.33 after the breakthrough. These two days the market changes greatly, pay attention to risk control. There is still a potential risk of withdrawal in the medium-term market. If the follow-up is weak in these two days, pay attention to the withdrawal after the meeting. In terms of operation, the spot can partially stop the profit, leaving a small position to wait and see; the futures hedging continues to hold, and if the incremental progress in the day goes up, stop the loss in time.
LTC — Yesterday’s LTC market was volatile with trading volume down. In terms of capital, the net capital outflow of LTC in the past 24 hours was 150 million yuan, with the turnover rate reduced to 37%. In four hours, yesterday’s LTC withdrawal intention was not strong, and the overall trading sentiment was not high. At present, the K-line is still near the short-term resistance level. The short-term bull market has the trend of further energy storage. The bull market will continue to explore the resistance level in the day. If it can effectively break through, pay attention to the position of $68. However, at present, the market is in a downturn, and the LTC market needs to be driven by the market, so it is generally possible for a short-term breakthrough to stabilize. At the same time, it does not exclude the risk of re withdrawing and washing the market. Therefore, for the short-term operation, it is not recommended for the time being that the futures leverage trading operation, the futures hedging continue to hold the wait-and-see position, while the cash holding light position wait-and-see position. If it can effectively break through the resistance level, it is appropriate to increase the position.
Conclusion
62 of the top 100 encryption assets monitored by market value rose, with an average increase of 1.09%. 50 encrypted assets are distributed in the range of (0,5%) and 34 in the range of (- 5%, 0). The best 24-hour performance was xtz up 14.15%, BTO up 13.28%, Ren up 13.05%, DCR up 10.78%, BTG up 9.55%; the worst 24-hour performance was abbc down 7.88%, crpt down 7.43%.
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