Morning Analysis on 9.18!
BTC
Although Bitcoin has recovered the decline since September 8th, from the market perspective, the risk has not been completely eliminated. In the short term, it needs to stabilize above the 28000 level to be considered resolved; otherwise, it will continue to fluctuate and adjust.
Currently, the 24-hour trading volume continues to decline, and confidence and emotions still need to continue brewing. The support below the 4-hour level is around 26000. After the interest rate decision is announced this week, it will be accompanied by a period of information vacuum for over a month, and the market will gradually react at that time. So it is estimated that the market will also give a direction this week, and we wait and see.
The ma200 line has been the focus in recent days. For the first time in over a month, the weekly line closed with a positive trend, but the bulls are just catching their breath. The pressure is heavy above 2.72, so pay attention to the breakthrough direction of the upper and lower structures. The key position for the day is still around 2.62. A weakening trend is below 2.62. Currently, the trading volume has not changed, and it is more about the volatility of liquidity depletion.
Summarizing the Market News
First
BNB finally ushered in an epic upgrade
It officially launched its own Layer 2 expansion network, which achieved an astonishing transaction speed of 4000 transactions per second, over 300 times the current TPS of Ethereum.
Like when V God came up with Ethereum, Zhao Changpeng came up with BNB Chain to compete in the market. Now that Ethereum has introduced Layer 2, Binance is not to be outdone and has also introduced one.
Don't underestimate this model, Tencent started out this way, and in the end, as everyone has seen, it has become the leader in the industry.
So this upgrade of BNB Chain is absolutely crucial, because this 4000 TPS speed can meet the needs of most online games running on the chain. I see that there are a lot of blockchain games in the projects they have invested in.
When the bull market arrives, these games running on their Layer 2 will attract various gold farming groups, making it easy to skyrocket various data and thus increase their valuation. (You can consider supporting it with a small position)
Second
On the 19th, there will be a hearing between Binance and the SEC, a piece of news that many people have not paid attention to.
If there is a black swan event in the next half year, the lawsuit between Binance and the US government agencies is the most likely.
In summary, short-term bearishness, but not shorting. Wait for the risky events to pass and then look for good positions to go long!
(Also, there is the Fed meeting on the 21st, along with a speech by Powell)
Conclusion
This week's perspective, early this morning, both the overall market and altcoins experienced a drop, including TRB, most of them plummeted, and the train of thought is basically correct!
This week, focus more on the overall market! Perhaps there will be unexpected surprises! There are opportunities everywhere in the current market. Whether you can see them and how many you can see depends on individual abilities! (For those who are not satisfied with their own operations, you can follow along)
Probability for this week: Increased volatility, focus on opportunities in the overall market! The trend this week is extremely important, so be patient!
In the crypto industry, if you want to seize the opportunity of the next bull market, you need to have a high-quality circle, where everyone can huddle together and maintain insight. If you are alone, looking around in confusion and finding no one, it is actually very difficult to persist in this industry.
If you want to huddle together or have any doubts, feel free to join us - Official Account: Crypto Wufan
Thank you for reading. If you like it, please give it a thumbs up and follow us. See you next time!
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