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Gate.io AMA - Realtime Analysis, Jan,21st
08 March 17:06
Q: Hi, it's time for weekly analysis again.
A: Thank you and let's check it out.
- Record time 10AM BKK.
1.Major coins
- BTC
-
1M/1W/1D
All downtrend.
From 1D pattern, volume dropped a lot.
For long term, still Short direction.
-
1D/8H/4H/1H
All downtrend.
From 8H/4H, there are long solid bearish candlesticks showing the price is dipping down.
From 1H, the downtrend accelerated lines have been generated, almost till the bottom. As the volume goes down, the trend may go to the end.
-
From Fib Retracement
Till yesterday, still in the rectangle trend doing the sideways.
From this early morning, it broke out the support.
The trend is down.
Volume is going down, as well as MACD.
Price has dropped around 11.43%.
Summary:
- The 5.7 million bitcoins currently in circulation are at a loss, basically trapping all short-term investors. The total number of bitcoins in circulation in the market is about 7-8 million. If these are not sold, the market will rebound.
- After the drop till the end, then it may go to channel sideways if there's no significant increase.
- The short-term selling pressure is getting smaller and smaller, and the change is coming, and the uptrend probability is greater than 70%.
- Find a entry now, still can get profit from Short direction. But as downtrend is almost till the end, place a short position for short term.
- When there's the bullish reversal signal, let's expect the good rebound.
2.Let's check out ATOM as altcoin.
- ATOM
-
1M/1W/1D
From three patterns, basically it is uptrend.
There's the long upper wick from 1M pattern, which shows the buying power is not strong enough.
The volume is going low, then even the uptrend, the profit space is very small.
From 1D, there's the sideways signal.
-
1D/8H/4H/1H
From below, 1D is sideways, 8H is uptrend, 4H/1H are downtrend.
The volume is going up, in Short direction.
-
From Fib Retracement
It is sideways from 1D pattern.
Volume is going down.
MACD is not strong.
From price, it has increased 10.24%.
Current pull back happened at 0.236, this level can be ignored. Which means this signal is not effective to show any direction.
Summary:
- Crypto ETP issuer 21 Shares has announced the listing of the first ATOM ETP, which will be traded on the SIX exchange in Switzerland. The current position is the callback cycle of the upward trend, and there are signs of the end of the callback, and it is mainly to hold the coins.
- Short order for short or mid-long term.
- After sideways, there's the new pull back. If it reaches 0.382 or 0.618, then the rebound will be very good.
Q: Let's do a little conclusion.
A:
Q: That's all for today, let's go to question session.
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