Gate.io 博客 Gate.io AMA - Weekly Analysis, Feb.25th

Gate.io AMA - Weekly Analysis, Feb.25th

03月28日 14:23

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

From the following pictures, basically there's the sideways.
From 1W pattern, there's the head and shoulder,not yet the timing for breakout.
From 1D pattern, there's the sideways.
Overall, the volume is not bad, it needs to be more stable.
From 1W/1D, MACD power started getting better.

1D/8H/4H/1H

From below, it is obvious uptrend.
From 1D, there's a sideways.
From 8H/4H/1H, there's the uptrend.
Overall, MACD is getting stronger.
Overall, VOLUME is not stable.

From Fib Retracement

It was a good pull back at 0.768 level, yesterday's volume has been enlarged.
Now there's the sideways for 1D pattern.
Volume is getting back, looking forward the better power.
MACD is getting stronger
Overall, the pull back has begun.

Summary:

We can see the uptrend is on the way.
The VOLUME and MACD are good in 4H pattern
Price channel is 38938-42000.
Can do Long order for 4-8hours.

Q: Let's check some news for this week.
A:
1）Industry
Luna Foundation Guard (LFG) announced that it has completed a $1 billion private token sale to build a decentralized UST currency reserve denominated in BTC. This is one of the biggest sales to date in the cryptocurrency industry. The sale was led by Jump Crypto & Three Arrows Capital, with participation from DeFiance Capital, Republic Capital, GSR, Tribe Capital and more.

Tether announced that it will launch its "Bitcoin Project" with Lugano, the ninth largest city in Switzerland, on March 3. Tether CTO Paolo Ardoino said that he had been working with the city’s mayor for months and “they are true Bitcoin supporters.” Specific details of the plan will be announced on March 3.

Famous sports brand PUMA changed its Twitter account to PUMA.eth. In January, PUMA released the recruitment requirements for "digital culture" managers, requiring candidates to have a deep understanding of the metaverse and DAOs (decentralized autonomous organizations).

The Russian Ministry of Finance is preparing to submit a draft law on the regulation of cryptocurrencies, which will continue to ban cryptocurrencies as a means of payment and be considered only as an investment vehicle, and citizens can invest up to 600,000 rubles ($7,500) in digital currency per year, Accredited investors and legal entities will trade without restrictions. The bill aims to create a legal market for cryptocurrencies.

2) NFT
The market value of fragmented NFT exceeds 200 million US dollars, and The Doge NFT ranks first with a market value of 100 million US dollars.

LiveOne, Cere and Polygon have announced a partnership to launch an NFT platform and utility token for music entertainment/metaverse. LiveOne (NASDAQ: LVO) is a creator-first music, entertainment and technology platform, LiveOne has accumulated more than 1.35 million paying subscribers, more than 2,900 artists, and has a library of 30 million songs.

According to the NFTGO annual report, by the end of 2021, the market value of NFTs has reached 10.49 billion US dollars. Among the specific market value, 52% are avatar NFTs, 15% are artwork NFTs, 12% are game NFTs, and 10% are Metaverse, Land-based NFT. The highest daily volume in the NFT industry was $570 million. In addition, this article also sorts out the "slang" of the NFT industry and the historical route since the birth of NFT.

An artist named Shl0ms blew up a nearly $250,000 Lamborghini with the help of explosion experts. They are now turning the burnt part into a collection of 999 NFTs - in protest against the get-rich-quick culture of cryptocurrencies. After the explosion, however, the team picked up the debris and recorded it. It consists of 999 NFTs, of which 888 are for sale and the remaining 111 are for teams and initial investors.

3）Coins
A Mexican senator said a Bitcoin currency law would be introduced this year. Mexico could become the second country to adopt Bitcoin as legal tender, next to El Salvador.

The total value of Bitcoin miners wallet tokens fell from US1114 billion to US775 billion. Due to the decline in currency prices and the continuous growth of computing power, profits will decrease, and miners will sell. The situation of buying electricity in coins, so there will be selling pressure from white miners in the future.

In the past month, a total of 219,000 Bitcoin addresses have been emptied. With the blessing, a large number of investors in the market began to surrender, and this situation is difficult to sustain.The general decline in the market will end soon.

Affected by the recent macro situation, Bitcoin once fell below $40,000 in the last 24 hours. Still, according to Glassnode’s HODL Waves indicator, 60.61% of the BTC supply has not been traded for a year or more as of Feb. 18, and long-term investors are still adding to their positions or maintaining their exposure to Bitcoin.

Conclusion:

Panic index 27, extreme panic.
Although BTC has rebounded slightly at present, there is still the possibility of a fall.
The current situation of the Russian-Ukrainian war has not improved, please do not panic, but wait for a better opportunity to increase your positions.
Seize the opportunity to do Long orders for short-term profits.

Q: That's all for today, let's go to question session.

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