Market Analysis on January 16, 2019

Fundamentals

The Federal Reserve Bank of St. Louis today published an article on Bitcoin. In this article, the bank points out that the price of Bitcoin has three potential possibilities: indefinite appreciation; zero; or somewhere in between. They believe it will be somewhere in between. The Russian government may invest $10 billion in Bitcoins in the first quarter of 2019. One of the most popular games in the world is the "Hero Alliance" which is formally integrated into the Refereum Encryption Award Platform. Players will get encrypted currency when they achieve success or win the game. At present, in the foreign service test, the national uniform can not make money. In 2018, another industry that has to be mentioned is electronic competition. When encrypted currency and electronic competition are linked, they will face new consumer groups. New ways of playing will surely bring more users. This is not the only encrypted currency currently connected to the game, but it has the largest number of participants worldwide. I believe in 2019 will bring us more wonderful experience.

Technical aspect

BTC/USDT

Figure 4 Hour Trend Chart

As can be seen in the chart, yesterday's trend did not continue the bull trend, but was tidied up in a narrow range, which greatly reduced the confidence of the bull, so the probability of future downward volatility will gradually increase unless prices stabilize above 3660. From the breakdown of the triangular consolidation interval in the figure, we can see that the rebound strength is insufficient, and the market is not active. It is suggested that the currency should be mainly on the lookout, supporting the pressure above 3300 3080 below 3450 3940.

ETH/USDT

Figure 4 Hour Trend Chart

As can be seen from the picture, yesterday's narrow-range consolidation still did not bring more power to ETH. Combining with recent hard bifurcation events, it is suggested that the currency should be reduced or left to wait and see. The pressure above 112.3 97.9 is 136.3 157.4 under the support of 112.3 97.9 below.

ETC/USDT

Figure 4 Hour Trend Chart

The currency is one of the weaker mainstream currencies. From the figure, we can see that the currency is in a circular arc, but the recent low-point range has slowed down. The downward channel has been tidied up to the edge. At any time, a wave of force may break out. Considering the situation of the whole currency market, the probability of downward release of kinetic energy is higher. The pressure above 3.653.22 is 4.685.46 below.

The above suggestions are for reference only.