LOEx Market Research Report on July 2: The market is stalemate, it faces a direction choice at the critical point

[Hot Tips]

1. [Tokenview: A total of 114.9 billion stablecoins printed in the first half of 2021]

According to statistics from Tokenview.com: In the first half of 2021, a total of 74.44 billion stablecoins were printed, of which 114.969 billion were printed and 40.529 billion were destroyed.

2. [The Indian cryptocurrency exchange is looking for a safe, feasible and permanent payment solution]

According to AMBCrypto news, Indian cryptocurrency companies have been struggling to deal with unclear regulations. Now, exchanges are seeking safe, feasible and permanent payment solutions. Currently, Indian banks are still not keen on allowing encrypted transactions. According to ZebPay’s co-CEO Avinash Shekhar, the bank’s reluctance to conduct business has caused the exchange to delay settlement, so it is even taking the risk of seeking other payment processing options.

3. [The United States urges El Salvador to do everything it can to regulate Bitcoin]

According to Decrypt, Victoria Nuland, a long-time U.S. State Department official and current Deputy Secretary of State in charge of political affairs, recently met with El Salvador’s President Nayib Bukele and urged his government to do everything it can to supervise Bitcoin and avoid any potentially illegal activities related to cryptocurrencies. . Earlier news, the President of El Salvador announced that Bitcoin will become the country’s legal tender on September 7.

[Market analysis]

Bitcoin (BTC)BTC traded flat and sideways for a long time last night, and began to rebound after falling to 32705 USDT in the early hours of this morning. BTC is currently trading at 33235 USDT on LOEx, a drop of 0.57% within the day.

After the market received 3 days of positive line and 3 days of negative line. The market was very stale. The long and short were closed. The idea given in the article yesterday was short-term $34000 and went long as expected. The 4 hours Bollinger Band started to close on its way up, the K line oscillated around the Bollinger Band Middle Track (34890), the KDJ low position began to close upwards, and the MACD shrinkage decreased. Therefore, it is cautious to chase higher at this time. It is recommended to focus on high altitude in the short term, chase more carefully, and strictly prohibit heavy positions. If you want to build a new position, you still have to look at the vicinity of $30000. The market changes rapidly, so don’t be greedy.

Operation suggestions:

Support level: the first support level is 31,000 points, the second support level is 30,000 integers;

Resistance level: the first resistance level is 36,000 points, the second resistance level is 38,000 points.

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