LOEx Market Research Report on May 13: BTC has fallen again, lightening up at high is suitable

[Hot Tips]

1. [Tesla suspends Bitcoin as payment]

Elon Musk, Tesla CEO, said on Twitter that Tesla has suspend BTC as payments. He said that cryptocurrency is a good idea in many ways, but it cannot be at the expense of the environment. Tesla will seek other cryptocurrencies that consume less energy than BTC.

2. [ CEO of Grayscale: May we can brainstorm together to find a green cryptocurrency solution]

Michael Sonnenshein, CEO of Grayscale, quoted Musk’s tweets as saying: Renewable energy has a huge opportunity to play an increasingly important role in the future of cryptocurrency (and mining). If you also play games, I would be happy to bring together some of the smartest people so we can brainstorm and determine measurable solutions.

3. [U.S. stocks closed: the three major stock indexes closed down, and the U.S. blockchain sector closed down 3.42%]

US stocks closed: the three major stock indexes closed down, the Dow closed down 1.99%; the Nasdaq closed down 2.67%; the S&P 500 index closed down 2.15%. The U.S. stock blockchain sector closed down 3.42%. Marathon Digital, Riot Blockchain, and Overstock all fell more than 10%, Coinbase fell 6.4%, Canaan Technology and EBON fell about 4%.

[Market analysis]

Bitcoin (BTC)BTC continued to fall last night and plunged sharply around 10 o’clock, dropping to 46000.6 USDT as low as possible, and then it reversed slightly. ETH rebounded after falling below 4000 USDT in intraday trading. BTC is currently trading at 50482.53 USDT on LOEx Global, an intraday increase of 9.12%.

Tesla has suspended BTC to purchase vehicles. Musk started to shout again, but this time it was an empty shout. Everyone would like to know the news early, because knowing it will bring imagination to coin lovers, but investment is risky, we should be cautious to enter the market. Becuase investment is the real money, so we suggest friends do not chase high, do not chase hot spots, it must be a feather after the heat is over. In the past few days, I have been reminding everyone not to chase high. It seems to be right. Here, BTC finally chose the direction after a long time. It is just a downward change, and the index has formed a triple top. Then we will consider escaping from the top in the future. In the event of a rebound, we will reduce our position on rallies. It must be right.

Operation suggestions:

Support level: the first support level is 50,000 points, the second support level is 46,000 integers;

Resistance level: the first resistance level is 52,000 points, the second resistance level is 55,000 points.

LOEx is registered in Seychelles. It is a global one-stop digital asset service platform with business distribution nodes in 20 regions around the world. It has been exempted from Seychelles and Monetary Authority of Singapore (MAS) digital currency trading services. Provide services and secure encrypted digital currency trading environment for 2 million community members in 24 hours.