1.Review of the market the day before yesterday (data from Coinmarketcap/Coinglass)

• The global cryptocurrency market capitalization is $1.31 trillion, an increase of 2.88% in the last day.
• The total cryptocurrency market trading volume in the last 24 hours was $57.89 billion, an increase of 43.33%. The total volume in DeFi currently stands at $6 billion, accounting for 10.36% of the total cryptocurrency market 24-hour trading volume. The current trading volume of all stablecoins is $51.83 billion, accounting for 89.53% of the total 24-hour trading volume of the cryptocurrency market.· Bitcoin’s current total market value is 52.84%, with a full-day increase of 0.09%.
• Bitcoin’s greed and panic index today is: 65 (greed), down 7 from yesterday.
• The long-short ratio of Bitcoin is 0.9175, a decrease of 0.0205 from the previous day.
• The open contract position on the Bitcoin exchange was US$14.704 billion, a decrease of US$314 million from the previous day.
• The total Bitcoin option holdings on the entire network are US$16.308 billion, a US$270 million decrease from yesterday.
• Bitcoin’s volatility index today is 62.46, which is at a high level in the past month.
• Ethereum’s volatility index today is 60.41, which is at a high level in the past month.

Important news (data from PAnews / Golden Finance / Twitter):

#policy information

• The probability that the Federal Reserve will keep interest rates unchanged in December is 80.2%.
• The U.S. Department of Justice seized and confiscated $54 million worth of cryptocurrency belonging to drug gangs.
• Hashdex updates its Bitcoin futures ETF filing with the SEC.
• US Congressman: The SEC’s crackdown on the encryption industry is one of the things the agency “did right”.

#macro information

• 20:30 (utc+8) U.S. non-farm payrolls report for October, 22:00 (utc+8) U.S. ISM non-manufacturing index for October.
• The S&P 500 index hit its largest gain in ten months, with Tesla rising by more than 6%; long-term bond yields fell by more than 10 basis points during the session; international oil prices rose by more than 2%.
• The Bank of England kept interest rates unchanged and lowered its economic forecasts.
• Apple’s quarterly revenue and profit were higher than expected, but revenue fell for the fourth consecutive quarter and the outlook for the next quarter was poor. It fell 4% after the market closed.

#Coin circle information

• Glassnode: The growth in the total supply of stablecoins indicates an increase in capital inflows.
• Data: The average daily trading volume of Grayscale Bitcoin Trust Fund GBTC increased by 157% in October.
• Financial technology company Block’s Bitcoin revenue surged nearly 40% year-on-year.
• MicroStrategy co-founder Michael Saylor: The halving will reduce the selling pressure on Bitcoin by 50%, and the "unprecedented" demand will make Bitcoin rise 10 times.
• Fidelity executive: Bitcoin is “exponential gold.”
• Analyst: Hashdex’s spot Bitcoin ETF may have a higher probability of approval than other applicants.
• ProShares launches short-selling Ethereum futures ETF.
• German asset management company DWS Group is preparing to launch a crypto ETF for retail investors.

On the news front, we need to pay attention to the following important news:

Decisions from the Federal Reserve and Bank of England, as well as the latest economic data, have an impact on global markets.

US market:

The market was pleasantly surprised when Federal Reserve Chairman Powell's hawkish statement failed to appear as expected, but instead showed signs of a possible end to the interest rate hike cycle. This has led to a decline in U.S. Treasury yields, especially long-term Treasuries. The market believes that the Federal Reserve may slow down the pace of interest rate hikes to alleviate the negative impact of financial conditions on the economy and inflation.

The dollar index fell to a one-week low, pulling back from a four-week high set before Powell's speech. This is good news for exports and international investment, but it also affects dollar holders.

U.S. stocks performed strongly, with the Nasdaq rising for four consecutive days and the S&P 500 recording its biggest gain since January. Technology stocks led the gains, with earnings reports from companies such as Starbucks and Qualcomm exceeding expectations.

European market:

The Bank of England also unexpectedly suspended interest rate hikes, raising market hopes for the end of the rate hike cycle. That boosted European stocks, with the Stoxx 600 notching its biggest gain since October.

European crude oil futures were hit by Storm Ciaran, but international crude oil futures rebounded, with U.S. WTI and Brent crude oil halting three consecutive losses.

Meanwhile, Bitcoin continues to hold high despite some intraday volatility in U.S. markets.

Gold prices rebounded and, while fluctuating around one-week lows, remained elevated.

Bond market:

U.S. and European Treasury bond prices rose, causing yields to fall. This is because the market expects that the central bank will suspend interest rate increases and financial conditions will not tighten further.

The 2-year U.S. Treasury yield fell after the release of U.S. unemployment data, while the 10-year U.S. Treasury yield hit a new low in nearly three weeks. The U.S. dollar index fell as concerns about the outlook for interest rates increased and the market's wait-and-see attitude increased.

3.Technical indicator analysis (chart data from LBank/Coingecko):

BTC

The current price of BTC is US$34,690, a decrease of 2.8% in 24 hours; the 24-hour trading volume is US$20.9 billion, a decrease of 9.96% compared to one day ago.

In the past 24 hours, BTC has risen then fallen. Yesterday, it reached the highest pressure level of US$36,000. The current price has retreated to around US$34,600.

As can be observed from the daily chart of BTC, the price trend is still upward. However, the market yesterday saw top divergence signals from the MACD and RSI indicators, and the closing price formed a spindle line, which may mean that the long momentum has weakened in the short term. Currently, prices are holding on to support levels, but today's close will be key. If the closing price remains above the support, then the price is expected to continue rising within the triangle; otherwise, it may test down to the next support level, which is around $33,370-$34,000.

 

 

According to the 4-hour chart observation, the MACD and RSI indicators show signs of top divergence at the highs, while the recent rebound formed a cross line, which can be regarded as a downward signal. However, the current price is near the support line, and the risk of shorting at this time is relatively low. Unless the price falls below the support level, you can consider setting a stop loss and backhand shorting. The next potential target is between $33,370 and $33,860. On the other hand, there is pressure above in the range of $35,100-$35,500.

 

 

Personal opinion, for reference only.

Click to trade : https://www.lbank.com/trade/btc_usdt/

ETH

The current price of ETH is US$1,796, a decrease of 3.81% in 24 hours; the trading volume in the past 24 hours was US$8.95 billion, an increase of 17.66% from a day ago.

· From the daily chart, ETH is trending upward, and it can be judged that it is currently in a callback state. Yesterday's high showed a falling and engulfing pattern, and the trend was weaker than that of BTC. The lowest price fell below the support line, but the price is now back above the support line. The profit-loss ratio of short selling at the support level is not high. It is recommended to continue to observe. If it falls below, you can take advantage of the trend and go short.

 

 

According to the 4-hour chart, although the lowest price of ETH fell below the support line, it was supported by the lower Bollinger Bands and temporarily closed the reversal signal hammer line. The MACD dead cross is downward and the short energy column continues to increase volume. It is recommended to wait for this K Make a judgment after the line is completed. The short-term support level is 1745-1775 US dollars, and the pressure level is 1815-1850 US dollars.

 

 

Personal opinion, for reference only.

Click to trade : https://www.lbank.com/trade/eth_usdt/

PEPE2

The current price of PEPE2 is US$0.00000005706, an increase of 10.13% in 24 hours; the trading volume in the past 24 hours was US$41.35 million, an increase of 89.67%.

From the 1-hour chart, PEPE2 failed to test the resistance level ahead, and MACD and RSI showed top divergence signals. At this time, the MACD short energy column continues to increase in volume. It is recommended to pay attention to the position of $0.000000049. If it can stand firm, you can consider continuing to go long.

 

4. Research on hot projects (data from LBank/Dextool/OKLINK/Scopescan):

$SHIB2

The current price is US$0.000000004782. It has been online for 4 months and has increased by 94.72% within 24 hours. The 24-hour trading volume of the largest pool in DEX is US$570,000. The size of the liquidity pool is approximately US$640,000. The current market value is US$2.01 million, 24 The total hourly trading volume reached $4.46 million.

From the data, there are 7128 wallet holders, and the concentration of chips is high; the top 10 wallets hold a total of 75.5% of the chips. Within 24 hours, the top 20 exchange wallets have a large inflow of chips, and some non-exchange wallets have Abnormal movement.

 

Judging from the daily chart, the recent two K-lines have had a good upward trend, and the resistance level after breaking through this position is around $0.0000000086 ahead.

 

 

From the hourly chart, SHIB2 is clearly a long market. There is currently no high-level divergence signal, and a dead cross will appear at the high level of MACD soon. If it pulls back to near the 20-day moving average and stands firm, you can try to go long. It is recommended to control the position and set a stop loss.

 

 

Personal opinion, for reference only.

Click to trade : https://www.lbank.com/trade/shib2_usdt/

$SIMPSON

· The current price of SIMPSON is US$0.0000000000020, with an increase of 42.93% in 24 hours. The 24-hour trading volume in DEX is US$100,000, the size of the liquidity pool is approximately US$235,000, and the current market value is US$778,000. Total trading volume in 24 hours was $680,000.

· Judging from the data, the number of wallet holders is 7,492, which has continued to grow recently. The concentration of chips is high, with the top 10 wallets holding 77.52% of the chips; non-exchange wallets in the Top 20 have more outflows.

 

 

The number of people in the TG community of this project is 10,400; the number of followers on Twitter is 14.9k, and the overall activity of tweets is average.

Judging from the daily chart, SIMPSON is currently reversing at the bottom, and the price has reached the resistance level near $0.0000000000025. If it can break through and stand firm, the next resistance level can be seen at $0.0000000000042.

 

 

From the hourly chart, SIMPSON has an obvious long trend, and continues to rise after stepping back on the 20-day moving average; currently MACD is once again golden cross upward, observe the price trend at the recent resistance level of $0.000000000002170, if it breaks through and stands firm, you can try small Position participation.

 

 

Personal opinion, for reference only.

Click to trade : https://www.lbank.com/trade/simpson_usdt/