Market Overview and Bitcoin Price Analysis Today (17/11)
BTC Technical Analysis
Looking at the H4 frame, BTC is lacking in bullish momentum as it fails to break through the nearest $17,000 resistance area. Attempts to increase prices were blocked at this price zone.
It is very likely that there will be a fake break of the resistance areas above, at $17,200 and $18,000 respectively.
Therefore, FomoTrade remains the same position as yesterday. Just wait for the price to rally to the resistance levels and then consider Short/Sell down.
Market Overview
Some remarks from the SkyBridge SALT iConnections conference held at Marina Bay Sands, Singapore
John Ge - CEO Matrixport: in the next 10 years, all assets will have their own version of onchain and will be a part of our daily lives. All cryptocurrency trading platforms must be regulated by government agencies, in order to protect the absolute interests of users. And bring sustainable development to cryptocurrencies, DeFI, etc.
Hassan Ahmed - Coinbase: The market will emerge by technology projects, GameFI, the ability to combine with WEB3.0 and Southeast Asia will be a hot spot, of which Vietnam is a producer and Singapore is a supplier. financial level.
Watchlist
Uniswap (UNI): Futures open interest fell by 6%, a sign that traders are cutting their Long/Buy positions. Consider opening a Short/Sell position.
Cosmos (ATOM): Futures open interest is up +3.8%, volume is $3000 million (1d), momentum is turning negative, with prices down (-4.5% , 1d) funding rate can be quickly reversed;
dYdX (DYDX): Futures open interest increased by +0.7%, showing price positivity. Consider opening a Long/Buy position.
Avalanche (AVAX): Funding rate fell 23.2%, open interest increased +1.9%, showing that Short/Sell positions are very large. So avoid opening a Short/Sell position at this time.
Looking at the H4 frame, BTC is lacking in bullish momentum as it fails to break through the nearest $17,000 resistance area. Attempts to increase prices were blocked at this price zone.
It is very likely that there will be a fake break of the resistance areas above, at $17,200 and $18,000 respectively.
Therefore, FomoTrade remains the same position as yesterday. Just wait for the price to rally to the resistance levels and then consider Short/Sell down.
Market Overview
Some remarks from the SkyBridge SALT iConnections conference held at Marina Bay Sands, Singapore
John Ge - CEO Matrixport: in the next 10 years, all assets will have their own version of onchain and will be a part of our daily lives. All cryptocurrency trading platforms must be regulated by government agencies, in order to protect the absolute interests of users. And bring sustainable development to cryptocurrencies, DeFI, etc.
Hassan Ahmed - Coinbase: The market will emerge by technology projects, GameFI, the ability to combine with WEB3.0 and Southeast Asia will be a hot spot, of which Vietnam is a producer and Singapore is a supplier. financial level.
Watchlist
Uniswap (UNI): Futures open interest fell by 6%, a sign that traders are cutting their Long/Buy positions. Consider opening a Short/Sell position.
Cosmos (ATOM): Futures open interest is up +3.8%, volume is $3000 million (1d), momentum is turning negative, with prices down (-4.5% , 1d) funding rate can be quickly reversed;
dYdX (DYDX): Futures open interest increased by +0.7%, showing price positivity. Consider opening a Long/Buy position.
Avalanche (AVAX): Funding rate fell 23.2%, open interest increased +1.9%, showing that Short/Sell positions are very large. So avoid opening a Short/Sell position at this time.