Tuesday, June 15, 2021

LOEx Market Research Report on June 15: BTC rebounded and broke $40000

[Hot Tips]  

1. [Swarm 1.0 mainnet, the ETH storage project, officially launched]

According to official news, the Swarm Foundation of ETH storage project announced the official launch of the Swarm1.0 mainnet and will start the SwarmOne event at 21:00 on June 21. The event will give a speech on Swarm1.0 and its future development.

2. [Report: The ETH fund created the largest outflow since 2015 last week]

According to CoinDesk's news on June 15, CoinShares reported on Monday that the withdrawal of funds from digital asset investment funds has slowed down last week. Although the net redemption of BTC funds has decreased, some investors seem to be not interested in ETH. Last week, the net outflow of digital asset fund was $21 million, which was lower than the previous week's $94 million. The total outflow of the BTC fund was $10 million, which was much lower than the previous week's record of $141 million. At the same time, the ETH fund set the largest outflow on record last week (since 2015), totaling $12.7 million.

3. [Goldman Sachs plans to provide ETH futures and options to its customers]

According to Bloomberg News on June 15, Goldman Sachs plans to expand its customer-facing cryptocurrency products with ETH options and futures. Mathew McDermott, head of digital assets at Goldman Sachs, said the move is expected to take place "in the coming months." In addition, according to Bloomberg News, Goldman Sachs appears to be paying attention to other investments in the encryption field.

[Market analysis]

Bitcoin (BTC)

BTC fluctuated around 40300 USDT. BTC is currently trading at 40302 USDT on LOEx Global, a drop of 0.80% during the day.

BTC has risen since the opening in the morning. The high level reached around $41000 and retreated. The low level reached $39337 and then rebounded. Although the shorts are strong in the morning, the rebound in prices is also showing the strength of the bulls. The current situation of longs and shorts is anxious, and prices maintain a range of consolidation.

BTC first fell to $34800 yesterday and then stabilized and started to rebound. This round of rebound firstly benefited from the strong support of $34,800 on the technical side. The coin price rose to a high of $39,000 and then broke through $40000 again. Investors need to pay attention to that although the short-term trend has been strong for three consecutive days, BTC is still facing the top of the market adjustment zone, which is the resistance of the $43000 range, before the effective breakthrough of this zone. There will still be repetitions at this point. It must stand firm at $43000 to have the possibility of a sustained upward attack of $45000.

Operation suggestions:

Support level: the first support level is 38,000 points, the second support level is 35,000 integers;

Resistance level: the first resistance level is 41,000 points, the second resistance level is 43,000 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.

https://preview.redd.it/3jf7sz1h8e571.png?width=715&format=png&auto=webp&s=7d59d620de330ac536613c20d1e396a377f9e0c7


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