Tomorrow is the largest delivery in BTC history of US$11 billion. We can see that the quarterly delivery is over and new trends tend to emerge. Is the thousand-point market coming again?
Before 2017, when perpetuals had not yet appeared, the market mainly traded quarterly futures. The principles of quarterly and perpetual were very different. Quarterly was delivered every three months according to the spot price, while perpetual was several The hourly subsidy rate means that quarterly prices tend to be more extreme and are much different from spot prices. Many people can tell which side of the long-short side big funds prefer through the price difference between quarterly and spot prices.
Since entering the 20th year, the trading volume of options has become larger and larger, and the quarterly delivery effect brought by options has also become greater. Everyone has noticed the biggest pain point of options, and can see the intentions of big funds. Today, the biggest pain point of BTC is 5 10,000, ETH is at 2,600.
A new trend is about to start next week, and the long-short game is coming to an end.
BTC：
BTC rebounded from the 5-day line, confirming the bottom support. The hourly line's double pins fell back. With the rebound on heavy volume, it is necessary to test the top selling pressure. The upper US$70,898 is the key pin point. Only by standing firm at US$70,898 can the bottom be further strengthened. Entering a new round of upward trend, BTC then rose to test $70,898.
Resistance levels: 70898, 71765, 72658
Support levels: 68965, 67746, 66527
ETH：
The pin rebounded on the 5-day line, confirming the bottom support. The top of the hourly line lowered, facing the suppression of the resistance line. The upper US$3,604 is the key point of the resistance line formed on 3.26 and 3.27. Only when ETH stabilizes at US$3,604 can it build a bottom and strengthen, entering a new era. After an upward trend, ETH rose to test $3,604.
Resistance levels: 3604, 3672, 3835
Support levels: 3498, 3433, 3372
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