01
Cryptocurrency News Interpretation
Christine Kim, vice president of research at Galaxy, published a summary of the 111th Ethereum core developer consensus meeting. The consensus layer team discussed the final scope of the Deneb upgrade, potential changes in validator proofs and aggregation periods, and a proposal to increase the maximum effective validator balance from 32 ETH to 2048 ETH. First, developers discussed which CL-centric EIPs to include in Deneb, and Teku developer Mikhail Kalinin updated around EIP-6988, which proposed a code change to prevent slashed validators that were forcibly ejected from the dual network from being selected as block proposers by the protocol.
Ethereum Foundation researcher Michael Neuder proposed removing the 32 ETH staking cap to help reduce the growth of the active validator set. Developers discussed the potential pitfalls of this change and the possibility of combining the proposal with smart contract-initiated partial and full withdrawals directly from EL. Developers agreed to continue discussing the implementation details of asynchronously changing the effective balance of Ethereum validators on ETH Magicians and Discord. In addition, Ethereum core developers held their first coordination call on the launch of the Holesky testnet, which is expected to replace the existing Goerli testnet by the end of the year.
Important news overview:
1. Zhu Xiaohu denied the rumors of being detained in his circle of friends:
2. Binance.US’s market share dropped to 4.35% after the SEC lawsuit;
3. Coinbase slams SEC for "evading response" to court order;
4. Coinbase former CTO: Large technology companies may help the government acquire crypto assets:
5. Federal policy experts: It may take more than a decade for regulatory policies on encryption to be implemented:
6. NatWest Bank now requires customers to notify the bank before withdrawing more than £2,000 in cryptocurrency:
02
Cryptocurrency Trading Tips
Mental training
In the investment market, success rate is always a topic that cannot be ignored, especially in contract trading. For example, if you win 7 out of 10 bets, but lose 3 times more than you win 7 times, you have a 70% success rate. But what is the use of such a high success rate? Sometimes, even if 5 out of 10 trades are wrong, but you stop loss and take profit reasonably, the result is profitable. Which one do you want?
Therefore, the success rate is a false proposition. The charm of contract trading is to make a small investment for a big return. With a stop loss of four or five hundred points, you can get a profit of three or four hundred points. It is a joke to want to make money in the trading market with this success rate.
The more you pursue success rate, the more you lose profit rate, and the more you pursue profit rate, the lower your success rate. The profit of gambling in the market is not the number of times you are right, but how to increase the stakes when you are right and make the right run, and how to stop the error from spreading when you are wrong. The financial market is never about old people making money from newcomers, but about wise people making money from fools!
03
Cryptocurrency market analysis
The U.S. stock market was closed overnight, and Bitcoin led the market to a rebound. Overall, the downward trend has not changed. It is normal for oversold stocks to rebound and repair.
In the 30-minute trend, the rebound from the previous period leaving the center since 24781 is currently close to trend divergence. Considering the trend characteristics, if it is three periods, there is another opportunity to test the high point.
In a complete trend, divergence does not necessarily end the market, and it can be upgraded to a three-wave or five-wave structure. This is also a controversial issue among entanglement fans.
If there is a three-wave structure in the rise since 24781, it may be the beginning of the construction of a falling center in the four-hour or daily line. If there is no three-wave structure, the decline will not be far. The difference between the two lies in the issue of strength.
The reference level is 27500. If it is broken, you need to be alert to the big positive rebound on the daily line.
In terms of operations, we will focus on high-altitude trading for the time being, and will not consider low-long trading unless there is a large downward trend in volume.