Analysts at Bexplus believe that the key pressure level is adjusted below $40,000, and BTC has no signs of further rise. The mainstream cryptocurrency linked to the BTC traded sideways, and short-term trading risks increased during the currency holding period.
At present, the top mainstream cryptocurrencies are showing adjustments, which are related to the shrinking operation of BTC. After the current BTC trading volume fell back on January 30th, the trading volume on February 7th contracted again. In other words, it is more difficult for BTC to break through with the current trading volume.
The adjustment continues and the BTC volatility is not strong. The current $38,000 is getting closer and closer to the 30-day and 60-day moving averages. Before deviating from the current cost price, BTC may not start until multiple trading days have been fully adjusted.
From the current transaction frequency, the rise of mainstream cryptocurrencies will still unfold in differentiation. Cryptocurrencies with larger gains will adjust sideways, while cryptocurrencies seeking to supplement the gains will have the opportunity to rise. Before the change of BTC, the leading characteristics of ETH and DeFi concepts are still obvious. In the DeFi concept, AAVE and UNI, which have increased significantly, have shown signs of adjustment. The chips are loose but the upward trend has not changed. Traders can pay attention to the performance of BTC and increase their positions cautiously.
The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.