Recalling the market performance of BTC in June, the daily amplitude is running at a low level, and there is currently a strong potential for change. From the perspective of shrinkage adjustment, the possibility of upward movement is still low. The increase in trading volume of small and medium investors may provide opportunities for main trading.
In general, the number of BTC unconfirmed transactions continues to grow, which is a signal for short-term retail entry. And this time is also the time for the main trader. Using the opportunity of retail investors to expand the number of transactions to suppress BTC prices, the main force can complete large-scale transaction quotas. Because of the short-term support of retail buying, the main force can sell more BTC.
In terms of market conditions, BTC is still trading sideways, with 38.2% of the daily Fibonacci corresponding to $9,542 as the pressure level. Below this pressure level, BTC has the possibility of rushing back up. After all, after the recent price continued to fall, the real pull will surely break through 9542 US dollars. Considering that BTC is already at a low price within 2 months, most trading investors have lost money recently. Only when the BTC rises at least reaches the weighted average price of $9462 for investors within 30 days can the market be judged to be up.
In terms of mainstream coins, most currencies are not strong. ETH’s short-term sideways shocks basically represent the market performance of mainstream coins. The shrinkage has become a major obstacle to the weak sideways of mainstream currencies. If judged according to this, it is not an entry opportunity for investors in the near future. New buying points must be confirmed at least after the volume has rebounded.
In terms of risk, the consolidation of mainstream currencies has not expanded the decline, but it does not mean that prices will not fall. At present, the potential for change in the point is greater, and contract traders should be most concerned about the possibility of increased BTC volatility. After all, it is indeed rare to see an intraday fluctuation of 1.5% on June 30.
Disclaimer: Please do not take this as investment advice; please reply to your own judgment. The above analysis does not reflect any preferences of Bexplus exchange platform.