Crypto Market Analysis - July 14th

 2020-07-14 06:39:31

Bexplus


Bexplus

As BTC rallied and fell back on July 12th, yesterday, BTC once again pulled back from the short-term high, which means that the market is going to adjust. At this time, there were no more bullish signals for mainstream coins, and most of the hot currencies showed signs of peaking. The short-term price trend of most currencies has begun to decline.

From the perspective of BTC price performance, the recent price rebound has not reached a maximum of $9,500, indicating that the investor's cost price within 2 months is still above the current BTC price, and the lock-up plate obviously has a negative impact on the rebound expectation. Next, investors need to pay attention to whether the BTC adjusted sideways for the past 2 months will choose to break down.

Generally speaking, when the trading volume continues to shrink, BTC will not maintain a high price for a long time. Therefore, to judge the price trend of BTC, if there is no main pull after the flat, the price will naturally fall. In terms of points, the BTC rebounded high on the daily line on June 10, June 22, and July 8 and continued to fall back, constantly prompting a bearish signal.

Recently, the market share of BTC has continuously retreated, dropping by more than 2 percentage points. Therefore, it is not surprising that if BTC changes at this time and the hot currency enters the adjustment state. To seize trading opportunities, we must wait for the short-term BTC price to become clear.

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