The daily price of BTC closed above the key point, which proves that the price retracement is still completed as expected. After the technical rebound trend appears, it means that the market has signs of further strengthening.
The daily BTC did not break the key point of $11,515, indicating that the price retracement is a short-term adjustment. Judging from the price performance since August, the BTC retracement first stood at US$11,515, which means that the price trend pattern in the range of US$11,515 to US$13,488 is being confirmed, and the increase is expected to be reflected soon.
Due to the rapid retreat and rebound of BTC, it can be considered that the short-term pull on August 17 may be a trading signal for the main entry. Only after the first draw was over, the main force let go of suppressing the BTC price and reached the partial washing target. A new round of rise starting from $11,515 is very important, and the range fluctuation is expected to reach 17%, which is a key acceleration stage in the BTC recovery trend.
During the strong currency rotation period, after the cross-chain concept ATOM short-term pulls exceeded 50%, after the recent 4 consecutive trading weeks, the transaction volume reached a new high. This shows that BTC is currently trending steadily, which has played a very good supporting effect on the price recovery of popular currencies.
In terms of mainstream currencies, most of the top 20 currencies are trending steadily. Except for individual strong currencies that have pulled up more and then retreated sharply, there are more currencies that have not yet been activated, which is a factor in the bullish market. Driven by the stabilization of BTC, the trend of ETH did not continue to break, and LINK began to rebound near the key $13, indicating that the market will bring us more surprises.