BTC began to fall in heavy volume, wet storage responds to price retreat

 2020-08-26 10:04:25

As the decline of BTC continues to expand below the daily 30-day moving average, the 24-hour trading volume shows signs of increasing volume. After the trading volume rebounded to $26 billion, it indicated that the number of investors buying in the short-term has increased, but this does not mean that BTC will immediately bottom out successfully.

From the perspective of BTC's operating range, after the price broke and fell on August 25, the price has successfully fallen below the important support line of $11,515, and it has also retreated below the 30-day moving average. This shows that adjustment expectations are strengthening, and short-term BTC still has room for shock.

On the daily line, the BTC price is still within the range confirmed during the price rebound on August 2. Therefore, judging from the period of shock, BTC has not broken the position. However, judging from the impact of the moving average support and the important dividing line on BTC, BTC has entered a downward range after the price fell. Before the price drops further, buying BTC needs to be very cautious. Because various information prompts us, the current chance of price increase after buying BTC is not very high.

In terms of mainstream currencies, the platform currencies HT and OKB rose in short-term protection, but their boost to the overall market was limited. This shows that the rebound of the three major platform currencies has stabilized the market on the surface, but has actually become a hedge for a few people. Therefore, investors who hold platform coins in the near future can still get profits.

Other mainstream currencies, such as ETH, LINK, ATOM, etc. Regardless of the trend of these currencies, you must be very careful when you increase your holdings. The volatility of these currencies is always at a high level. After the price amplitude increases, it will have a greater impact on the fluctuation of funds. It is the stage of carefully considering the transaction target after the price retracement, so pay attention to the price trend of mainstream coins such as BTC. There are still more opportunities during the period of weak shocks.


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