Crypto Market Analysis - November 10th

 2020-11-10 09:42:02

Analysts at bexplus believe that: BTC rushed higher and lowered on November 9th. A simple inducement of more and more volume appeared, and the market quickly turned down. The price fluctuates rapidly, making investors who chase up the transaction all locked up. In the recent period, the short-term pursuit of rising prices must consider the risk of price fluctuations, and the breakthrough of BTC at key points still needs to be ready.

The 15-minute K-line chart shows that BTC increased in volume at 19:50 on November 9th, which will undoubtedly be very attractive to investors. After chasing the rise, BTC turned down sharply, and fell back to a minimum of US$14,813 after the strong fluctuation.

The number of active addresses reached 1.2 million on the 9th, almost reaching the highest value in history. The significant increase in the number of active addresses indicates that more investors choose to trade BTC at a high level when the BTC rises and falls, and the scale of the jail disk during the natural heavy volume phase will also be very high.

It is an indisputable fact that BTC is highly active, but the increase in the number of investors locked in during the period is undoubtedly a signal of the continuation of the adjustment. On the daily line, the BTC amplitude reached 6.7%. The high amplitude indicates that the adjustment may take more trading days to complete.


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