BTC Market Analysis- November 18th

 2020-11-18 10:30:24


Analysts at bexplus believe that after the price rose for three consecutive trading days, there was a short-term strong shock, and the fluctuation range increased to 5% within 10 minutes, indicating that the adjustment has occurred. Most cryptocurrencies have risen and fallen in a short-term, and LTC has retraced nearly 10% within 20 minutes. The market is obviously affected by short-term price fluctuations.

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Although BTC retraced quickly in a short-term, looking back at the price fluctuation process, the main force deliberately washed the market after the short-term lure up on November 18th. Through the magnification of the volume during the price retracement period, the washing has affected more investors, and the main force has reached the trading goal.

In terms of volatility strength, although the BTC retracement speed is relatively fast, the volatility strength is still within an acceptable range. At the same time, BTC had a strong shock in the day, and it has not clearly deviated from its closing price of US $17,657 on November 17th. As known, the number of active addresses reached 1.13 million on November 17th, thus many short-term currency holders appeared on November 17th. Short-term price did not break the previous day's closing price which is the result of strong bull.

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