$20,000 has become a partial pressure level for BTC, waiting for direction confirmation

 2020-12-07 09:09:53

After the short-term volatility of mainstream cryptocurrencies weakened, the trading volume gradually shrank. Analysts at bexplus believe that BTC and most mainstream cryptocurrencies are currently in a state of approximate long-short balance, and the speculation of direction requires more effort to confirm. During the period of shrinking volume, BTC's volatility is not high, and short-term pull-ups have a weak impact on BTC price trends. Long and short seem to have reached a state of short-term equilibrium recently, and the shrinking adjustment is not good for breaking through the $20,000 mark.


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In most cases, the shrinkage adjustment will become an early stage that is ready to go. But if investors take the opportunity to cash in on their gains, it will lengthen the adjustment cycle. From the perspective of trend trading, it is now a rare opportunity to shrink and lower in the upward trend this year. According to the logic of heavy volume after the adjustment, BTC and mainstream cryptocurrencies are in a position of buying opportunity.

 

On the whole, if BTC trades sideways in the short-term, the market is still limited to shocks and adjustments. There are fewer signals for direction confirmation, and waiting and waiting are the only options in the near future. After all, in the case of small price fluctuations, the risk of continuous trading at the same point is higher.


Tips: Quotes are time-sensitive, and please pay attention to take good risk control and make good use of "Take profit" and "Stop loss".

The technical analysis of cryptocurrencies in real time should be taken for informational purposes only, and in no case should it be taken as an investment signal.

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