Analysts at Bexplus believe that the room for price rebound of BTC has increased, and the price has once again risen above $19,000. The 24-hour volume rebounded to $26 billion, indicating that the bulls did not enter the market in large numbers, but the BTC price was more elastic.
The BTC price started to rebound but its trading volume did not increase a lot, showing that current adjustment may continue. At the present daily K-line chart, BTC price has a further potential volatility, which minimum is from $18,795 to below $20,000. Investors can wait for the relief of the selling pressure.
In terms of currency holding costs, the number of BTC's chips has increased significantly when the price is around $19,000, which is the largest currency holding cost area comparing to the chip peak when the price is between $10,000 and $15,000. Therefore, it is necessary to absorb the selling pressure before leaving the area.
In terms of large BTC holders, the number of BTC held by the top 100 investors has rebounded significantly, and the number of holders of the top 50 investors has also increased, which is a signal of further increase in BTC concentration. Usually, the increase in the holding number of main holders reflects the signal of absorption and is the basis for further price recovery. Therefore, pay close attention to the short-term price trend of BTC.