Still Waiting for Bitcoin Whipsaw to Confirm the Price Direction

 2021-03-10 09:14:38

Analysts at Bexplus believe that from the perspective of Bitcoin's volume and price performance, under the background of a slight rebound in volume, it is still difficult for the price to break through. The selling pressure is released in a short-term, and the BTC amplitude increases at the same time, which is more likely to cause the price to fall at this time.


From the performance of the number of active addresses, the number of active BTC addresses fluctuates less and less since February 1st. This shows that the trading enthusiasm of investors is maintained at low volatility, while the trading enthusiasm is not low. In this case, any price changes of BTC may trigger unilateral price quotations.


In general, the price of BTC has reached around $55,000, and there is little room for confirmation of fluctuations. Only by making a breakthrough in price can we get rid of the recent adjustment pattern.


DISCLAIMER: The 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. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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