From July 20 to the present, Bitcoin has risen from around $29,000 to $48,000, an increase of 60%. This kind of market has just started recently, and it also means that the daily bullish market has started. Moreover, the bullish signal on the market is currently strong, and at the same time, different levels of cryptocurrency destruction have occurred, which is also a bullish factor.
First of all, from the perspective of the weekly level, since the $41,000 break and rise, a bullish trend has been formed, but it is not a bullish trend. The MACD does not fit the 0 axis, which means that the bears remain unchanged.
It can be seen from the volatility in the past few days that the market at this time is likely to be at the end of the upside. The daily line is heavy, and the KDJ divergence phenomenon has gradually appeared. The k-line has gradually oscillated, and the rising rhythm has been disrupted, and the volatility has increased.
Advice from Bexplus' analysts on the direction of trading operations: In the day, it is mainly to fall short, and there is a possibility that a short market will form again near $48,000. In the short market, it is not advisable to buy the bottom too much to see more. Even if it is a bull situation, it is still a small level to see long. If investors want to long in the big band, they might need to be cautious.
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.