Crypto Market Analysis - July 24th

 2020-07-24 03:14:12



Bexplus


Bexplus


Judging from the price performance of the three trading days, although BTC has pulled up three times in a row, the trading volume has not had a better effect of increasing the volume. The 24-hour trading volume is below US$20 billion, indicating that the potential for price increases is still limited. At the same time, the short-term performance of ETH and platform currencies are relatively strong, but the growth of most currencies still needs to be reconfirmed for support.

Paying attention to the price trend of BTC, we can see that the main force has a better control effect during the three consecutive periods of heavy volume increase. This shows that it is difficult for retail investors to obtain income in the short term, especially short-term traders, who have limited profit margins each time. Only when the cumulative increase reaches a certain space can it be reflected in the income.

At the same time, pay attention to the short-term trend of BTC, which may be related to the short-term market of gold and silver. But BTC's gains were smaller. From the perspective of volatility, the amplitudes of three consecutive trading days were 3.1%, 2.6%, and 2.3%. Small volatility fast pull, reflecting the main trading characteristics of small control. At this point, BTC reached the closing point on June 22. Morphologically, BTC is still operating internally in a shock form.

In terms of mainstream currencies, the performance of hot currencies in the past three trading days was unsatisfactory. The most interesting thing is that the ETH market performed well, but it failed to drive the mainstream currency to go up substantially. At present, the strength of ETH is limited to its own price increase, and it has not extended its hot spots to other related currencies.

Next, the performance of BTC, ETH and platform coins will continue to affect market trends. In the process of market fermentation, none of the three will be absent.

Considering that the 10-minute K-line shock that started at 14:20 on July 23th, the high position of BTC changed, and the long-short contention began to ferment. Next, more intense fluctuations will guide the direction of BTC operation.

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