Crypto Market Analysis - July 29th

 2020-07-29 02:43:24

Bexplus


Bexplus


Judging from the performance of mainstream currencies following the rise of BTC, after the short-term gains of most currencies have significantly expanded, the signs of heavy volume increase are very obvious. At this time, after a short adjustment for one trading day, the BTC form remains intact. This shows that BTC may have the possibility of a second start.


A large part of investors who pay attention to the trend of BTC are long-term holders. These investors are less sensitive to prices and will not sell a lot during the BTC rising period. Reluctance to sell will increase the growth space of BTC. In fact, the BTC volume increased this time, and the highest transaction volume was far below the average level in March. This shows that the rapid rise of BTC has not triggered a wave of selling.

At the same time, the short-period K-line chart also shows that the time for BTC to sell and increase volume is relatively short, and most adjustment periods are in a state of shrinking volume. Therefore, BTC will enter the price range of $11,515 to $13,968 at the next point. The selling pressure in this range is far less than the price range of $9,542 to $11,515. Therefore, it is not unattainable to predict the bull market increase of BTC to reach 20,000 US dollars.

In terms of mainstream currencies, with the exception of ETH, the increase of most currencies is far from the high price in 2020. Therefore, only the extension of the BTC sideways trading time will give the mainstream currency a rotation opportunity to make up for the increase.

At the same time, the market value of BTC has rebounded by more than 2 percentage points in the short-term, accounting for 63.56%. At this time, it is predicted that the market performance of BTC during the year will still be better than most other mainstream currencies. In the process of following the rise of BTC, the top ten currencies may rise more than BTC, but investors who hold coins for a long time may not earn more than BTC holders.                                

P/L calculator
Margin calculator
Direction
Token:

Open price:
Close price:
Volume:
Position days:
Profit:

0.00000000 BTC

Profitability:

0.00 %

Amount required (margin):

0.00000000 BTC

Service charge:

0.00 BTC

Daily interest:

0.00 BTC

Token:

Volume:
Occupation margin:

0.00000000 BTC

Real Time Exchange Rates:

BTC/BTC