ETH steps on the 5-day line and fluctuates upward
Today's Information
Today's Information
Bitcoin's daily trading volume could surpass U.S. stock market in four years
Cryptocurrency data provider Coin Metrics predicts in its latest report that Bitcoin’s daily trading volume could surpass that of the U.S. stock market if growth rates are maintained. The report called Bitcoin an asset class with incredible growth potential due to low trading volumes compared to traditional markets.
According to data indicators, Bitcoin trading volume can not only surpass the U.S. stock market within 5 years, but also may reach 1 trillion US dollars in 2025. (Cointelegraph)
market analysis;
Yesterday, BTC broke through the upper resistance of the convergent triangle in a small volume, but the trading volume was unspeakably strong. Although the trend is currently supported by 9,750 US dollars for a short time, the probability of large fluctuations during the day is low. Although the currency price is supported by the key position of 9,400 US dollars, it may even There was a slight rebound, but judging from the bleak trading volume, investors should not expect too much a short-term rebound. From the beginning of the year after the failure of the first test of $10,500, the confidence of the bulls collapsed, and the second peak was blocked again in early May. This area has become a long-term bull market The biggest stumbling block at the beginning, however, is different from the rapid weakening after the failure of the first test. After the failure of the breakout, a narrow consolidation pattern has been formed for a certain period of time. From the point of view of form, there is a probability of continued breakout. However, the current trend cannot break through for a long time. The most fundamental reason is still the lack of new funds. The recent strength of some mainstream currencies has caused a large number of BTC investors to move their positions to strong currencies. This will greatly weaken the strength of the bulls. If the currency price falls below $9,750 this weekend , the trend is likely to continue to trade above $9,000.
The overall decline of ETH in the near future is not large, and the strong pattern has not been destroyed. It is temporarily supported by 240 US dollars, and the currency holder v:btc068068. If it falls below, it can be directly seen near the second support level of $234, and around $246 can be used as a short-term strong resistance to judge whether the trend has a basis for testing the previous high. XRP continues to consolidate in a narrow range, and the first resistance level of $0.2080 is still valid. Given that the bottom support of $0.1920 is becoming stronger, the probability of continuing to break through the test of $0.2150 in the future is high.
ETH operation suggestion:
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