Grayscale continues to buy, but the market is still consolidating. Is Bitcoin going to change?
Tuesday, January 19, 2021, the seventh day of the twelfth lunar month [Gengzi Year’s Ji Chou Moon Dingmao Day]
Summary: How do you see the trend of Bitcoin? Will Bitcoin continue to rise? Will Bitcoin fall first? How long can Bitcoin go up? Why did Bitcoin dive 2,000 points in the middle of the night? What is the market outlook for Bitcoin? Is it up or down? Why does the market fall when I go long, and rise when I go short? Is the dealer staring at me?
Opinion: Grayscale BTC daily purchases far exceed weekly purchases at the end of 2020
On January 19, Danny Scott, CEO of CoinCorner, tweeted that in the fourth quarter of 2020, Grayscale purchased an average of $251 million in bitcoin per week. Last week, they bought $700 million in 1 day, and today, another $590 million, needs attention.
As of 11:45 on January 19, the BTC spot price was 36,640.03 US dollars, and the market was still in a volatile range. Looking at the chart from the 1-hour line, the KDJ and MACD indicators successively showed golden cross signals in the early morning, which successfully brought about a wave of rebound. However, at present, the BAR energy column has turned green, and the energy of the air force has turned weak to strong, and it will face a wave of correction in the short term. The J-line of the KDJ indicator quickly retreated after touching the overbought area, and the three lines overall went down, showing a tendency to cross, indicating that the probability of a callback in the market outlook increased. However, the overall BOLL band channel is relatively flat, the bell mouth is slightly tightened, and the transaction price gap is narrowing in a short period of time. The long-short willingness is not very strong, so the fluctuation range in the future market may narrow. Due to the increase in financing last week, Grayscale Trust increased its holdings of more than 16,000 BTC today, but the market did not show a pull-up style rise, but continued the trend of shocks, which may explain the short-term shipments in the market The demand is so huge that the buying volume of nearly 600 million US dollars was filled immediately, which may be seen as a signal that the recent market releases the pressure of the correction. At this time, the market has not clearly chosen a direction to make a breakthrough, and in the short term, it can be considered to wait and see with currency.
So how will the next market run? In fact, many friends know it, but they can’t believe it. Here, Yitian can tell you again that the general trend of Bitcoin is undoubtedly bullish, and spot friends can continue to hold it; contract transactions should still be based on low prices;
Although contract trading is mainly short-term, under the current market fluctuations like Bitcoin, it is easy to grasp the long-term layout of thousands of points or even thousands of points. The key point is to see if you have the confidence to hold it!
