The cow is turning around? You have to pay attention to these signs this week
According to the Bitcoinwin digital currency platform market, BTC was affected by some positive factors last week. The BTC market rose mainly in the first half of the week, which was also affected by some positive factors. , the market fell to around 33,400 at the weekend.
With the infinite decline of Bitcoin, the market also began to fluctuate and rise on Monday afternoon. As of now, Bitcoin has returned to above 36,000.
Under the current general environment, supervision is tightened, and governments of various countries may introduce corresponding regulatory measures in the future. Under such a background, where will the entire digital currency market go in the future?
As the country, including many other countries, has recently adopted certain regulatory measures on the digital currency market, the entire cryptocurrency market seems to have fallen overnight, but at the same time as the regulation has become stricter, some countries have begun to implement it for the digital currency market. Transactions are "legalized", so that the future digital currency market will also be healthier.
Looking at the moment, the stricter policies will still consume a certain amount of time to affect a market trend in the digital currency market.
For example, the country has released a signal of strict supervision and risk prevention, and investors are generally pessimistic about the market outlook.
On the surface, bitcoin has fallen from around US$59,500 to a minimum of US$29,000. There are two important triggers, namely: one is Tesla CEO Musk’s “rebellion” based on the fact that bitcoin is not environmentally friendly and bitcoin The second is that the three domestic financial industry associations jointly announced that financial institutions should not participate in virtual currency-related businesses, which made the bitcoin market take a sharp turn for the first few days after the announcement, until it reached a minimum of 29,000 US dollars.
The regulatory storm hits, the exchanges are on thin ice, and they dare not slack off. Financial institutions retreat crazily and liquidate their positions violently. When retail investors see such a market, they blindly follow the trend and flee. As a result, the market went down rapidly, and everyone must have had a deep understanding on the day of 519.
The so-called existence is reasonable. Digital currency, especially Bitcoin, has unique financial attributes and exists today. We don’t know where it will go in the future. However, at present, after the regulatory turmoil, the entire digital currency market will be healthier and investors’ interests will be able to be better protected.
Under the background of stricter supervision, naturally many investors have reduced their positions or cleared their chips in consideration of many risk factors, which will also have a great impact on the future market. We can find clues through the data on the chain.
First of all, it is the flow of BTC on the giant whale account.
Through the data on the chain, it is found that, firstly, the top 50 currency-holding addresses declined last week, and secondly, last week, Bitcoin whales traded 179,351 BTC through 48 participants, of which 73.31% (131,488 BTC) was in Moved between unknown wallets within four days. The third point is that the giant whale account has accumulated a total of 68,855 BTCs in the last week, and 63,370 BTCs were transferred from unknown wallets to exchanges.
The activity of the giant whale account can be clearly reflected in the market, because the current liquidity of the entire digital currency market is still relatively weak. Therefore, the increase and decrease of the giant whale account is still critical to the future market trend. At least it represents the long-short attitude of institutions or super-large investors towards the current market. Therefore, with the continuous selling of giant whale accounts, in this era when funds are king, the market may still fall sharply, and low points may still appear.
But from a technical point of view, the market may rebound in the short term.
From a technical point of view, the general trend is downward and difficult to change, and the short-term trend may usher in a rebound.
Looking at the monthly line, the overall trend has also begun to turn downward. Although the market is currently above the 10-day line, there was still a breakout in the monthly K pattern last month. On the weekly line, there have been three consecutive negatives, and the three negative columns are accompanied by the increase in volume energy at the same time. Multiple moving averages form a downward trend of a dead cross.
The figure below is a daily level analysis chart.
At present, the daily market is still in the adjustment wave. The small rebound in the past two days was obviously suppressed by the 5-day line, but yesterday's rebound still broke through. Then comes the next pressure, the Bollinger Bands' middle track is suppressed, and the position of the middle track is also near the 40,000 full mark. Therefore, the superposition of double pressure will also form a strong pressure belt. It is not easy for the market outlook to break through this mark.
Looking at the lower support, the lower 29000 is not only a low point of the "519" market, but also a low point of the market correction in January this year. With multiple bottom supports, it is not easy for the market to fall below. In addition, in the past two weeks, the market has been constantly testing the bottom support, but each time the low point is higher than the previous low point, and the low point is constantly rising, so a big rebound will come. As for the rebound to Where, it still depends on the result of the game between the long and short sides.
Based on the above analysis, it is believed that in the long run, BTC’s market is difficult to change downwards. If it wants to rebound upwards, it will take a long time to repair various indicators. In the short-term trend, the market may usher in a wave of rebound. This week, we can pay attention to the position of the middle track of the Bollinger Band at the daily level above, or the pressure near the 40,000 mark.
