BTC continues to fall, risk of a sharp drop on MondayHello guys, welcome to my channel. I am a new blogger Crypto Hand. I use the shortest time every day to bring you the most practical information about the coin circle, stocks, and futures circle. However, I have to say that the following content is only for news, not for investment advice.
First of all, Let’s review Bitcoin’s price performance over the past 24 hours and analyze key technical indicators and market trends. If you like this kind of content, please like and subscribe, and let’s get started.
Data overview
Let's take a look at the data first. This week, Bitcoin continued to fluctuate at high points. The highest point reached $105,800, and the lowest point was $107,180, maintaining a narrow range fluctuation of 0.5%. At the same time, due to the result of the Sino-US trade negotiations, the market's positive sentiment is high, and US stock indexes rose one after another. Cryptocurrency-related stocks, such as MicroStrategy, broke through $420 this week, and Conibase soared 25% in one trading day last night, reaching $258.3. The market reflects a thriving scene, but whether such a pull-up can achieve an exponential increase still depends on the attitude of institutions.
In terms of trading volume, a total of 21,250 bitcoins were traded in the past 24 hours, with a transaction value of $96.7318 billion. Since it exceeded $100,000, it has been in a narrow range of fluctuations, but the daily inflow and outflow are not very large, indicating that the players making multiple transactions are basically old players in the currency circle, buying low and selling high. The trading sentiment in the market is still relatively calm. In sharp contrast, altcoins, led by Ethereum, have seen an epic rise in recent days, which may also be a signal of the arrival of the altcoin season.
Data Analysis
Next, we move on to the technical analysis. From the 4-hour chart, after a few days of consolidation, a support band was formed at the position of $103,000. When the price of the currency touched $105,800, it fell rapidly. Three consecutive negative lines plunged down to the position of $100,000. It was supported again when the US stock market opened. This shows that the current users who can buy bitcoins or new users are mostly in North America and Europe, while most users in the Asian time zone are mainly for selling. Judging from the existing graphics, the next trend is not clear. Whether the position above $100,000 can be maintained remains to be identified. The Asian time zone is mainly dominated by sellers, and the European and American time zones are mainly dominated by buyers. Which side will have more advantages need to wait for the release of fundamental information.
The current value of the market's panic and greed index is 74, which is in the greed position. The last time the market focused on the greed index, the price of Bitcoin was also at this position, and then it fell all the way after Trump took office. It is hard to say whether this time will be the same development path as the last time. The main difference is that there are no particularly major positive events at present. Unless Bitcoin starts a new cycle, similar to the market in 2021, $100,000 is the bottom of the new cycle, otherwise the decline is inevitable. Therefore, friends who are currently long should not be too greedy. We suggest to take profits in time to avoid risks as soon as possible.
Summary and predictions
In summary, Bitcoin prices continue to fluctuate at high levels. Asian traders are competing fiercely with European and American traders. For most Asian users, the main purpose at this position is to cash out, while North American and European users see various favorable policies and trade conflicts are also settled. The US stock market has also seen a wave of increases in the past two days, and more people believe that the price of the currency will continue to rise. Based on my personal experience, it is best not to enter the market with a heavy position right now. The Trump family's WLFI fund has already made a profit on cryptocurrencies. It is hard to say that they will not arbitrage at this position. The United States has only suspended additional tariffs on China for 90 days. Now it seems that the suspension will be extended after 90 days, but there are too many variables. If you want to enter the market at this position, you could try liquidity mining and mining machine. Leave a message below the video and we will give you a professional answer.
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So much for so today’s sharing. See you tomorrow!
