Is BTC about to rise?
Looking at the daily line on the left, we can clearly see that BTC is coming out of a potential double top structure.
Then it fell below the neckline around July 4th to 5th.
But in the next few days, it turned into a bottom flip and the double top failed.
And looking at the perimeter on the right
The short-term EMA did not fall below the medium-term EMA
At the same time, the trading volume in these two weeks was significantly lower than the trading volume in the previous rise.
But it can pull the price up from the panic and short sentiment in the market.
So I think this is the main force in the market cleaning up the retail investors who entered the market in the last wave.
and allow them to get more chips
At the same time you can see there is quite a lot of buying around 59000
Therefore, I think the next trend should be two types
1. After breaking through upward, the pressure goes back to about 70,000 and then continues upward (red arrow)
2. Go down close to the bottom of around 59,000 until the main force absorbs enough chips and then goes up (blue arrow
#The cryptocurrency market has high risks, please carefully evaluate operational risks
This analysis is a personal comment and does not constitute any investment advice, so please refer to it with caution.
Then it fell below the neckline around July 4th to 5th.
But in the next few days, it turned into a bottom flip and the double top failed.
And looking at the perimeter on the right
The short-term EMA did not fall below the medium-term EMA
At the same time, the trading volume in these two weeks was significantly lower than the trading volume in the previous rise.
But it can pull the price up from the panic and short sentiment in the market.
So I think this is the main force in the market cleaning up the retail investors who entered the market in the last wave.
and allow them to get more chips
At the same time you can see there is quite a lot of buying around 59000
Therefore, I think the next trend should be two types
1. After breaking through upward, the pressure goes back to about 70,000 and then continues upward (red arrow)
2. Go down close to the bottom of around 59,000 until the main force absorbs enough chips and then goes up (blue arrow
#The cryptocurrency market has high risks, please carefully evaluate operational risks
This analysis is a personal comment and does not constitute any investment advice, so please refer to it with caution.
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