Data show: BTC quarterly contracts consolidate around the 8500-9100 range

According to OKEx quarterly contract data, since the BTC quarterly contract price broke the US $ 9,350 long-short demarcation line on February 26, it has been oscillating and consolidating around the 8500-9100 range. During the period, the transaction volume has shrunk significantly compared to the previous period. Inactive.

OKEx analyst Charles believes that the current medium-term market trend (using the 4-hour chart as the basis for analysis) is still in a short position, because since the peak of the 11050 high in mid-February and the fall, the currency price has continued to show gradual highs. The downward trend is a typical feature of the bear pattern.

In addition, the combination of volume and price has not broken the trend of falling volume and rebounding. These phenomena indicate that the market is still not strong in actively taking long positions at this stage, so it is not recommended to chase up. In the later period, it is necessary to focus on the resistance near $ 9100. This price can be regarded as a new line of strength and weakness. If there is a significant increase in the price, the market may gradually break away from the weakness and return to the strength.

We must beware of a phenomenon of "false breakthrough", that is, the price of currency breaks slightly above 9,100, and the transaction volume has not been significantly enlarged, and then the price of currency quickly falls back below 9100 again. In this case, most of them are false breakthroughs. Do not blindly chase the upside. The market outlook will continue to be weak. BTC quarterly contract intraday resistance: $ 9,100, support: $ 8,730.