Large amount of capital outflow, BTC is likely to finish above $ 7,700 within a day

According to the OKEx spot display, as of the start of the European session, BTC temporarily reported at $ 9125.6 (0.44%). At 0am this morning, the price of BTC was suddenly pressured by a large number of selling, and it quickly fell below $ 8,000 from a high near $ 9,100. It is now temporarily stable above $ 7,700.

OKEx analyst Neo believes that the slight rebound last week was constrained by the sluggish volume and failed to show a strong rebound. It has always been difficult to stand firm at $ 9,100. The sudden increase in the funds sold this morning can reflect the panic in the entire market. Emotions, there is a tendency for major retail investors to follow. Once a certain unilateral market is not accompanied by an effective pullback or rebound, it indicates that the sentiment in this direction is very strong, and the trend is difficult to be reversed in a short time. BTC was short-term supported by the upper edge of the bottom box at the end of last year at $ 7,700. The probability of the currency price stabilizing and rebounding at this position is obviously higher than other positions above. However, the 4-hour level of sales volume has not decreased, and it should not be optimistically estimated. The rebound strength, short-term weak and strong resistance were around 8,000 US dollars and 8,250 US dollars respectively.