Falling is not that simple! Active main force has bucked the trend to 2.05 million BTC

Falling is not that simple! Active main force has bucked the trend to 2.05 million BTC

The number of addresses is 3EaWcuNXQrW2JTGy5Cotm4pftovW8UfR2o, the main force against the trend to buy BTC, perhaps most investors do not understand the reason for its operation, but in fact the position is indeed improving. Since the number of coins held on June 15th reached 4,433 BTCs, the number of BTCs has increased by as much as 20,500. Considering that the number of BTCs has reached a new high in the number of coins held on July 12, July 14 and July 16. In fact, the account is increasing its holdings of BTC.

It can be seen that this is very different from the investors who sell BTC.

More importantly, the number of transactions on the 30th was counted and the account was traded 5,114 times. It can be considered that the account is likely to be the main force of active trading.

Falling is not that simple! Active main force has bucked the trend to 2.05 million BTC

Looking back at the recovery process of BTC, in fact, there are obviously three platforms running in the near future. The A position is the sideways platform that was confirmed after the price broke on April 2nd. This position is a cost-intensive area for investors who are buying BTC.

Next is the B position, where the main chips are still heavily distributed. If the BTC falls to this point, it will definitely gain strong support. In terms of volume, the volume of BTC transactions since May has been relatively high. Even if the BTC fell sharply, it would be difficult to fall back to the price level at the beginning of May. What's more, under the expectation of halving BTC, the bullish investors are actually a lot. The decline from the 14,000 US dollar decline is large, and the selling pressure to reduce future price increases must be positive.

The highest C position is the chip-intensive area during the chase period of small and medium-sized investors, and the price fluctuation space in this area is large. The reason is that BTC has not yet prepared for a one-time surge into the bull market. Although the BTC has rebounded from a minimum of $3,155 to around $14,000, it is unlikely that investors with $14,000 will be able to get out.

Of course, unless this part of the insured investor will continue to buy BTC at a low price, and the bottom-end cost of the coin will be less than $14,000, then it will be profitable.

Falling is not that simple! Active main force has bucked the trend to 2.05 million BTC

Regarding ETH, the price has fallen back to around $190. We observe the price trend in the early period, we can see the price range from 142 US dollars to 190 US dollars, which is a relatively strong support level. Before ETH broke through $190, there were three breakthroughs in this price range. It can be seen that the breakthrough can be seen as the most supportive point.

ETH fell back to $190, which is also the price of Fibonacci's 61.8% split line. Even in very pessimistic circumstances, a rebound from the location of the dividing line will occur. The rebound of the previous July 15th, although the form of the following shadow line was completed, does not rule out the situation of ETH's second rebound. (CoinNess)

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Market

Shocking Revelations! Crypto Exchange News Listing and Delisting Announcements for December 4, 2023

Attention, Fashionistas! Feast your eyes on our latest roundup of cryptocurrency exchange updates from the past week,...

Bitcoin

AI Trading Bots: Don’t Fall for the Hype!

The United States Commodities Futures and Trading Commission recommends that crypto investors avoid being lured in by...

Opinion

Navigating the Cryptocurrency Rollercoaster: Strategy as an Art Form

Crush the Crypto Game Essential Tips for Thriving in a Bull Market and Maximizing Profits

Blockchain

Babbitt Column | Is Quantitative Trading in the Blockchain Really Reliable?

Editor's Note: The original title was "Quantitative Transaction on Blockchain" I. Causes A couple of d...

Opinion

How to effectively hedge USDT risk on the chain when unexpected events occur?

USDT's share in Curve 3pool has exceeded 70%, causing concern for some. How to minimize risks in case of emergencies?...

Blockchain

Bitcoin price rushes 10,000, why is the peak of the on-chain data week two days ahead?

In the past week (02.03-02.09), Bitcoin opened a wave of market and broke through the $ 10,000 mark again, but from t...