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

Blockchain

USDT Thunder, how big is the impact on Bitcoin?

Recently, Tether, which is subject to additional disputes, and its associated head exchange, Bitfinex, have contracte...

Blockchain

If 21 million bitcoins were evenly distributed to the world's 7.8 billion people, how much would each person get?

As we all know, Bitcoin is one of the most scarce assets in the world. But have you ever wondered how scarce this lar...

Blockchain

Coinbase launches batch trading function, handling fees drop by 50%

Cryptocurrency exchange Coinbase has finally enabled batch processing of bitcoin transactions on its platform. As the...

Blockchain

What is Bitcoin? He gave a near-perfect answer before the US Congress.

The Coin Center in Washington, DC is a non-profit research and lobbying organization. Its main goal is to focus on cr...

Blockchain

Blockchain Industry Weekly | Contract regular army Bakkt, leek savior or harvester?

Guide Late at night on August 16th, Beijing time, Bakkt, a digital clearing futures platform under the Intercontinent...

Blockchain

The 18 millionth BTC has been dug up, and the "empty anxiety" is the true eternal story of Bitcoin.

Around eight in the morning, the 600,000th block was dug up. One question many people like to ask is "How much b...