Bitcoin's weekly and monthly lines

01-24 10:5161806


The daily line of BTC shrunk to Xiaoyang, the moving average was short, and the 5th line was suppressed (36850). The contract position is still high, indicating that the current decline has not seen a series of liquidations.

BTC’s weekly heavy volume closed with a long yin, and the lower shadow line is very short, which cannot rule out the possibility of further decline.

BTC will close the monthly line, and the current market has fallen to the monthly mid-track (35236). Looking back at history, after the Bitcoin market returned to above the mid-track in May 2019, except for a short break in March 2020, there has been no change so far. Substantially fell below the monthly mid-track. When the market closes in January, will it fall below the middle rail?

Today's fear index is 13, extreme panic.

Summary: It should be the bottom range at present, but it may not be the lowest point. Generally speaking, the position of the lowest point is often formed by a series of contract explosions. Now the contract position is still at a high level, and there is no obvious decrease, that is to say, it has not yet appeared. The situation of large-scale liquidation. The long-yin weekly close also indicates that there is a possibility of further decline. The current spot can be considered for fixed investment, but the contract still has high risks.


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All Comments(2)

Shabu Town Shiba

Shabu Town Shiba


01-24 10:57



The pace of institutional investment in Bitcoin has not stopped

01-24 10:56
No More

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