It Maybe The Best Time For BTC Investors To Build Positions
Citing the analysis of Jins, the in-house crypto analyst at CoinNess.com, from the trend of adjustment, the price of Bitcoin (BTC) has not shown signs of stabilization. The BTC price rebounded in the short run, which means that the decline trend led by the short positions did not continue to strengthen. Judging from this perspective, traders may have more time to judge whether to buy in BTC.
Usually, the change in trading volume, a relatively stable indicator, can be trading signals for BTC investors in the medium and long term. In particular, after the BTC has a rocketship growth to $14,000, the contraction will become a key indicator affecting the BTC trend in the short term.
Judging from the overall volume performance of BTC, the recent drop of prices has stimulated buying in, which has increased the volume of short-term trading. However, the duration is very short, and the recent 24-hour volume has shrunk to $13 billion, which is a sign that BTC is unlikely to get further increase in the short run. From the performance of the BTC volume on the crypto exchange Binance, the 10-day moving average of the exchange is significantly lower than the 100-day moving average, which lasted for nearly one month. It can be seen that the overall transaction volume and volume performance of BTC on different exchanges will not prompt BTC growth. On the contrary, in this state of shrinkage, it is more likely to be important buying points for investors before the bull market.