1. BTC retests low point support
The BTC price fell for the second time in the daily K line chart. The price reached a minimum of around $15815, indicating the support effect of $15588 in the early stage of the test. Judging from the rebound performance of BTC, the price trend is still weak. The daily trading volume is not high, which makes the recent market still in the weak consolidation stage, and does not rule out that the closing price will reach a new low.
In terms of pressure level, BTC is still operating below the corresponding US $17246 of 78.6% in Fibonacci, so we can continue to pay attention to the pressure level performance of BTC rebound. It is still predicted that the price will remain below the pressure level.
2. BTC long-term investors continue to flee
With the deepening of the adjustment, investors who have held coins for more than 155 trading days continue to flee and transfer BTC in a loss state. According to this judgment, the BTC price decline has not ended, at least the selling pressure remains at a high level.
The proportion of SOPR reached 0.370 and 0.367 on November 17 and 18, and the loss space of long-term investors was more than 60%. Therefore, under the condition that long-term investors continue to change hands, the BTC price has less opportunities in the near future. The SOPR index of long-term investors reached the lowest level in three years, and the market is still dominated by adjustment.
3. ETH short line retreats to support position
Different from BTC, the ETH price reached near the support line during the pullback period. The corresponding US $1106 support of 78.6% in Fibonacci was strong, which has become the real point of short-term price strength. In fact, the ETH price is near the low point in the past six months, so it is necessary to break through the support line before further breaking. At present, the ETH price trend is weak, but the decline is still controllable. Therefore, we can continue to focus on trading opportunities near the support line.
4. ETH financing interest rate is still low
The ETH financing interest rate operates at a low level. In terms of value, it still remains below 0 in the near future. This shows that, after the full decline adjustment in the early stage, the long short strength has been reflected in the near future, and the bulls have not actively copied the bottom, indicating that the ETH price will maintain the bottom area operation in the near future. In terms of absolute value, the financing interest rate of ETH in the past six months was -0.199 on September 15 and 0.062 on November 10.
5. The main performance of CHZ is low
The short-term price performance of CHZ, a fan token, is relatively low. At the same time, among the top 10 to top 100 players, there is a sign of a decline in the stability of these players. Judging from this, CHZ price trend still shows a significant retreat. However, there are still signs that investors are actively buying, and the financing interest rate has reached 0.0309%, the highest value in the year, which is very indicative of the problem. Considering that the price is at a low range below US $0.2, we can actively focus on the opportunities of low absorption.
