[Key interpretation] BTC's selling pressure has been reduced and breakthrough has been brewing, and DOGE has been bullish for several consecutive days

JinsPublished on 2022-11-30Last updated on 2022-12-01

Abstract

The rebound space of BTC has increased, and the signs of price rising are clear.

1. BTC rebounds to challenge the pressure level

For the first time, the BTC price rebounded after falling below the $17246 corresponding to 78.6% of the support level in Fibonacci. On November 30, the BTC short-term rebounded 4.4%, reaching a maximum of $17162. Before the price breakthrough, pay attention to the low absorption opportunities of BTC. At present, in the daily K line chart, the Bollinger line has been in a closed state, and the possibility of choosing a direction in the near future is very high.

2. The proportion of BTC transactions decreased

The selling pressure of the exchange has remained low recently, especially the total coin amount of the first 10 transactions flowing into the exchange is low, which is different from the strong rebound performance on November 18. Judging from this, BTC's short-term selling pressure decreased slightly, which supported the price rebound.

Since May 2022, the total proportion of the first 10 transactions flowing into the exchange has risen significantly for four consecutive times, and reached a peak of 144000 on May 9, June 18, September 14, and November 18, respectively. The recent average of indicators is low, indicating that the rebound may continue.

3. KLAY short-term rebound improved

KLAY's 4-hour K line chart shows that KLAY has accumulated very high trading volume during the period of price rise after the rebound trend that began in October in the early stage appeared. Therefore, KLAY has been in the second rising stage after the end of the rally, and can continue to pay attention to the performance of price increase. At present, the trading volume of KLAY in 4 hours is not high, the price rise is stable, and the breakthrough effect of the pressure level of USD 0.2 can continue to be concerned. On the message side, the beta version of the decentralized governance portal, Klaytn Square, was launched to promote governance on the chain. The news has stimulated KLAY's price changes. At present, the price activity remains at a high level, which is likely to continue to rise,

4. UNI financing interest rate rebounded

In the process of increasing the activity of the K line on the UNI day, its financing interest rate rebounded slightly. The value was not only close to 0.02%, but also maintained at a high level in the near future. This shows that the selling pressure of UNI may have decreased significantly, and the trading volume of UNI has also maintained a high level in the past six months. At present, the rebound potential of UNI is high, and breaking through the pressure level of $8 may open up further performance.

5. DOGE continuous anode and cathode

DOGE is currently in the stage of continuous rebound. The daily K line chart shows that it has completed the bullish pattern of positive line including negative line for three consecutive times. In terms of financing interest rate performance, on November 29, the DOGE financing interest rate significantly retreated to around -0.0541%, the lowest value since November 12. DOGE short-term selling growth, pay attention to the fluctuation opportunity of USD 0.1.

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