1. BTC continues to recover
The daily K line chart shows that the BTC price started to rebound after reaching the middle track of the Bollinger Line, and the typical large-scale upward trend growth is confirmed. Recently, although the Federal Reserve has raised interest rates, it has little impact on BTC prices. Since the BTC's large-scale operation status has not changed much, the judgment of rebound remains unchanged. While paying attention to the short-term pressure level of $22500, pay attention to the large range rebound profit opportunity of $28308 above.
2. BTC Investors Focus on Spot Trading
After the confirmation of BTC bottom was extended for a long time, the buying and selling enthusiasm of spot traders was also growing, which led to positive changes in BTC prices. From the change of the ratio between spot trading volume and contract trading volume, the value has reached 0.439 on November 3. After the ratio of spot trading volume to contract trading volume reached 0.082 on May 2, the current value has returned to a high of 0.439, which is higher than 0.41 in July 2021. This shows that the spot price has a low absorption trading opportunity, and investors tend to buy in the spot market rather than contract trading.
3. ETH support is effective
The 4-hour K line chart shows that the ETH price is in good shape. The recent price correction period saw a large volume on November 3, and the rebound period saw ETH hit below $1600. ETH rebounded and rose along with BTC price. At present, the contract position is still at a short-term low level, which can confirm that investors are still keen on spot trading, making ETH price have a strong foundation.
4. BAND soars and the main force escapes
BAND has stabilized and recovered in the short term, and the price has risen rapidly. It only takes 28 hours to reach a maximum of $3.199 in the 4-hour K line. In terms of amplitude, BAND short-term fluctuation reached 183%. From the perspective of the main trading method, the price fluctuation of a large-scale test plate on June 9 reached 53%, while the price fluctuation on July 29 reached 35%, which is the second test plate. On November 3, the first 4-hour TULA BAND of the main force rose by 14%, so the next price rise will be more smooth.
5. Main position reduction of BAND
In fact, after the main force raised the price this time, it also prompted the shipping signal. The top 10 major holders of coins dropped from a short-term peak of 87.07% to a low of 85.73%. In terms of value, the top 10 major players in holding coins completed trading action by reducing positions by 1.34 percentage points. Therefore, the main force of this time is still characterized by price increase and position reduction. In particular, when BAND reached a peak value of more than $2.5, there was an obvious sign of large-scale position reduction.
