1. 4-hour chart, BTC volume withdrawal
During the horizontal consolidation of BTC, the fluctuation space is small, but the price retreats frequently, which also brings trading pressure to more investors.
At present, BTC's short-term trading profit space is obviously insufficient. The price retreat speed in the 4-hour K-line chart is fast, which depresses the profit space of investors.
Judging by the interval fluctuation, the low fluctuation operation characteristics of BTC continue. In addition to bargain hunting, investors with heavy positions can pay close attention to the possible breaking signals of BTC. After all, there are still a large number of investors in loss making transactions, and the bottom confirmation cycle will be prolonged. In terms of support, BTC has frequently approached the US $28307 corresponding to 61.8% of Fibonacci in the near future, but the rebound intensity is weak. Be vigilant that BTC falls below the expectation of this support.
2. Increase in the number of contract positions
In terms of the number of positions burst, the number of positions burst in the overall market rebounded slightly on May 23, and the scale of long positions burst is still higher than short positions, which is related to the rapid withdrawal of BTC in the short term. On May 23, the overall position of bulls burst $146 million, a significant contraction compared with $570 million on May 20. On the trend of long position explosion, since April, the scale of long position explosion is often significantly higher than that of short position explosion, but the scale of long position explosion has narrowed recently.
In terms of positions, after the number of long holders decreased, the explosion scale of BTC and mainstream currencies guided the overall explosion decline. The main currency volatility retreats, which means that the market may change further.
3. Global market
The global market has been shaken recently, and the US dollar index is still higher than 100 points, which is currently around 101.7 points. The dollar index recently retreated from its high of 105 points. On the contrary, gold and crude oil prices rebounded. U.S. stocks fell in a short-term shock, BTC's recent weak consolidation, and there is a rebound expectation during the sideways operation. However, considering that the gold absorption effect of the US dollar is still strong, there will be great uncertainty at the bottom of BTC.
4. Longhubang:
Due to the obvious low-level operation characteristics of mainstream currencies, most of the currencies with the market value of the top 100 have limited growth. LRC and xtz performed better in the ranking list. After LRC fell from the highest $3.50, although the price rebounded slightly, the room for increase is still very limited.
Increase list
XTZ
Xtz has ranked high in terms of growth in the past 24 hours. During the continuous decline of its price, it has already continued the signal of obvious volume reduction adjustment. The daily trading volume decreased to a very low level, suggesting that the selling pressure of xtz decreased significantly. From around $3.50 of xtz, the decline in trading volume means that xtz's recent increase is expected to increase.
Decline list
The decline of mainstream currencies in the list is staggering, and the declines of Zec, sand, avax and GRT are relatively large, indicating that the overall market is in the adjustment stage, and currency holding investors properly control their positions.
