[Key interpretation] The cost price of 1.1 million eth suggests rebound space, and BTC tests the pressure level

HuobiPublished on 2022-09-09Last updated on 2022-09-13

Abstract

BTC and eth rebounded one after another, predicting the growth potential in advance.

1. BTC volume rebound

The BTC price is still near the lowest value in one year, so the recent continuous increase in trading volume indicates that more investors are participating in the trading. Therefore, BTC will start to rebound after the closing low of $18790. After the short-term rebound strength increased, the price reached above $20249 corresponding to the middle rail of brin line. Judging from this, the market is at the node of technical rebound. Considering that the cost concentration is high, the rebound can focus on the performance of BTC relative to the recent transaction cost price of investors.

2. BTC transfer quantity rebounds

After the number of BTC transfers reached 17.68 million on June 15, the number of BTC transfers has remained stable in the near future. On September 6, the number of BTC transfers increased to 6.43 million, which was a high trading day. From the distribution of the transferred quantity, BTC's important cost price can be focused on the corresponding closing price of $22555 on June 15. The recent price fluctuation of BTC basically revolves around us $22555. Whether the price can be successfully broken through is one of the keys to confirm the growth potential.

3. The unrecognized loss of BTC is large

As the BTC price has been running at a low level for a longer time, the scale of unconfirmed losses has not fallen back, and there is still a large rebound space. Numerically, the proportion of unconfirmed loss scale of BTC represented by nul index can reach 0.48. Although it is lower than the previous peak of 0.56, the absolute value is still high. Therefore, it is difficult to increase the BTC technology in the rebound stage. There are many trapped orders. At present, the continuous accumulated trading volume in BTC spot is beneficial to reduce selling pressure. With the trading volume remaining at a high level, higher trading volume will likely drive the BTC price up.

4. Eth price rebounded slightly

As the trading volume remains stable, the ETH price has now reached near the brin online track, and the space for further increase is expected to be further released. At present, if eth can maintain its strength above US $1607, its short-term rebound space is expected to grow. In terms of pressure level, signs pay attention to the corresponding US $1910 of 61.8% of Fibonacci, which has a large selling pressure. It is not only the pressure level confirmed by the rebound in the early stage, but also the point that must be broken through this time.

5. Eth turnover rate increased

With the growth of the number of eth transfers in the short term, the turnover rate before the market change is also improving. Judging from the average number of eth transferred by eth, the value reached the peak of 1.099 million and 889 million on July 26 and August 4, respectively. Judging from the scale of the one-day numerical value, it clearly exceeds the peak that occurred in 2021. Therefore, the corresponding eth closing price of $1449 on July 26 is an important cost price in confirming the holding of coins after the change of hands of the main players. At the same time, the closing price of eth on August 4 of 1607 dollars is also very important. When judging the recent eth price trend, these two cost prices have a greater impact on the market.

In the short term, the number of eth transfers rebounded slightly, with limited impact on the cost of holding currency.

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