1. BTC weekly break to Fibonacci 61.8%
With the continuous expansion of the decline, BTC entered a new price range during the heavy volume decline. From US $17245 to US $28307, it is the potential fluctuation range of BTC at present. Since the trading volume began to increase significantly, it shows that investors have entered the active trading stage. At this stage, the main reason is that the decline in prices has promoted the improvement of activity, and the time to really complete the chip conversion will be longer.
Recently, the clear trading position of the main force continued below $30000, and the number of large transactions reached the highest peak on May 10, indicating that $30000 is very important to investors. As the daily K-line price is about to fall below US $28307, in the new price range, the important support also depends on the US $17245 corresponding to 78.6% of Fibonacci.
2. Medium and long term investors lose out
SOPR proportion is the index of long-term output profit rate, which refers to the ratio of output consumed in the window period (life over 155 days) to profit. When the SOPR index is higher than 1, it indicates that the medium and long-term investors who hold money for more than 155 trading days are profitable trading. The SOPR index has recently continued to fall below 1. The share of sorp on May 11 was 0.814, indicating that long-term investors are trading BTC at a loss. BTC fell below $30000, and the flight of long-term investors means that it is getting closer and closer to the bottom.
From the perspective of transaction, BTC is in the area with relatively high fixed investment value.
3. BTC financing costs are falling
With the continuous expansion of the decline, the financing purchase cost of BTC has actually retreated significantly. Numerically, the BTC financing cost prompted on May 11 decreased to -0.0245%, the lowest value in a year. From the perspective of low absorption opportunities, there are still many opportunities to buy BTC. In particular, investors can pay more attention to the numerical performance of financing costs. If they can run more trading days at a low level, BTC will have the opportunity to buy at a lower price.
4. Eth bottom construction in small and large scale
From the perspective of trading volume, the weekly trading volume is continuing to rise. At present, the weekly trading volume is expected to reach the highest level in one year, indicating that eth has changed hands relatively fully in the past week. However, compared with the trading volume before May 2021, the cumulative volume of current trading volume is reduced, and the bottom of eth volume needs more trading days to be confirmed.
At the same time, if the weekly trading volume of eth can continue to reach an all-time high, it can effectively verify the recovery of investors' trading enthusiasm, and the bottom of the prompted price is more effective.
