1. BTC weekly break to Fibonacci 61.8%
The typical trading position of BTC is just after the breakup of BTC. This shows that the US $28307 corresponding to 61.8% of Fibonacci is indeed a typical fixed investment price, but it has not further suggested the possibility of upward price reversal.
From the perspective of fixed investment, investors near us $30000 can partially buy BTC. The more important opportunity of low absorption can occur during the low shock of BTC. If $28307 is a reversal position, then this reversal will not be a simple rebound trend, and there is a great possibility of horizontal consolidation at the bottom. Therefore, there is no rush to enter the market for heavy positions at one time.
2. 4-hour map startling and volume signal
Generally speaking, the heavy volume during the decline of BTC is a signal of sufficient chip turnover, which helps to reduce selling pressure and confirm the bottom position of the price.
In the 4-hour K-line diagram, BTC has conducted centralized volume release at least twice, and the most important volume appears near the price of $30000. This large-scale effect is equivalent to the trading volume in May 2021, which is the most important large-scale performance in the past year, indicating that some investors have embedded admission funds and grabbed cheap chips.
3. The selling pressure brought by the main force of the exchange is large
From the selling performance of the exchange, the main force plays a great role in it. The proportion of whale trading on the exchange soared to 0.692 on May 9, indicating that nearly 70% of the selling pressure comes from the main capital. In terms of absolute proportion, 70% of the selling pressure on May 9 came from the main force, which has never happened in the past two years. On April 10, the main selling pressure of BTC exchange accounted for 72%. From April 10 to May 9, the main short positions have a far-reaching impact on the market.
4. Short term investors fled at a loss
The SOPR proportion of short-term investors decreased significantly on May 9, reaching a low of around 0.935. Based on this, it is judged that the overall loss trading of investors in transfer trading. The SOPR proportion of short-term investors reflects the market performance of investors holding currency within 155 trading days. The proportion of SOPR decreased to 0.935, which means that investors who have held money for 155 trading days have traded BTC with an overall loss of 6.5%, which is a very typical meat cutting performance. Once the medium and short-term investors start to cut meat, the process of loss trading will continue for a period of time. Until the bulls can cope with the selling pressure, the price may reverse upward.
