1. The trend of BTC is still low
BTC stopped near the key resistance level. The horizontal market has been running for 7 trading days, and there is still no sign of upward breakthrough. For the pressure level of USD 17246 corresponding to 78.6% of Fibonacci, BTC's current trading volume has not been enlarged, which means that the bull action is limited. Considering the sluggish performance of the main players in the chain transfer recently, the market is still in a state of adjustment.
2. Downward transfer on the chain
The activity of BTC chain transfer is obviously at a low level. In particular, the number of major large amount transfers is limited, and the market is still in a downturn. Numerically, the number of large transactions on December 6 was only 19, with 9500 BTCs. Judging from this, the BTC price trend still tends to adjust. Moreover, in the absence of major large transfers, the market changes are more noteworthy.
3. ETH retraction
With the retreat of ETH short line, the price has peaked on the Bollinger line. At present, the ETH price trend is stable, but the trading volume in the daily K line chart shrinks significantly, which is a negative factor for the price rise. It is noteworthy that the decline of trading volume in ETH's daily K line chart has begun since June 2022. At present, the shrinkage of trading volume is synchronized with the downturn of price trend, and the market is in the adjustment stage.
4. SNX brewing rises again
From the 4-hour K map, SNX is currently in the early stage of the second floor elevation. In the 4-hour K line chart, 11 positive lines of rising prices appeared, indicating that the market is in the start-up stage. At the same time, the trading volume also reached above the isoline during the continuous recovery, which means that the SNX short-term start signs are clear. After the withdrawal, SNX is expected to regain its upward momentum.
5. DASH before discharge
The daily K line chart of DASH shows that, on the premise of stable volume and price, DASH ushered in a short-term rebound of 56%. From the perspective of DASH's trading volume performance, it is a good period since 2022. The trading volume remained active, while the price rebounded to a short-term high, and the signs of its low reversal were gradually confirmed.
