1. BTC rebounded slightly
The daily K line chart of BTC shows that the Bollinger line has continued to shrink with the adjustment. On October 25, the BTC price was still around 19300 dollars, and the signs of breakthrough were still not clear. Considering that the volatility has not been improved, it is still a good trading point. Considering that there are many recent changes in contract traders and the proportion of bulls has increased rapidly, it is appropriate to pay attention to the price breakthrough performance.
2. BTC contract investors bet bullish
The bulls of BTC investors began to bet on the price to change upward. From the perspective of the change in the strength of long short positions, the proportion of long short positions reached a peak of 1.29 on October 23. Compared with the price change of BTC, the amplitude of BTC rose to 3.25% on October 23, and the closing price on that day rose 1.91%. The trend of the market is favorable for bulls for the time being. The proportion of long contracts is better than that of short contracts, indicating that the long contracts are not over yet.
3. Contraction of transaction volume on BTC chain
The shrinking trend of turnover on the BTC chain continued, indicating that the number of investors who have transferred money recently has decreased significantly. In terms of quantity, the number of BTCs transferred on October 24 was 742000 BTCs. Relatively speaking, the amount of online transactions from June to early September in the previous period was around 380, which was only 20% of the previous value. As the trading volume on the chain shrinks, it indicates that investors' position adjustment has come to an end and the market will change at any time.
4. ETH closed up
The daily K line chart shows that the ETH price rebounded below the US $1367 corresponding to the Bollinger online track, and maintained at a short-term high within three trading days, indicating that the recent rebound support is still effective. On the transaction level, ETH has been near the highest closing point since September 19. Obviously, for short-term trading investors, profit selling pressure is not strong. However, in terms of the pace of ETH's price recovery, ETH is currently brewing a short-term upward trend. The signs focus on the breakthrough effect of the pressure level of $1400.
5. Strength growth of ETH contract bulls
Before the short-term rebound of ETH's price, the strength of the contract bulls increased rapidly, and the long short ratio reached around 0.53, a new high in the past year. In the previous period, the long/short ratio on October 8 was near the lowest 0.472. With the rapid reversal of the long/short ratio, ETH prices are also rebounding gradually. Since October 23, the ETH price has always been operating near the Bollinger Line of the Nikkei K Line, showing signs of continued strength.
