The trading volume of $BTC $ETH during the plunge yesterday was close to the trading volume on the day of the 519 plunge during the previous bull market. It was a typical panic selling during the bull market adjustment period. A large number of investors handed over their bloody chips due to negative news and pessimism, and many investors' leveraged positions were liquidated, while the main force collected sufficient chips at a low cost.
However, dialectically speaking, the emergence of panic selling means the full exchange of chips, which is a good thing for the development of the next stage of the bull market. Only after panic selling can the next stage of rise be more lasting and stronger.
The rebound after yesterday's panic selling was a natural rebound. The power of natural rebound usually comes from short covering. This rebound will not last too long, so it is not recommended to buy the bottom at this time. Moreover, the rebound volume is getting smaller and smaller, indicating that the buying at this position is getting smaller.
It is likely to fall again for a second test. The secondary test is for the main force to know whether there is still liquidation in the market. The ideal secondary test should be a short K-line with small steps down, accompanied by a significant decrease in trading volume, which means that there is no liquidation in the market, and thus the end of the decline. Next, we can observe the performance of BTC and ETH in the secondary test to know whether the downward trend has ended. However, from the perspective of the relationship between volume and price, the buying in the natural rebound process has basically absorbed all the selling in yesterday's panic selling, so the probability of the end of the downward trend seems to be greater.
#PHRYGES of $SOL in the primary market is worth paying attention to. The community continues to output and has begun to exert its strength!