After Bitcoin breaks through 70,000, will it start to accelerate?
Since March, this is the fifth time that Bitcoin has hit the trend line and the fifth time that it has hit the 7w position. Why is it judged that it will stand up this week? Here is a brief explanation.
Trump's speech is a good test. The dealer uses it to test the market. The dealer uses Trump's speech to touch the trend line twice to test the selling pressure. The amplitude is not large.
The first abnormal point is that Trump's speech did not really increase the volume to exceed 7w, and the hourly line amplitude is too low. If the dealer wants to cheat, he must use Trump's speech to tell a story, pull over 7w, cheat the contract to open an order, and then cut it down.
In fact, there is no, what does it mean? The dealer does not want floating chips. It can be seen from this that the rebound and pull-up after the big drop in early July are not considered to be cheating by the dealer, and the average volume is also higher than the previous May and June.
Especially the 70,000 position, which is too critical. It takes a lot of real money to break through here. It is unlikely that the dealer will spend money here and waste time. I spent so much money just to prepare for a breakthrough.
How will the market go in the future? Here are some opinions:
Pay attention to Ethereum and altcoins. After the ETH ETF is passed, the logic of ETH has changed, and Grayscale's selling pressure will gradually be digested.
The net inflow of funds from ETFs brings prosperity to the entire altcoin.
There is no altcoin season with a general rise, only the rotation of sectors and the performance of some altcoins.
1. The non-US bull has not come yet, because the US dollar index has not broken 100, but he will definitely come, which is determined by the issuance of US dollars and the tidal mechanism.
2. In the medium term, the number of surrenders on the BTC chain is still insufficient. If the scale of surrender is large, it can be confirmed that the bottom is completed. If it is insufficient, it can only be said that it cannot be determined.
3. The altcoins have reached the previous low, and the emotions have been washed away. So the conclusion is that this may be the bottom, or it may not be, but it is definitely not the top of the cycle.
BTC is not cheap at this position, so no one will buy it at a high interest rate, but it is not expensive, so institutions that have already bought it will not sell it here. This is the equilibrium price, which is equivalent to 10,000 to 12,000 USD in 20 years.
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