Will the pie fall below 40,000? Is the bear market coming?
Observing from the on-chain data, Giant Whale purchased a large number of chips in the price range of 35,000-40,000. This area seems to be a cost-intensive area for Giant Whale. This information shows that giant whales have a high degree of recognition of this price range and are willing to buy in large quantities within this price range.
From a technical analysis, BTC’s daily MA120 has risen to 37,000. This is an important technical indicator and is often seen as a signal that a trend is continuing. Furthermore, the scope for a pullback below looks very limited, which further strengthens the market’s support for current prices.
For the spot market, if the price starts to drop from $40,000, then setting a buying level every $1,000, for a total of four or five levels, may be a reasonable strategy. This allows you to capture more buying opportunities when prices pull back.
