1.31 Market Research Report $BTC $ETH $MAGIC
Glassnode: Most long-term Bitcoin investors still unwilling to sell at current prices
A giant whale sold a total of US$7.14 million worth of WBTC and ETH in the past 21 hours to repay Aave loans.
Market analysis:
BTC fell below US$43,000 today and is now around 42,830. As mentioned yesterday, BTC has experienced heavy volume and has exceeded the previous high since the 29th. It can be clearly seen from the current market: after the breakthrough, the trend did not rush upward but slowly fell downward to release a large amount of short-term chips. There is a high probability that the trend within the day will stabilize and consolidate at a low level, and then form a platform consolidation area and enter a sideways shock trend.
Operation strategy: Hold the spot firmly and have confidence; it is very easy to insert the pin up and down, and leverage operation is not recommended. Activist investors can find long targets at the 15-minute level.
The price of ETH has stabilized and the selling pressure is light. It has indeed maintained a continuous upward trend as mentioned yesterday. It has dropped five consecutive negative lines since 6 o'clock this morning. It can be seen from the daily level trend chart that after each small band of market movement, the price fell back and consolidated, and broke through the 5-day moving average many times, creating a short atmosphere and causing some retail investors to shake out. However, the ETH price quickly pulled up. Back above the 5-day moving average. During the wash, the 20-day moving average is generally not effectively broken down, so that the 20-day moving average remains upward, and the ETH price rises in an arc shape.
Operation strategy: Hold the spot firmly and have confidence; it is very easy to insert the pin up and down, and leverage operation is not recommended. Activist investors can find long targets at the 15-minute level.
Today’s focus points
Upper pressure 42990-43000
Lower support 42670-42590
