Recently, the price of $BTC has been hovering around $30,000, but the long-term upward trend remains stable. Although it has fallen below the $30,000 mark several times in the past two days, there are still buyers actively buying Bitcoin in the $28,000 to $25,000 range, viewing it as an accumulation area.
Data shows that buyers accumulated a lot of BTC in November and December last year; they also accumulated a lot when $BTC stood above 30,000 in March and April this year. Perhaps affected by the news of#BitcoinETFRipple and #SEC, buyers also had similar hoarding behavior in July. From the weekly structure, the 30,000 US dollar level is an important key point. It used to be a support position, but now it has become a resistance position. If this position can be broken, the next resistance point is about 37,000
In summary, the current BTC market at the end of July continues to maintain the box-shaped oscillation since June 20, and has not shown a unilateral market. Long-term holders, whether short or long, may not have made a profit yet, so they mainly make short-term waves in the short term. Considering the box-shaped oscillation on the daily line, we continue to be bullish and pay close attention to the daily bullish trend. As long as a good bullish structure is given, we must dare to do it and dare to enter!
