Yesterday(1/16 00:00 - 24:00, UTC+0), bitcoin price recorded its starting as $36732, its lowest as $35420, its highest as $37969 and its closing as $36005. Bitcoin moved up and down between $35000-$38000 during Saturday with no big trading volume to close -1.98% down. In a word, dominance fell sharply from 68.5 to 67.1 during yesterday's sideways movement, and among altcoins, DeFi tokens rose significantly. Yesterday's dominance low was the first value reached after the breakthrough of $20,000 a month ago, and can be interpreted as indicating that it is time to rebound. Looking at the 4-hour chart, after the low of $30377 on 1/11, the lows rise and the highs are lowered at the same time, which shows a triangular convergence pattern. I guess btc would go up big (more than 15% from $36000) sooner or later considering this pattern and the possibility of btc dominance's rising. According to the news of the cryptocurrency market on the 15th, The Block said that the trading volume of major cryptocurrency exchanges in January has already exceeded the trading volume of the previous month(December). This is a good explanation for the situation in which bitcoin surpassed $30,000 from January 2, rose 40%, fell back to $30,000, and then rebounded to $40,000 again. This means buying side has fought toughly with selling side. Which side do you think would win, buyer or seller?
post_id | 89,130,307 |
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author | jhdklk853 |
permlink | 1-17-sun-btc-moved-sideways-with-low-volume-during-saturday |
category | btc |
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post_id | 89,130,321 |
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author | upvu |
permlink | re--1-17-sun-btc-moved-sideways-with-low-volume-during-saturday-20210117t035845543z |
category | btc |
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created | 2021-01-17 03:58:48 |
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