BTC selling volume is growing rapidly, and mainstream currencies are ready to go

When BTC hit the highest level of $18,970, the selling volume of Coinbase exchange increased rapidly, reaching 1.63 times the buying volume, which only happened at the end of 2017. In other words, when BTC is about to reach a new historical high, the selling volume will increase significantly first, which is a logical trend to prepare for high-selling transactions. Therefore, before the buying volume follows the upward trend, it is more important than ever to pay attention to trading risks.

Fortunately, BTC's volume and price performance is good, and no typical top signal has appeared so far. Even with the 6% adjustment on November 22, the rebound trend still appeared quickly. This shows that BTC's volatility is still within the normal range, and the price trend is relatively stable, and there are trend opportunities.

In terms of mainstream currencies, most of them have started to rise recently. ETH, XRP, LTC, ADA, etc. are all representative currencies.

ETH's trend is relatively stable, with an increasing number of consecutive rising trading days, and it is ready to rebound.

XRP's sudden pull-up has broken away from the key typical pressure level of $0.3, and has opened up space to move upward. At the same time, the price adjustment space on the daily K-line is small, and the selling pressure is digested by large-volume sideways fluctuations, so the impact on the trend is relatively limited.

The price trend of LTC is relatively stable, but there are many potential shock opportunities. In terms of daily K-line, LTC has reached $84.8 corresponding to Fibonacci 50% during the recent period of large-scale operation, which also means that the price is in the process of challenging the pressure level of $99 corresponding to Fibonacci 61.8%. Therefore, the price is in a stage of preparing for a high level.

As for ADA, the daily K-line price performance is even faster. After the trading volume increased for three consecutive trading days, the price soared by 50%. Even if the trading volume does not seem to be recovering, ADA is already in an effective state of increasing volume, and the price is expected to remain strong after breaking through the short-term high.

Mainstream currencies remain strong, and BTC is still trending upward after a short-term pullback. Despite the large scale of selling, we still expect the market to have more breakthrough performances.

Disclaimer: This website has the final editing rights for all articles published on this website. All works on this website are original works of Bitcoin Home or reprinted from the Internet. The purpose of reprinting is to convey more information, which does not mean that this website agrees with its views and is responsible for its authenticity. Any disputes have nothing to do with this website. If there are any problems with the content, copyright and other issues of the works, please contact this website as soon as possible.