Under the continuous selling pressure, Bitcoin actually bucked the trend and rose, which shows how high the market's buying enthusiasm is. After a wave of waiting, Medal could not help but continue to participate in BCH positions yesterday. In fact, Grayscale has sold 122,000 Bitcoins since the adoption of the ETF on the 11th of this month, causing the price to retrace from 49,000 to 38,555. During this period, ETF issuers purchased approximately 140,000 Bitcoins in the past 11 trading days. Bitcoin, that is to say, it has completely eaten up Grayscale’s selling orders, and also purchased some positions from retail investors.

Currently, Grayscale’s BTC holdings are still decreasing. Yesterday, it reduced its holdings by 6,138 BTC, and the pace of shipments has slowed down a lot. It is predicted that the price will be adjusted to the strong support area of ​​34000-36000, and the shape has also changed strongly with the buying. The current price has risen to around the third resistance level of 43500 (the sideways position after the decline on January 15, the second The resistance zone was at a sideways level of 41700 on January 21, and the first resistance zone was at a sideways level of 40300 on January 25). The bullish pattern has moved up to the position of 41600. This position has bounced in both attempts, and the price has only If it does not fall below here, the bullish pattern will continue, and the impact of 50,000 points is just around the corner. Once it falls below 41,600, it means that the long and short guard war at the 40,000 mark will be staged again, and the price rebound will end, and it will continue to support 34,000-36,000. Regional testing.

Of course, we also need to be alert that this pattern is a deep decline rebound pattern on the daily line to avoid 43800 being the recent high. Therefore, a safer way is to increase positions in other currencies after the price breaks through 44000, or to increase positions in other currencies near the support of 40500. The breakthrough point is only 1.5% away from the current 43400, which is completely in time. After all, if you open a long position directly at the pressure level, you are likely to encounter a high probability of pressure and decline, after all, there is a lack of favorable basis for a strong breakthrough.

For currency friends who are anxious to enter the market at this time and are worried about missing out on the bullish market, it is recommended to hold BCH first. After all, it is still at a low level and has not risen. Judging from the current block height, it is expected that BCH will decrease on April 6. Half, there are only 66 days left until now. Medal believes that the probability of its outbreak in February is very high. After all, if it breaks out again in March, everyone knows that the halving will occur early next month, which will easily lead to a rush for funds, making it difficult to pull up. Therefore, , the probability of an outbreak in February is very high. It will first pull up a ladder sideways, and there will be a chance to pull up again at the end of March. Moreover, more than half a year has passed since the large-scale rally that started on June 21 last year (a 10-day increase of 210%). The market has fully digested it, and the chips have been consolidated to around 220. Judging from the crazy level of the previous rise, the amplitude of a wave of stairs is likely to double. Therefore, it is recommended to intervene in advance and wait. BCH Medal did a long analysis on the 15th of this month. It is recommended that everyone enter the market in the 235-245 range and 210-220 in the cover area. Currently, 242 is still in the market position. You can participate in reserves. hold. The short-term profit is 280,290; the mid-term profit is 320,350; the highest point before halving is above 550.

Tip: The chart below continues to use the analysis and drawing of January 15th.

A must-read for currency friends: The currency circle is a market that requires a high degree of professional knowledge and comprehensive analysis of information. Dealing with it alone is easily affected by emotions, resulting in a long-term situation of winning less and losing more. Welcome to pay attention to the medal, which will help you stand on a high ground and use a professional perspective. Pursue wealth in the currency circle!