There is a simple logic that only with large buying volume can there be a price increase, and the buying must exceed the selling. There must be a large amount of money to go up, because there are many locked orders at the previous high, and the trading pressure is high. If there is a large trading volume at a low level, it will become a selling pressure at a high level.
The following conclusions can be drawn from statistical data:
1. The trading volume of Big Pie has been rising in the past few days. If the trading volume continues to maintain above 36 billion or even 40 billion next week, it is possible to break through 69,000 to 70,000.
2.10.13-10.15 The trading volume of 62000-66000 is greater than that of the following days. The chips at this price will become the selling pressure for future higher prices.
From 3.10.13 to 10.15, except for the insufficient volume on 13th, the subsequent trading volume was above 40 billion, and the price also rose by 3500 points. From 10.16 to 10.18, the volume remained above 30 billion, but the price rose by about 1000 points. Obviously, the higher the price, the more funds are needed to pull the market. Compared with 4.9, 5.20, and 6.7, the volume was almost enough, but the price did not go up. It is very likely that the selling pressure is too great.
Monitoring found that 8,500 bitcoins were shipped on Coinbase late last night. This news needs further verification to determine if it is true. It is very likely that large investors or market makers sold the bitcoins at high prices.
All analyses are based on judgments made based on data and are for reference only and are not intended as investment advice.
#BTC☀ 