The Bitcoin breakthrough this time is associated with a rise in price and volume; short-term trading volume is increasing with the rise in price, which is a very positive signal. Currently, there are no downturns observed; the price may rise above and then return to support around 115000 before continuing the bullish trend, but it is necessary for the MACD and trading volume to correspond. The trading volume of Bitcoin continues to decline, having fallen by 70% compared to last year and by 50% compared to several months ago. The volume is decreasing, and the number of traders has noticeably decreased. Currently, the rise is not driven by strong buying interest but is caused by a lack of selling pressure, meaning that the selling volume is very small, and a small amount of buying can significantly raise the price. Trading is gradually becoming institutional as institutions are long-term players who do not sell.



In the short term, Bitcoin support is around 115000. Overall, after a short-term correction, it may rise slightly, but significant growth should not be expected as the Trading Volume this time is much lower than in previous waves. Perhaps 125000 will be a good level if the volume continues to rise.
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Grechvip
· 07-13 04:57
Not a bad post, I hope it's correct.
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