$ 5 billion in bitcoin in a week! Can the market go through the recession phase?

Study time: 2 Minutes

Following the short -term drop in Bitcoin prices below $ 5,000, which raised concerns about the downward trend, the Ramsar was quickly restored and is now trading at $ 4.9.

Anchin’s data show that last week more than $ 5,000 bits worth about $ 5 billion were out of exchange, usually interpreted as a accumulation phase. The trend indicates that large investors and long -term holders are using a decline in prices for purchase, which can reduce sales pressure.

However, the relative power index (RSI) is still below Level 2 and shows that the descending pressure is not completely over. Therefore, the market is still in dual conditions: on the one hand, widespread accumulation and trust of investors, and on the other hand, cautious technical signals.

Buying digital currency with 4,000 USD!

You can buy more than 5 digital currencies with only 2 thousand tomans and zero fees!

Start

Currently, the $ 1.5 resistance is the most important barrier to Bitcoin. Crossing this level can pave the way for $ 6,000 and even $ 6,000, but if failed, there will be a risk of returning to $ 6,000 or lower.