According to foreign media, Bitcoin rose to about US$ 68,362 on 19 August, in a high area after a successive round of increases. During the same period, the total market value of the encrypted market increased by 4.76 per cent to 2.4 trillion United States dollars a day, with the BTC market value remaining at approximately 57 per cent.
According to this review, the central point at hand is not just whether the price rebound per se, but whether the round is sufficient to push Bitcoin through a higher level of medium-term resistance. The report cites Bloomberg as an important support for recent developments in the form of a cumulative increase of about $2.9 billion in bTC over the past 60 days.
The whale returns short-line emotions.
In financial terms, the large holders were resold and re-established at the end of the term, which was an important background for the rebound. At the same time, market risk preferences are rising. It is mentioned that Uniswap V3 24-hour transactions increased 146 per cent, and Curve ' s DEX fees increased 128 per cent, indicating a synchronized increase in chain activity.
However, market sentiment did not fully keep pace with prices. Fear and greed are still 46, in the “fear” zone. This means that there is still a gap between strong prices and emotional indicators, and short-line fluctuations are likely to continue to widen.
7.05 Million United States dollars above focus of observation
According to the article, Bitcoin, although already on a short-term average, has not completed a clearer trend repair at the solar line level. Prices are above the average of 20 and 50 days, but still below the average of 200 days in the vicinity of US$ 71,676.
- The current price is about US$ 68,362
- Near-end resistance is about $70,519.
- 200 average daily at approximately $71,676
This has made the US$ 70,519 near a position of resistance to be observed in the near future. If prices continue to rise and break this position, the market will further test the 200-day average. If we could get on the $71,676 line, the signal for the sunline trend would be clearer.
The short-line overheating signal is starting to appear.
Although the short-line structure remains strong, the article also suggests that some technical indicators have shown that the market is in a state of heat. The hourly RSI rises to 85.32, 15 minute kinetic energy starts to slow, which means that prices may first be sorted at a high level, or there may be a certain degree of regression.
It is mentioned that if the increase slows, the market may look back at the US$ 68,145 that supports it, and the deeper that supports it is US$ 65,185. Overall, it is judged that the short-line trend is still upwards, but the critical resistance of the dayline has not been effectively breached and the market will then enter a more sensitive validation phase.