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Bitcoin Downward Force Still Strong

Bitcoin Downward Force Still Strong

The downward force is still relatively strong against BTC which began to fall again after jumping above $48k in the past weekend.

Speaking to, Huobi Group Co-founder Du Jun says data shows BTC, which is. now around 46K, is facing a relatively stable downward trend.

But it is likely to further break down through the 45,500 pressure level. He says the price is still a stable downward channel. DIF crossed DEA and formed a downward signal.

“The K-line ran near the lower rail of the Bollinger Bands, and the trading volume was relatively sluggish,” the Huobi Group executive said.

\“At the daily level, price fluctuations have gradually slowed down in recent days, and price fluctuations were temporarily controllable. In short term, pay attention to the downward momentum and the breakthrough of the 45500 position below.”


[Ethereum] declined steadily during daytime, falling from a high of 3980 to a low of 3760, and is now near 3780. Judging from the 4h k-line, the k-line fluctuated greatly today, which changed the stability of the past days. However, it is not difficult to see from the daily line that the drop is to pull the k-line back into the downward channel, indicating that the downward force is still relatively strong. In short term, pay attention to extent of the price drop.