Many counterfeit coins have seen double-digit gains , This shows that , as time goes on , Traders are increasingly bullish , But maintaining this momentum depends to some extent on bitcoin (BTC) Short term price trend .

Cointelegraph Markets Pro and TradingView Data show that , stay 8 month 16 The early morning trading session hit 48000 After the price level of USD , As bulls scramble to stop prices from falling , The price of bitcoin has fallen below 45800 dollar .

BTC/USDT 4 Hour chart source :TradingView

The following is what analysts call the next trend of bitcoin price .

Bitcoin has gone through 50% After the rebound , The support position needs to be retested

Bitcoin from 7 month 20 Japanese 29500 The dollar soared to 8 month 14 Japanese 48000 After the dollar , stay 44000 The dollar and 48000 The trading range between the US dollars fluctuated , As follows from anonymous twitter analysts Nunya Bizniz As shown in your tweet .

BTC 1 Hours .

Bounce at the balance point ?

——Nunya Bizniz (@Pladizow) 2021 year 8 month 16 Japan

The equilibrium point determined in the above tweet is 46123 Near the dollar , Analysts may think , After bitcoin test support , Buying may increase , Because short-term traders will see the current correction as support / Retest of resistance level .

On the other hand , Anonymous traders Gas Fring Think , Rebound may also occur at the bottom of the rising channel , Will cause the same result , But here's the thing , Both analysts use 1 Hour chart , So these comments only refer to possible price movements .

BTC/USD 1 Hour chart source : twitter

The miners began to accumulate

Glassnode A recent report emphasizes , The accumulation of miners may be another bullish indicator of bitcoin . This chain analysis supplier observed “ Net decrease in mandatory selling pressure from miners ”.

Change in net position of bitcoin miners source :Glassnode

China from this year 5 A crackdown on mining began in June , This has a serious impact on the computing power of bitcoin , Cause the miner to shut down the miner , Move to other countries that are more friendly to cryptocurrency mining .

Glassnode Express :

“ We see , In the past two months , The net balance of miners continues to increase . The net increase in the balance of miners has now reached +5000 BTC/ month , This shows a net decrease in forced selling pressure from miners .”

The daily closing price is higher than 46500 The dollar is the next obstacle

According to encrypted twitter analysts Rekt Capital That's what I'm saying ,46500 The US dollar is an important level of bitcoin in the short term .

As shown in the figure above , The price trend of bitcoin forms an upward triangle on the daily chart , The price needs to be closed at 46500 Above the dollar level , To confirm the successful test of triangular resistance .

If the daily closing price is higher than 46500 dollar , Will support the continuation of the upward trend , The rupture of the rising triangle may see the price of bitcoin fall to 40000 The low end of the dollar .

at present , The total market value of cryptocurrency is 2.007 Trillions of dollars , The dominant rate of bitcoin is 43.5%.

Cointelegraph Chinese as a blockchain news and information platform , The information provided only represents the author's personal views , And Cointelegraph Chinese platform position has nothing to do with , And does not constitute any investment and financial advice . Please set up a correct concept of money and investment , Improve risk awareness . In view of the fact that China has not yet promulgated relevant policies and regulations on digital assets , Chinese mainland users are advised to invest in digital money prudently .