Market analysis on April 12

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When the market triggered volatility on April 12, BTC's drop of less than 5% was in sharp contrast to the 20% drop in Altcoins.
The CEX chip indicator shows that traders continue to maintain a neutral view on BTC prices. The price drop is mainly driven by stop-loss behavior in the futures market, and spot selling behavior increases with the price drop.
This brings two positive signals to traders:
1. BTC prices remain strong, and bullish expectations for the future market remain sufficient.
2. Altcoin forms an extremely oversold level, and the cost-effectiveness of trading oversold rebound increases sharply!

Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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