On October 26, the huge volume broke through the downward wedge and stopped at the 618 retracement level, and the closing line closed below the wedge on that day. The next day, BTC tried the second breakthrough but failed, and the trading volume began to show a downward trend.
We can understand that BTC tried an upward breakthrough of the downward trend with the change of policy, but this breakthrough was not successful, and the selling pressure was too strong, which may be because the rising speed was too fast, and there was demand for unlocking the market from the previous month.Following the trend, I am inclined to pull back, because it is difficult to find the factors to stimulate the rise on the news surface. Rationality will return soon. Besides, the huge trading volume is not every day
We can understand that BTC tried an upward breakthrough of the downward trend with the change of policy, but this breakthrough was not successful, and the selling pressure was too strong, which may be because the rising speed was too fast, and there was demand for unlocking the market from the previous month.Following the trend, I am inclined to pull back, because it is difficult to find the factors to stimulate the rise on the news surface. Rationality will return soon. Besides, the huge trading volume is not every day