CoinNess Analysis: Chances Are Rare For Short-Term Investors; Platform Tokens Have New Chances

CoinNess.com
Nov 4 · 2 min read

Recently, BTC moved in a sideways trend. Many investors may worry that it will have a quick drop to the $7,300 level. However, the market is calming down, so there is a low possibility of that.

President Xi’s speech highly stimulated the market, but the long upper shadow showed the restriction area. The market needs to seek a balance point between price restriction and positive news.

Now there are not many opportunities for short-term investors. Taking BTC as an example, although there was strong resistance on Oct 25, BTC price was still below the dropping line between Sept 24 and Sept 25. Other altcoins are in the same status; investors need more patience.

Besides, observing the BTC price line and the position line, we can find that high positions often followed by low prices, indicating that long-term investors have more accurate recognition of BTC highs and lows. BTC Positions go down slightly now, which shows that the peak is still on its way.

Platform coins have better momentum and they have recovered from the plunge in Sept. Now, prices move to their restrictions. A good entering point will appear when prices go down to the neckline at the bottom.

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