Market Analysis of Bitcoin on Wednesday, June 16, 2021

2021-06-16 14:15Source:BtcDana

The total global market value is $1,802.619 billion, with a 24H increase of -0.64%, a 7-day increase of +3.21%, of which the market value of BTC is $754.072 billion, accounting for 41.83% of the global market value, and the price is $40,200 (-0.76%). BTC contract holdings amounted to RMB 27.458 billion, -5.89% from the previous day. The number of Bitcoins in the Bitcoin Lightning Network exceeded 1,500 which is a record high. Bank of America survey: 81% of fund managers believe that Bitcoin is in a bubble. From a technical perspective, Bitcoin's daily candle shoot up, and was closed bullish with a long tail. It is clear Bitcoin experience pressure from above 43.000, which will also be the deciding point for bull and bear. H4 graphs shows a complete upward structure and indicator tends to be bullish. Overall prioritise operation on the fluctuation zone. The deciding point whether to buy or sell is near 38.000.

https://asset.ycxfy.com/upload/file/1623772800000/1623827687849.pngResistance: 41300-42000-43000

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