Exchange inventory at record low as supply weakens again Physical 1K-10K addresses are starting to accumulate again after the distribution, physical 10K-100K addresses continue to accumulate and large accounts are in high demand Miners continue to accumulate The total volume of the contract market has rebounded to over $12 billion again, which may be a short-term negative for the coin price The chain data is stable, the big investors are absorbing stable chips, the market supply is low, the miners are accumulating steadily, the liquidity supply is low, the overall bullish Morphology, first of all, 4 Hour, signs of weakness, began to weaken, the market is likely to go at least 4hour level adjustment, strong words may be in the 55400 near the stage bottom, weakness to 53500 near to find support. The daily level choose to break through, but the demand failed to last, today's adjustment up to now the volume is not large, belongs to the normal breakthrough after the back pedal, at present still see the uptrend unchanged. Overall the large level intact, BTC lack of a full adjustment, so yesterday so directly step on the 5 day line after pulling up can not continue to rise, the market wants on or to adjust the storage, patience some. The day steady more than 55500 near, aggressive empty 57600 near

Figure 1 10k-100k national day increased 25w bitcoin, large investors crazy absorption Figure 2 Short-term holders have raised their heads, coin price rise is expected to continue. Figure three Figure four liquidity supply decreased, the exchange coin volume continues to be low, the market supply is not large. Morphology, yesterday's analysis to 2-3 days of sideways time, today still maintain the view of the oscillating market, the daily needs to wait for the MA5 to come up to step on, or even to go to insert the MA10, after all, is through the sharp pull up, there must be profit-taking discs appear, after absorbing these floating supply, before continuing upward. The big level is fine, after the breakthrough did not trigger a large-scale supply appeared, is a valid breakthrough. Intraday empty point 55000, more points on the 53000 near, depending on the small level trend to find more single advantage intervention position. In addition, the chain earnings entity hit a new 5-month high, the position will be a certain change of hands; 1k-10k coin holdings have not changed much, sustained selling pressure has not appeared. Conclusion: The coin price in this position, no matter horizontal or retracement, is to lay the foundation for the rise

Figure 1: Short-term holders have fallen to historic lows, meaning that selling pressure is hard to continue. Once the number of short-term holders rebounds in the future, it will bring the market up. Figure 2: Long-term holders continue to grow, which is the basis for the rise of the coin price. Figure 3: The exchange balance continues to below, the market supply is low and it is hard to have a big fall. Figure 4: Liquidity supply continues to decrease, no basis for a crash. Overall still healthy, no big up or big down logic, continue to shake mainly.