After two days of shocks and swings, BTC yesterday welcomed a new round of price upwarding. According to the daily line, the victory of the game between the long and short seems to belong to the long positions. The MA7 goes above MA30 and Boll Band has formed an ‘open mouth’ which has significant signal about the increasing of the long positions. According to the hourly line, the moving average line went up and broke the previous peak point. The long momentum is strong.

All in all, at present the long-dominated market started to form but the trading volume is not enough. The development of real long-dominated market needs the collaboration of trading volumes. ETH is still at the similar situation as BTC but slight weaker than BTC.

Source Date: August 29, 2018