Changes in on chain chip accumulation since BTC 4.20, restoring market behavior URPD data, bottom horizontal axis: the price position of the last BTC moved, left vertical axis: the quantity of BTC moved last at a certain price. The chip intensive area of on chain trading is used to determine the support/resistance level of the market. Let's take a look at the URPD data on April 20th. As shown in the figure, there is a large accumulation of chips between 83-85, with over 1.3 million chips Looking at today's URPD data again, as shown in the figure, it is obvious that the chip accumulation between 83-85 has decreased, while the chip accumulation around 93100 has increased The pile up of 93100 chips on April 20th was only about 260000, but now it has reached about 620000. And currently, there are more chips around 92000. The chips have changed hands, and low-priced chips have become high priced chips. Let's take a look at BTC's RSI data again Divide investor behavior into five categories: firm buyers, trend buyers, new investors, profit taking investors, and loss surrendering investors. Analyze the behavioral changes of different investor groups. As shown in the figure below, trend buyers buying may represent the beginning of a new trend. The current trend of buyers has slowed down. And steadfast investors have shifted from buying to selling, while new investors are still buying. From the data, the momentum is already insufficient. Of course, considering macro and event factors, China and the United States are still struggling due to tariffs. Even though the US stock market continued to rise this morning, BTC did not follow suit and turned into a volatile market. Emotionally stimulating funds for purchasing are also insufficient. Or rather, as prices rise, chips are frequently changing hands. After all, there is currently no more emotional stimulation or positive upward momentum There is also a pressure level above, marked on the URPD chart at around 96400, with support at 92000 below. Currently, 94 has not yet stabilized If there is no significant emotional stimulation, it may just oscillate in the range of 92-94. The next thing that will affect emotions is next week's 4:30 macroeconomic data GDP and PCE. For your reference, if you find it helpful, please feel free to connect three times with just one click. Thank you 😁