VAMBIE 路飞
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Bitcoin is navigating a storm, but the charts are pointing to critical levels.
The recent dip below $107K isn't happening in a vacuum. It's a perfect storm due to several factors:
· Heavyweight Selling: Institutions and whales are offloading; over $1.1B in BTC was sold by large entities, with a single day seeing 17,000 BTC moved to exchanges. It points pure selling pressure.
· ETF Outflows: U.S. Spot Bitcoin ETFs bled $536 million in a day, removing a key source of demand.
· Leverage Flush: The volatility liquidated over $1.18 billion in longs in 24 hours, accelerating the drop.
Technical Analysis from the Chart:
The chart shows a clear battle around key levels:
Key Support: The $104,000 - $106,800 zone is critical with the 24h low and key EMAs. A break below targets $BTC to reach $102,000 and even $97,000 - $100,000.
· Key Resistance: The path back up is tough. Immediate resistance sits at $110,500, with a major ceiling at $112,700 - $113,000.
· Indicators: The RSI is hovering around 43, nearing oversold territory. The price is also testing the 200 on day EMA. It's a major line watched by many.
Market sentiment is in fear which contrarians see as a potential long-term opportunity.Optional market showing heavy put buying down to $104K, meaning traders are hedging for more potential downside. Many are calling this a healthy reset to wipe out excess leverage and build a stronger foundation for the next leg up.
Bitcoin is under significant pressure from both macro and technical forces. The $104K - $107K zone is the line in the sand. A strong bounce here could signal a recovery, while a breakdown opens the door for a deeper correction. Traders are watching this levels closely.
#MarketPullback #WhaleAlert #CryptoMarketAnalysis
· Heavyweight Selling: Institutions and whales are offloading; over $1.1B in BTC was sold by large entities, with a single day seeing 17,000 BTC moved to exchanges. It points pure selling pressure.
· ETF Outflows: U.S. Spot Bitcoin ETFs bled $536 million in a day, removing a key source of demand.
· Leverage Flush: The volatility liquidated over $1.18 billion in longs in 24 hours, accelerating the drop.
Technical Analysis from the Chart:
The chart shows a clear battle around key levels:
Key Support: The $104,000 - $106,800 zone is critical with the 24h low and key EMAs. A break below targets $BTC to reach $102,000 and even $97,000 - $100,000.
· Key Resistance: The path back up is tough. Immediate resistance sits at $110,500, with a major ceiling at $112,700 - $113,000.
· Indicators: The RSI is hovering around 43, nearing oversold territory. The price is also testing the 200 on day EMA. It's a major line watched by many.
Market sentiment is in fear which contrarians see as a potential long-term opportunity.Optional market showing heavy put buying down to $104K, meaning traders are hedging for more potential downside. Many are calling this a healthy reset to wipe out excess leverage and build a stronger foundation for the next leg up.
Bitcoin is under significant pressure from both macro and technical forces. The $104K - $107K zone is the line in the sand. A strong bounce here could signal a recovery, while a breakdown opens the door for a deeper correction. Traders are watching this levels closely.
#MarketPullback #WhaleAlert #CryptoMarketAnalysis
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.