$BTC
The calm before the storm? Don't be naive! This market is fraught with danger! I'm your old friend, the crypto hunter, and today I'll take you through a thorough analysis of this BTC 1-hour chart!
Without further ado, let's get straight to the point: short-term rebounds are all bull traps, the downtrend isn't over yet! Look closely at this chart: the price is firmly suppressed below the Bollinger Band's middle line at 87772, not even daring to touch it. What is this if not weakness? The MACD histogram is still expanding, the DIF is diving below the DEA, the momentum clearly points downwards! And look at that bearish candlestick, it plummeted from 87975 to close at 87752, the bulls didn't even offer a decent resistance. Now at 86973, it's struggling near the lower Bollinger Band. If it breaks below 86600, the next target is 85500!
Looking only at the candlestick chart is reckless! On-chain data has sounded the alarm: in the past 24 hours, there has been a significant transfer of large amounts of BTC from long-term holders' wallets to exchanges, a classic precursor to a potential market crash! Outflows from miner wallets are also quietly increasing, indicating that some miners are choosing to cash out under pressure. On the news front, the sword of Damocles of global regulation hangs over the market; any new development could be the final straw that breaks the bulls' confidence. Market sentiment has shifted from greed to fear. At this point, technical analysis, on-chain data, and market sentiment have created a triple bearish resonance!
Listen to my advice: now is absolutely not the time to catch a falling knife! Those with no positions should watch from the sidelines; those with positions should use any rebounds as opportunities to reduce their holdings or even reverse their positions to establish short-term short positions! We need to wait for the panic selling to completely subside, for on-chain data to show that selling pressure has dried up, and for a clear bottom structure to emerge! Want to precisely buy at the lowest point before the next surge? Want to avoid this round of brutal declines? Follow me now! My updates will provide clear right-side entry signals and targets as soon as possible. Market conditions change rapidly. Follow my lead—we don't eat the head or tail of the fish, we only eat the fattest, most succulent part! Follow me, and I'll take you to the next big profit! Follow me: @加密崎哥