Brothers, I am Jin Chan. Today I'm watching the 1-hour K-line of BTC. This thing seems 'stuck on the board,' without significant funds working over the weekend, just dragging on. However, I will lay out today's fluctuation script clearly for you!
News
There hasn't been much significant movement in the circle these past two days: institutions are either lying flat or making small positions, with 1.47 million liquidated in 24 hours, '1.3 million of long positions were liquidated.' To put it simply, funds are too afraid to bet on direction and are just waiting until the weekend is over to take action.
What's more interesting is that the grayscale BTC holdings haven't changed, and the mining farms haven't dumped large amounts of coins, which indicates that 'big players are waiting for signals.' Today's market is just 'retail investors fighting each other in a minor fluctuation,' unable to stir up big waves!
Technical analysis
Currently, BTC is stuck at 89,300, today it might touch 90,000 at most, but it definitely can't break through as the volume has turned 'red bars to green bars with shrinking volume', the buying pressure is weak, any rise is just 'a feint', even if it touches 90,000, it won't hold.
If it drops today, 88,000 is the first support, if it breaks that, look for 86,000, but right now the 'golden cross on water' is still there, the probability of a deep drop is low, it will bounce back around 88,000 at most.
My opinion
For those holding BTC: reduce your position directly near 90,000, wait for it to drop back to 88,000 before adding; the current rebound lacks strength.
Don't buy blindly at 89,300! Either wait for it to drop to 88,000 to buy low, or wait for it to stabilize at 90,000 before entering now, or you'll just be a 'bag holder';
No major moves this weekend, don't be a 'overtime leek', watch for 88,000 and 90,000, act only if it breaks, if not, just lie flat!
Today, BTC is just 'playing dead waiting for a signal', pushing to 90,000 is a trap, dropping to 88,000 is an opportunity. Retail investors shouldn't go against the market, follow the key levels, don't chase highs, don't cut losses, to avoid being a big loser in the crypto world!
To be honest: the weekend market is just 'mosquito meat', it's not worth getting worked up over this little fluctuation. Wait for the big funds to act next week, we can eat meat then!
Wealth does not come through urgent means, making money in the crypto world relies on knowledge and patience, not shortcuts and luck! Follow @金蟾说币 and participate in Jinchans's every attack! Jinchans will announce specific entry times and real-time news in the chat room every day! #加密市场观察 $BTC
