Recently, the BTC market has been much more complicated than expected, with frequent "painting the door" wash trading, continuously shrinking trading volume, and narrowing price fluctuations!
All of this is sending a signal: a trend change is imminent!
Last night's market has already given a clear signal.
The second bottom test did not break 89000, but instead rebounded strongly.
In the past day, the buy and sell amounts on the order book have been basically balanced, and the large sell orders that accumulated a few days ago have also started to disappear.
This indicates that bearish sentiment is gradually weakening, and the short-selling power in the market is diminishing.
ETF institutions continue to sell, with a daily outflow of 0.77 million USD, but retail investors and large holders are consistently entering the market to take over, indicating that institutions are harvesting "leeks" while retail investors are increasing their long positions.
On the four-hour K-line chart, the bullish volume is significantly stronger than the bearish volume, which is an important signal that the bulls are dominating.
Currently, price fluctuations are narrowing, and trading volume is shrinking, which is a classic precursor to a trend change!
Considering the comparison of bullish and bearish volumes, the probability of BTC breaking upwards is greater.
Key support and resistance levels for BTC today:
Today, pay close attention to whether the price will retrace to around 90500; if it tests and does not break, it will be the best opportunity to enter long positions!
If the market successfully initiates a second surge, the short-term target pressure is aimed at the 94000-95000 range!
This is the next station for the bulls and also a potential ambush point for the bears to counterattack.
If the market unexpectedly weakens, key support is still at 89000, which is the last defensive line for the bulls. If it breaks below this, the bearish forces will quickly dominate.
Tonight, keep a close eye on key levels, brothers who want to steadily profit,
Come to the chat room to ambush the next wave of the market!💪💪💪
