Synchronize the basic situation:
Bitcoin OI and CVD have maintained a very stable increasing structure for five consecutive days. Retail investors' market price chasing sentiment continues to rise with the short-term decline in price, while the profit-taking in the spot market is mild, indicating that the distribution is nearing its end but has not completely finished.
The turnover between long and short positions is slow, but the accumulation of large fund short positions is showing an expanding trend.
The market structure has short-term resistance at 74000 points, with dual support at 70000 points and 68000 points forming the low points of the oscillation range over the past two months.
In the future, breaking 74000 points or 68000 points will indicate the end of the short-term oscillating market. Personally, I maintain a bearish view on the daily structure; once the distribution ends, regardless of macro news, a new bottom test at the four-hour level will be conducted. $BTC
Bitcoin OI and CVD have maintained a very stable increasing structure for five consecutive days. Retail investors' market price chasing sentiment continues to rise with the short-term decline in price, while the profit-taking in the spot market is mild, indicating that the distribution is nearing its end but has not completely finished.
The turnover between long and short positions is slow, but the accumulation of large fund short positions is showing an expanding trend.
The market structure has short-term resistance at 74000 points, with dual support at 70000 points and 68000 points forming the low points of the oscillation range over the past two months.
In the future, breaking 74000 points or 68000 points will indicate the end of the short-term oscillating market. Personally, I maintain a bearish view on the daily structure; once the distribution ends, regardless of macro news, a new bottom test at the four-hour level will be conducted. $BTC