BTC Reveals False Breakout Trap! Bears Control Today's Rhythm!
1. Market Analysis
At 10:15 this morning, this five-minute candlestick exposed the main force's conspiracy. The opening price of 94346 seemed to be pushing towards the strong resistance area of 95000, but in reality, it only managed to reach a maximum of 94418 before losing momentum, closing back down to 94310, forming a standard false breakout pattern. The middle band of the Bollinger Bands at 94598 has become a short-term resistance level, with the current price oscillating weakly between the middle and lower bands, and the BOLL opening showing a clear downward expansion trend.
The MACD indicator further confirms the strong bearish sentiment, with the DIF and DEA forming an inverted death cross, and the green energy bars have expanded to -138.0 levels, marking the first continuous increase in bearish momentum in the last three days.
2. Key Volume Indicators Expose Secrets:
During the morning surge, the trading volume shrank by 37% compared to the same time yesterday, and signs of capital outflow appeared during the pullback phase. The current price is forming an oscillation range between 94119-94598, but caution is required regarding the key support level at 94300. A valid break below this level will trigger stop-loss orders in the 93900-93500 area.
3. Underlying News Flow
Combining today's latest dynamics, the US Bitcoin spot ETF has seen a net outflow of $120 million for three consecutive days, and BlackRock's IBIT recorded its first day with zero inflows, explaining why the main force chose to distribute chips at high levels. On-chain data monitored a large transfer of 2872 BTC at a certain exchange in the early morning, coupled with the funding rate of the BTC/USD perpetual contracts on Bitfinex plummeting to -0.012%, indicating that large players are positioning for bearish positions.
Notably, South Korea's financial regulatory authority suddenly released a signal that "may delay the implementation of cryptocurrency taxes," introducing variables into the Asian trading session. However, the current market has formed a classic distribution structure of "no volume surge + increased volume pullback," a pattern that appeared with a highly similar trend on the eve of the decline on April 19.
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