BTC surged to 95,500 before plummeting! Are the big players playing 'fishing law enforcement'? Retail investors, don't be the ones left holding the bag!
BTC is currently stuck in a dense area of moving averages on the four-hour chart, with EMA15 (94,069) and the short-term EMA (94,251) forming strong resistance above, and prices are repeatedly testing around 93,988.
Three key signals: First, the RSI1 (42.15) and RSI3 (61.87) show a divergence, indicating that the short-term upward momentum is being targeted by bears; Second, the volume bars have shrunk for three consecutive periods, and the bullish line in the early session was clearly a low-volume push; Third, the defensive band formed by EMA60 (90,514) and EMA120 (92,878) has started to move upward, with the main players placing support orders below.
My personal judgment is that today will form a converging triangle: The upper pressure levels are indicated by the EMA15 and the downward trend line formed by yesterday's high of 95,500. During the day, it's highly likely that we will touch the 94,500-94,800 area before retesting the 93,000 mark. If it effectively breaks below 92,878, the weekly EMA support, it will trigger stop-losses for the bulls, heading straight for the 90,500 mark. It is important to be cautious as the current RSI3 value is still in the overbought zone, be careful of sudden spikes.
Hold your spot positions steady and don't make rash moves; contract traders should wait for the breakout direction after the four-hour line change at eight o'clock tonight. I noticed that a whale account has placed over 3,000 BTC buy orders at 93,500, and whether this level holds will determine if tonight is a bull reversal or if the bears are burying people.
Currently, the upward trend has sustainability; you can wait for the price to pull back and continue to position yourself.
Continuously layout strong altcoins, follow along with the message 111, and Wuchang will lead the way!
