After this rebound, I smell a signal for a market change!
BTC jumped from 94k to 96.4k as scripted, with a rebound stronger than expected, but the overall direction hasn’t deviated.
Everyone is now watching the trend line, hoping it will hold the price, but this broken line has long been played out by the main players!
This time, it is highly likely to break down, with the aim to liquidate long positions. Retail investors are eagerly waiting for support, while the main players will directly smash through and force you to cut losses, then reverse and push up. This routine is all too familiar; what the main players want is for you to bet on support and then short the market, wiping out all the long positions.
From a technical standpoint, the 4-hour chart’s SR-SI has surged into the overbought zone, and the RSI has even shown a bearish divergence.
The risk of a very short-term pullback is extremely high, don’t stubbornly chase the highs!
Indicators don’t lie; staying too long in the overbought zone will inevitably lead to a correction, and a bearish divergence is a signal of exhaustion for the bulls. Jumping in at this time is like giving money to the main players.
92k is the critical line that both bulls and bears are fighting over; breaking below it could trigger panic selling. Don’t think 92k is far away; when market sentiment changes, it can drop to that level in a minute. If it can stabilize after dropping to 92k, the daily EMA20 moving average will support it, pushing the price up to 102k again.
But if any negative news comes out during this time, the market could directly drop to the weekly support level of 85-86k, which would be the real golden pit.
Remember, opportunities are waited out!
With interest rate cuts approaching, I plan to publicly lay out a strategy for a meme coin, expecting a tenfold increase in the short term and a hundredfold in the long term. The same market conditions, top strategies; follow along to witness everything.
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