$BTC #StablecoinPayments BTC AND MARKET OVERVIEW ON

1. Total market capitalization is 3.01 trillion. BTC.D accounts for 63.8% of the total market cap, altcoins are not increasing, fluctuating around 28.9 - 29.1%. Money is being pushed into Bitcoin. However, the psychological resistance level lies at 3.15 trillion (when reaching this level, it starts to decline sharply to 2.56 trillion).

Regarding BTC:

On the H1 frame, the Bollinger bands are narrowing, the fluctuation range is extremely tight (about 800 points), this is a very important observation phase, and Kiet believes that the 95k level will be maintained for a while. However, the RSI strength index is showing signs of a peak divergence, further signs such as a reversal candle cluster are needed before a strong SHORT can be executed.

On the H4 frame, a bearish engulfing reversal candle cluster has appeared, however, the volume of the red candle is relatively low. On this frame, after a while, SW has broken out of the SW area and reached a new peak of 97k3xx. Observing liquid headmaps shows that the liquidation area around 98k - 99k still exists, this is a region where whales may push the price to kill liquidity. Traders shorting should pay attention to this. Nevertheless, the liquidation levels of LONG positions are thickening in the 94k - 96k area, so LONG holders must be very cautious of being liquidated.

Checking the firechart today, the BROWN whales and PURPLE whales are still maintaining a relatively good price, the first bidding price can be lowered to 95k.

The green and orange small fish are participating relatively weakly, pay attention to the red fish which is currently the guiding fish to lure the small fish to buy up together. The price may adjust back to 94k - 95k before bouncing back up to the 98k - 99k area.

Today, the priority is to SHORT first and then wait for BTC to return to the 94k - 95k area to buy altcoins.