5.3 Weekend Morning Market Overview: $BTC High-Position Consolidation

The Bitcoin opened this morning with an upper shadow and a bullish candlestick; the bearish strength is strong, and the funding rate is also negative, mainly continuing the downward fluctuation during the day.

Bitcoin has a head and shoulders pattern, with the right shoulder forming around 95.2, but it might not be definite; during the day, Bitcoin is still hovering around the 96.5 support level looking for direction, where 96.5 is the 0.618 position of this rising range; once it breaks down here, watch for support at 95.5-95; conversely, if it breaks down and the rebound is weak, the market will experience another wave of fluctuation, as this range has only been pulled up in the last two days, and the market needs to correct with the dealer needing to consolidate and accumulate; observe the trend.

The Bitcoin Spot ETF saw large net inflows last week. Do you think the bull has returned? As of now, the total liquidation in the last 24 hours is 140 million, with longs and shorts balanced at 55, indicating that the direction is currently unclear, so let's wait and see.

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