The battle to defend $94,000 has begun, with warnings of whales dumping + a double whammy from the Fed's interest rate hike!
Currently bouncing around $97,865, appearing strong but actually hiding dangers!
The MACD indicator shows a 'lack of upward momentum' with a bearish divergence signal, and trading volume is nearly 40% lower than expected (actual trading 11,200 coins vs. estimated 18,000 coins), the 5-day and 10-day moving averages are almost touching the current price!
Once it falls below the critical line of $94,000, the short-term moving averages will immediately turn into resistance, and bears may directly dump!
Worse yet, on-chain data is blowing up: a certain whale just stuffed 12,000 BTC (worth $1.17 billion) into the exchange, if this gets dumped… combined with the Fed's potential 50 basis point rate hike in September, market panic has reached its peak!
Both bulls and bears are fiercely competing at this critical level of $94,000, with 500,000 low-cost chips stacked down at $74,000.
This is the most delicate moment in the market! Want to catch the big moves of the main funds? Want to seize the opportunity before institutions adjust their positions? While others are still watching the candlestick charts, you already know in advance whether the main funds are accumulating or distributing!
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Focus for the day: BTC ETH SOL
