$BTC $ETH Short-term analysis, beware of traps!
Bitcoin is currently hovering around $94,000, a position that feels like a "no man's land"—heavy selling pressure above and little buying support below.
In the last 12 hours, trading volume has shrunk by nearly 40%, like a market suddenly going quiet; this kind of dull market is most prone to unexpected events.
Although the candlestick has formed a long lower shadow and a small body, it appears that bulls and bears are in a tug-of-war, but the range between 93,500 and 94,000 is like thin ice, which could break at any moment.
Below 94,000 is all a vacuum zone, with no obvious buy support; a drop could trigger a long liquidation.
The RSI indicator has just broken through its downward channel, and such technical reversals often accompany sharp declines.
On-chain data shows that whale addresses are transferring assets to cold wallets.
The daily outflow of the spot ETF reached $320 million, but miners are increasing their holdings.
The proportion of put contracts in the options market has risen to 47%, reaching a three-month high.
Net inflows to exchanges surged by 40%, suspected to be institutions accumulating positions at low levels.
Pay special attention to two levels: if it breaks below 93,500 with volume, it could head straight for 92,000, but if it can hold above 94,000, it may trigger a rebound towards 95,500.
It is particularly important to note that the Federal Reserve's meeting minutes the day after tomorrow could cause significant market volatility; any breakout signal needs to be confirmed with trading volume.
Are you stuck? When to bottom fish? As I always say, if you're confused and don't know what to do, click on the avatar to comment. I need fans, you need references.
