Why does $ETH surge while $BTC remains still?
The BTC market had some interesting movements early this morning, and the direction of large funds is worth noting. In the last 12 hours, the net inflow of main funds exceeded 26 million, with buying surpassing selling by nearly 20%. Especially around seven and nine o'clock in the evening, there were two consecutive waves of 44 million entering the market, clearly indicating an accumulation for a bullish trend.
On the technical side, there have been three consecutive bullish candles, and the short-term and long-term moving averages are starting to entangle upward. Although the trading volume hasn't significantly increased, the ongoing inflow of main funds resembles an undercurrent.
Currently, the price is stuck between two key moving averages, as if standing on the edge of a diving board. This situation of reduced volume and accumulation has two possibilities:
Either the main funds are secretly accumulating to prepare for a violent surge, or the retail investors lack the following, leading to a failed breakout. Focus on two key positions:
If there is a volume breakout above the previous high resistance of $104,500, it may directly rush towards the $105,000 mark; if it can't hold the support at $103,000, a short-term pullback to $102,000 may occur to find support.
Current market sentiment is a bit subtle. Although the daily chart is still in an ascending channel, the 4-hour chart has shown a divergence signal at the top.
It is recommended that those holding positions observe the effectiveness of the breakout; if you haven't entered the market yet, don't rush to chase highs—wait for a pullback confirmation before entering in batches.
Remember that the risk of liquidation in leveraged contracts still exists, especially with a large number of short positions accumulated around $104,000, which could easily trigger a battle between long and short positions as the price approaches.
Are you trapped? When to buy the dip? As always, if you're confused and don't know what to do, click on my profile picture and comment. I need fans; you need references.
