5.16 BTC has finished retracing and has started to fluctuate, is a storm about to arrive?
Bitcoin personally believes that it is about to enter a period of fluctuation. Currently, the market shows that there is no catalytic news to push it past the 110,000 mark, and many early buyers are likely to sell at this price and wait to buy in at a lower price. From the daily liquidation chart, it appears that shorts are greater than longs, and in the short term, it may first test the 102,500-100,800 position before rebounding. The specific trend is very tense; as long as the price does not break the 100,000 position, we can primarily focus on buying low. If it breaks below 100,000, it will form an M top on the 4-hour line.
In the last 12 hours, large transactions show that the main funds are clearly leaning towards buying, with a net inflow of 50.64 million and a buy-sell ratio as high as 2.85:1. In the latest 2-hour cycle, large market buy orders have continued to emerge, especially when the price retraces to around EMA52, indicating that the main funds are accumulating at a low price. Although large market sell orders have appeared, their scale is small and have not formed effective suppression. Combining with indicators, current trading volume is shrinking, market interest is low, but large transactions are active against the trend, suggesting that the main funds are quietly laying out their positions.
Buy Bitcoin at 102,500, first target at 104,000, second target at 106,000.
Buy Ethereum at 2,500, first target at 2,580, second target at 2,680.