$BTC Review of yesterday: When the rise happened, I happened to be in @Crypto交易员朱一旦 's live room, I said this wave of rise might be a trap to lure in more buyers, why do I say this?

Last night's 11 PM data overview:

Contract open interest $68.597 billion (+3.82%) Funds are accumulating very quickly, and risks are building up.

Contract trading volume -24.32% The trading has actually decreased, indicating that this is a rise driven by 'passive liquidation orders.'

Options trading -48.59% No hedging intent, danger signal.

Funding rate 0.0080 (positive and stable) Long position costs are rising, not extreme but already overheated.

Short position liquidations (24h) $22.3091 million A total of twenty million dollars in short positions were completely blown up—typical 'squeeze + sweep' trend.

This indicates that the main force is not using real money to push, but rather 'using forced liquidations to set the pace.'

Trading behavior & Position behavior:

Cumulative volume delta (CVD) has jumped significantly (+3.566K): Active buying is strongly flowing in, this is a sharp buying type, not a volume stacking support.

Balance of volume (OBV) is still moving but at a slower pace: This indicates there may be behaviors of increasing positions while decreasing them.

Open interest surged to 81.8K: Long positions are heavily leveraged and may face a reversal at any time.

In summary:

It’s not that the market suddenly became strong, but that the main force needs a wave of 'buying the dip cannon fodder.'

📊 Today's morning analysis: Surface oscillation, but in reality, high risk.

Currently, BTC is still oscillating at a high level; on the surface, it seems the price hasn't collapsed, but the underlying momentum has begun to weaken.

🔍 We break it down from several common indicators:

1. Bollinger Bands (15 minutes & 1 hour level)

After breaking the upper Bollinger Band yesterday, it quickly fell back, currently back below the mid-band.

The Bollinger Bands are narrowing, and the market no longer has expansion momentum → It is a return after a false breakout

2. RSI (15 minutes & 45 minutes)

RSI once surged to 80+ overbought zone, currently falling back to below 60.

A top divergence structure formed, indicating that prices are hitting new highs, but momentum is declining.

3. Trading volume

During the rise, the trading volume was extremely high, followed by a sharp decrease.

This indicates that after the main force's rise, they did not continue to increase positions, but rather 'pulled while walking,' leaving high-level trapped positions.

4. Positions and rates

Contract open interest has slightly decreased, but the funding rate is still high → Market sentiment has not cooled down, indicating that there are still long positions that have not fled.

⚠️ Today's trading advice:

If you have long positions, it’s advisable to take profits and not to linger, especially if unable to stabilize above 105,000.

If you want to short, you can wait for a rebound that does not break the 105,000~105,300 range, then confirm the weakening structure before entering.

Stay on the sidelines and wait for the market direction to become clear, currently it's a typical 'top building period,' not advisable to bet casually.