Analysis of the market for $BTC , can it go up?
Brothers, let's get straight to the point! Bitcoin might make a big move this week.
Keep an eye on the 1-hour chart; the critical line at 103800 must be etched in your mind! The price is currently crashing into a dense area with 5% trading volume, which was the starting point of the explosive rally three months ago, and now it's full of trapped positions.
The MACD red bars haven't shrunk for three days, indicating that some experienced traders are secretly catching falling knives, but the rebound strength is as weak as an IV drip.
The strangest part is that technical indicators are fighting among themselves—KDJ just formed a golden cross, yet the price is being heavily suppressed by the monthly and quarterly moving averages, with trading volume bars decreasing for seven consecutive days, clearly showing that the bears are waiting for a big move.
Currently, the market is filled with a strong smell of gunpowder; the bulls want to defend and counterattack using support levels, but if you look at the capital flow, the main wallets have been withdrawing coins these past two days.
In my personal judgment, a disaster could happen at any moment! If it really breaks below 103800, there’s at least another 5% downward space, and leveraged positions might explode by two hundred million dollars.
Now, the USDT lending rate on exchanges has skyrocketed to 18%, indicating that the market makers are preparing ammunition to crash the market.
Better to miss out than to make a mistake.
Remember, support levels in a bear market are just paper, only defense lines built with real money matter.
Are you trapped? When will you bottom fish? Still the same saying, if you're confused and don't know what to do, click on the profile and comment. I need fans, and you need references.
