Analysis based on news and market data #BTC for the next 24 hours

1. Technical analysis and current market data

• Current price: 107.222 USDT, slightly down ~1.35% in the last 24 hours.

• Technical indicators: RSI(6) = 37.9, RSI(12) = 36.4, RSI(24) = 39.6 (all below 40, indicating the market is weak, not yet in the oversold zone but selling pressure still dominates). The price is below the MA(7), MA(25), MA(99) confirming that the short-term downtrend is still in effect.

• Long/Short Ratio: Charts show that the short position ratio and the number of short accounts have both increased sharply, clearly dominating over long positions in the most recent 1-hour frame. The Long/Short ratio line is steeply rising, reflecting market sentiment leaning towards short.

• Open Interest: The volume of open orders (OI) has increased slightly but the nominal OI value is flat, indicating that new money is not coming in strongly, and the market may experience strong volatility if unexpected news arises.

Proposed strategy:

• If the price retraces to the range of 107.800 - 108.200 USDT: Prioritize shorting, as this range is a technical resistance and market sentiment is still leaning towards selling. Set stop loss above 108.500 USDT.

• If the price drops to the range of 105.500 - 106.000 USDT: Consider short-term long, with a target to take profit around 107.000 - 107.800 USDT, stop loss below 105.000 USDT.

• Avoid FOMO in the middle of the current price range (107.200 USDT), wait for the price to reach the lower boundary or the resistance area before entering a position.

Conclusion

• Prioritize shorting in the range of 107.800 - 108.200 USDT if there is a retracement, as short position data still dominates and technical indicators have not confirmed a strong upward reversal.