Behind the massive sell-off of 279 million: Is $BTC brewing an epic crash?
I am now clearly bearish on Bitcoin's future!
In the past 12 hours, major funds have sold off crazily, with large orders totaling 279 million USD, while the large buy orders were only 164 million, resulting in a net outflow of 116 million USD, with a buy-sell ratio of 1:1.71, clearly indicating that the main players are retreating.
The K-line has formed a doji shape, indicating that both bulls and bears are in a fierce struggle, with a turning point just around the corner.
The technical indicators are even less optimistic; the short-term EMA24 has already fallen below the long-term EMA52, and the medium to long-term trend is clearly moving downward, which is entirely consistent with the direction of the main funds fleeing.
Although the short-term trading volume has slightly increased, the overall volume is still dominated by bears, and there is significant downward pressure. Bitcoin is likely to drop further!
Are you trapped? When will you bottom fish? Still the same saying, feeling lost and helpless not knowing what to do, just click on the avatar and comment. I need fans and you need references.
