June 8: BTC Bullish Momentum Weakening, High-Level Fluctuations, Pay Attention to Pressure Signals
—— Bulls are weak, high-level fluctuations, pay attention to VWAP pressure signals
1. Market Brief:
BTC yesterday (June 7) closed a standard long bullish candle on the daily chart, reaching a high of 105,900 USDT. However, today (June 8), the price is clearly under pressure, showing continuous fluctuations on the hourly chart, with small bearish candles alternating, indicating weakened bullish momentum and that the market has entered a contest phase.
2. Technical Analysis:
1. VWAP channel suppression is evident
From the chart, it can be seen that the price has repeatedly attempted to break the upper VWAP band (yellow line) but has failed to do so effectively. The current price is suppressed near the mid-band of the VWAP, indicating that funds are attempting to control the market but lack sustained incremental volume.
