Technical Analysis of $BTC

Short-term Trend: Bitcoin has strongly rebounded from the low of $100,377 on June 5, showing strong buying support.

Technical Indicators:

RSI Indicator: Quickly rebounded from the oversold area to around 55, indicating strong rebound momentum.

MACD Indicator: A golden cross appeared below the zero axis, with the histogram volume rapidly increasing, indicating that the short-term downward momentum has been exhausted.

Bollinger Bands: The lower band provides strong support around $101,000, and the price has now returned to operate above the middle band.

Pattern Analysis: A typical V-shaped reversal pattern is presented, with a rapid rebound from the low on June 5, indicating that the market has gained strong buying support at low levels.

Market Dynamics

Market Sentiment: The Fear and Greed Index has risen to 69 (Greed Zone), but high leverage has led to over $452 million in liquidations across the network in 24 hours, with short positions accounting for 57%.

Capital Flow: Bitcoin ETF experienced a net outflow of $616 million in a single day, setting a recent record, as institutional willingness to take short-term profits has increased.

Miner Selling Pressure: Daily selling volume has increased to 15,000 coins, which may suppress the short-term rebound.