$BTC is hanging by a thread, can it rebound successfully tonight!
Brothers, the market is starting to feel off! Let's get to the conclusion first: Bitcoin now feels like it's running with sandbags tied to it, each step comes with heavy gasps.
Several key technical signals have already turned yellow—on the 90-minute chart, the short-term moving averages (EMA24/52) are all pressed below, and the mid-term moving averages are turning downwards, clearly indicating that the bears are in control.
What hurts more is that the main funds have piled up a "high pressure line" around $104,700; whenever the price tries to nudge upwards even a bit, it gets slammed back down immediately, acting like a heartless ceiling.
Although the K-line has formed a "bottom formation" in the past two days trying to stage a rebound, the momentum is weak as if it hasn’t eaten breakfast, and even the RSI's double bottom structure couldn’t push up, indicating that the bulls simply lack strength.
Ironically, the KDJ golden cross reversal signal now seems like a trap for enticing more buyers—trading volume has increased by 23%, but a closer look reveals it's all retail investors cutting losses, with the main funds not stepping in to support the market at all.
In my personal judgment, this pullback hasn’t bottomed out yet. Bitcoin is currently stuck at the life-and-death line of $98,000 to $100,000 (if this position breaks, it will definitely plummet to $93,000), but the good news is that if it holds, the rebound target can look towards $109,000 or even higher.
However, the current market sentiment changes faster than a Sichuan opera face change: on one hand, the expectation of a Federal Reserve rate cut is keeping people on their toes (they might act in September), while on the other hand, institutional funds are secretly increasing their positions, making the situation feel like walking on a tightrope.
In terms of operations, I suggest lying flat and observing! Don’t be fooled by some analysts shouting "buy the dip"; jumping in now is like catching flying knives.
If you really want to take action, wait for two signals: either volume increases and stabilizes above the $108,000 resistance level (a breakthrough signals a new trend), or a panic sell occurs around $98,000. Only then is it the golden opportunity to pick up chips.
Remember, bull markets can drop sharply, but don’t let faith blind you—risk control comes first, and staying alive is the way to wait for a big bullish candle!
Are you stuck? When to buy the dip? It’s still that saying, if you’re confused and helpless and don’t know what to do, just click on the avatar to comment. I need fans, and you need references.
