The sideways market is making me itchy! The position at 107500 will see blood from both bulls and bears tonight.
This market is infuriating! BTC is stuck at 107500 like a log, fluctuating less than 200 dollars all day, and the manipulation from the whales is deafening. But don't be fooled by this stagnation—above, from 108600 to 109000, is a big coffin, where many bulls were buried last night; below, 105300 is firmly locked, with the weekly support at 103996 being as solid as a rock. The MACD is sticky under water, the 30-minute chart shows red bars but the DIF is still below the DEA, clearly indicating suffocation before the storm!
On-chain whales are making moves! 800,000 BTC are being crazily snapped up.
Last night, a nuclear-level signal erupted on-chain: long-term holders scooped up 800,000 BTC in June, with the monthly increase reaching a ten-year high! Historically, this situation has occurred five times, and after that, it’s been all bull market for 90 days. These old foxes have their costs concentrated in the 95000-107000 range, forming a double support level with short-term chips, stronger than a bomb shelter. Miners are even fiercer, hoarding 4000 BTC since April, with reserves hitting a six-month high—these seasoned players are tightly holding their chips, clearly waiting for bigger gains!
The whales are playing psychological warfare; the turning point is tonight.
The market is as cold as a morgue now, with both volume and prices dropping, playing dead. But I smell gunpowder: the Fed is hinting at a dovish stance with possible rate cuts in July, a sudden ceasefire in the Middle East, and rapid advancement of regulatory bills in Europe and America—**three major catalysts are charging risk assets**. The whales are waiting for the US market to open tonight, either for a big surge to breach the Bollinger upper band at 108672, or to crash and trigger stop-loss orders below 105300.
The strategy is on the table: spot traders should just lie down and not give away their heads! For futures, either stay out and watch the show, or if it breaks 108800, go long targeting 114950; if it crashes to 105300, close your eyes and buy the dip, and if 103996 breaks, just accept defeat. The longer the sideways movement lasts, the more violent the explosion will be—a volcano that can't be contained under the coffin board will reveal its true nature tonight!