ASR-VC Indicator 4h Channel Status Update:

$BTC price has officially retraced to the mid-track of 105k, fulfilling last week's expectations, but the market sentiment has completely changed. During this process of oscillation at this high position:

1. Initially, I expected the price to quickly pull back to 105k;

2. Then I felt it couldn't go down, hoping for a price breakout upwards;

3. Afterwards, I was waiting for the price to pull back...

Back and forth, it’s really exhausting;

Now the price has only fulfilled the initial expectation...

Returning to today's market, as the 4h line retraces to the mid-track, theoretically this is still a buying point for the next phase of the bullish trend. Since the stop-loss is very small and the risk-reward ratio is high, I am still relatively optimistic about going long...

As long as the price doesn’t confirm a break below the mid-track, then the short-term pullback is healthy!

Having discussed the trend structure, let's take a look at the spot premium level. Although the spot premium has decreased somewhat, it doesn’t seem to correspond with this continuous pullback. The current premium level is almost the same as the lowest premium when the price was around 107k...

The price has pulled back more than 3%, but the premium has basically not decreased, indicating that this pullback is a liquidation action targeting the bullish liquidity driven by futures.

Meanwhile, the spot market has merely maintained a passive follow-up or small sell-offs, not being the main driving force behind the price drop.

Therefore, from both a technical and news perspective, the current pullback seems more like emotional trading rather than a reversal of the main narrative.

When the market has emotions, we just help it return to a normal emotional state.

In terms of trading strategy, go long near the mid-track, and set a stop-loss if the 4h line confirms a break below the mid-track. The first target is set at the upper 4h secondary supply zone (108k~109k), and the second target is set at the historical previous high supply zone (111k~112k).