BTC has broken the key level of 118,000, what signals are hidden behind it? Don't be fooled by the surface decline!
Today, BTC briefly fell below the 118,000 USD mark, with a 24-hour decline of only 0.8%, but the loss of this position is not simple.
Technical structure analysis:
118,000 USD is a support level that has been confirmed multiple times in the past, forming a small platform; once it is broken, it may trigger short-term stop-loss exits.
Although the current price has not significantly dropped, based on the increase in active sell orders + a decrease in bullish positions, there is suspicion that the main force intends to suppress and accumulate.
The hourly K-line shows a volume decline, but the OBV has not broken down simultaneously, indicating limited bearish momentum, more of a washout rather than a trend reversal.
Data indicators suggest:
The funding rate for BTC perpetual contracts has declined, market sentiment is bearish, but there is no panic.
The USDT premium index remains stable, indicating that off-exchange funds have not flowed out and are still observing for low-buy opportunities.
In the past 6 hours, large on-chain transfers have been frequent, mostly deposits to Binance addresses, suspected main force accumulation at low levels.
Operational advice (for reference only):
Short-term operations: mainly observe; if the 117,200~117,500 range stabilizes, you may try a light position to bet on a rebound.
Medium to long-term: if it dips again but does not break the 115,000 support, it may be an excellent bottom-fishing window.
Don't be confused by the "0.8% decline"; the real signal is the behavior of the main force after the key level is broken.
The market appears calm on the surface, but underlying funds have already begun to adjust positions.
Those who understand have already started looking for entry points, while those who don't are still in panic and waiting.
The next wave of direction, once confirmed, will be very quick.
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