The weekly chart skyrocketed by $124,000, but the giant whale $BTC dumped $12.4 billion! A death cross amidst the celebration?
The weekly chart surged by $124,000, with the MACD bars jumping by 159%! However, the whale transferred 100,000 BTC overnight; is there a landmine buried under the bull's hooves?
Here’s the latest technical analysis!
1. Price aspect: The price broke through $124,000, and the weekly chart surpassed its previous high? The trading volume only increased by 54.22% (compared to MACD bars’ 159.7%), a blatant price-volume divergence! It's like a rocket trying to lift off with insufficient fuel, ready to crash at any moment!
2. MACD aspect: The red bars skyrocketed by 159.7%, red bars to the sky = short sellers’ ammunition loaded! The higher the price rises, the fuller the powder keg for a pullback. Iron rule: when the bars rise more than the price, it’s a prelude to a crash!
3. Volume aspect: A 54.22% increase, a weekly-level market, and the volume increase is less than half of the previous bull market high (2021 requires 100%+). Purely relying on retail FOMO to stay alive while institutions watch coldly!
II. Latest on-chain news!
1. The giant whale flashes its sickle: on-chain evidence — a single transaction of 100,000 BTC ($12.45 billion!) dumped into the exchange. Holding at a high position is like announcing I’m going to crash the market!
2. Options ETF double-edged sword: The SEC approved the Bitcoin options ETF this morning, which appears beneficial but actually hands the short sellers the nuclear button! Institutions can legally short, and volatility is going to explode.
3. Miner selling pressure surges! 24,000 coins sold in 7 days, primarily from North American listed mining companies (like Marathon, Riot), with daily liquidation volume hitting a six-month high, initial signals of miner capitulation!
Caution! Is this weekly surge a real bull charge or the start of a meat grinder? Old Zhang is monitoring on-chain — if another 50,000+ BTC flows in within 72 hours, a waterfall will wash through the entire network!
I am Tang Seng, top technical support, serving only those with vision and ambition!