$btc futures buying pressure from the market is too weak. Once any disturbance occurs, these users will be the first to flee. In the past few days, the selling of ETFs has directly pushed the price back down to 11.3k.

From a daily perspective, after BTC broke new highs, it has been falling without any buffering area. The bears have a simple goal: to make the longs give back all their profits. Retail investors end up going short when they should go long, and going long when they should go short, being played around in circles.

If this week does not have a good closing, the weekly candlestick will form a double top, which is a significant double top. To digest this double top, at least one month of consolidation is needed. And this month happens to coincide with the Federal Reserve announcing interest rates.

I hope the bulls can hold the position at 11.1k this week.