$BTC Giant Whale Overnight Trading Exchange! Bitcoin has dropped to the critical level of 114,000! How much longer can the bulls hold on?
The volume has broken through the critical level, and the BTC one-hour chart is telling us: without bullish momentum, the bears continue to dominate.
1. Latest news on technicals!
1. Although the MACD shows a golden cross, both the DIF and DEA are still below the zero line, and the slight narrowing of the MACD histogram does not indicate a return of the bulls; it's just the bears taking a breather.
2. The trading volume is even more apparent, with the actual volume at 468.8, not even reaching the MA5's first decimal, indicating that the market is completely lacking enthusiasm, and everyone is just watching from the sidelines.
3. The moving averages are forming a death cross, with MA5 and MA10 creating a bearish arrangement, making it very difficult to reverse the trend without breaking through the 116,000-118,000 resistance area.
2. Latest news on on-chain data!
1. The Federal Reserve is hawkish, and risk assets are collectively bowing down, with Bitcoin miners' holdings hitting a new low for the year, and the selling pressure continues;
2. The US Dollar Index (DXY) has stabilized at 104, suppressing the entire crypto market. On-chain data also indicates that a giant whale is transferring coins to the exchange; is this not preparing to dump?
Remember! The bull market does not declare a peak, and the bear market does not declare a bottom; opportunities are waited for, not rushed.
I am Tang Seng, top-level technical support, serving only those with vision and ambition!
