Emergency Interpretation! The Truth Behind Last Night's BTC Flash Crash of 10%, Can It Rebound Today?
Last night's BTC plunge was truly breathtaking!
It directly broke through key support in one hour, and liquidation news flooded the network. As an experienced analyst focusing on on-chain data, I will break it down clearly for you based on today's latest K-lines and market dynamics:
Why the plunge? Double whammy of news and technical factors!
News: Last night, news suddenly broke that the US SEC is re-examining the leverage risks of ETFs, coupled with the on-chain sale of nearly 10,000 BTC by a major player, and market sentiment collapsed instantly. With the negative factors overlapping, the whales took the opportunity to dump.
Technical: Looking at the 1-hour chart, BTC was originally fluctuating between 113000-114000, but the yellow line was directly broken, followed by the loss of the 111500 key support, triggering programmed selling. The "support level" of 110000 was almost breached, and panic selling emerged.
Keep an eye on key positions today!
Resistance Level: 112600 white line moving average, 113400. If the volume is insufficient when rebounding to these two positions, reduce your holdings quickly!
Support Level: 110500, 109800. As long as it holds, a short-term rebound is expected. If it breaks, it may go to 108500!
Current price 114010 is a pullback after a fake breakout, don't rush to chase the rise. The volume hasn't increased significantly, it may be a bull trap!
My personal opinion: Don't panic, but don't be reckless!
Short-term: Market sentiment has not yet recovered, and rebounds are opportunities to reduce holdings, especially for those using leverage.
Mid-term: 110000 is a key watershed. If it holds, the probability of a fluctuating recovery in September is high; if it doesn't hold, it may test 105000.
Trading Advice: Hold onto your spot holdings, and for contract players, watch the 110500-112600 range for buying low and selling high during the day, and keep a close eye on US news at night!
Conclusion: A sharp drop in a bull market is a normal correction, but the double blow of negative news and technical breakdown will definitely lead to short-term volatility.
Don't cut your losses during panic, and don't be greedy during rebounds! Follow me for real-time updates on key position changes!
#ETH走势分析 Bitcoin profitable wallet count hits new high
