BTC Noon Observation: 111,400 legs numb from squatting, is it time to jump or to add more?

In the early morning, there was a sharp drop, directly hitting 110,7, resulting in a trading volume of only 1,250 BTC—less than one-tenth of the average volume, a typical "volume scare", and the bears are feeling uncertain.

Then it rebounded, pulling up to above 112,000 within an hour, but unfortunately, the ETF did not cooperate, with another outflow of 500 million in the early session, leaving the bulls to retreat back to 111,4.

In the noon session, the volume shrank again, with the 1-hour K-line as narrow as noodles, the main force is asleep, retail investors are just scratching, everyone is waiting for direction.

Technical Overview

The EMA7 and EMA30 just formed a dead cross, with 111,800 as the first level of resistance; if it doesn’t hold here, talking about a rebound is just nonsense.

The MACD green bar is shorter than in the early morning, the DIF is starting to rise, the downward momentum is slowing, but it hasn’t turned red yet, so don’t rush to be bullish.

The RSI is in the range of 46-51, neutral and a bit boring, there’s space both up and down, so for now, don’t fantasize about overbought and oversold.

Noon Strategy,

Look for a pullback near 110800-110900, then first look at the area around 111700-112400

Wish you smooth trading in the afternoon, set up your orders, eat well, and don’t let a needle wake you up! #BTC☀