The monthly line for $BTC is about to close.
There is a high probability of a significant drop next month, with prices needing to return to around 85000, and it may even drop lower.
After three rebounds to 95000, the price was immediately pushed down. While the trading volume has increased, the price cannot rise, indicating strong selling pressure above.
This typical signal of volume-price divergence suggests that the upward momentum in the market is weakening, and there is a strong willingness to sell from trapped positions above.
The main funds will likely maintain a monthly closing bullish pattern through horizontal fluctuations, so in the short term, prices will form a consolidation range around 95000, repeatedly washing out and digesting selling pressure.
Even if the price temporarily breaks through the high of 95780, it will at most reach 96200 - 96600, and if it goes up to around 97700, it will basically be at its peak.
Key reference points:
• Resistance levels: 95500 (short-term pressure), 96600 (dense trading zone), 97700 (strong resistance area), 98200 (historical high area)
• Support levels: 93000 (short-term support), 92200 (lower edge of the consolidation center), 91600 (bull-bear dividing line), 90900
Thought reference:
Sell high (short near 95200, take profit near 92200)
Buy low (long near 92220-91600, take profit near 93400-94500)
