$BTC Price consolidation awaits breakthrough, beware of the "false breakout" trap
BTC currently reported around $103,700, with a slight decline of 0.03% in the last 24 hours. The intraday trading range has narrowed to $102,600 - $104,700, with a stalemate between bulls and bears.
Trading volume has decreased compared to a few hours ago. Although the price has risen, the divergence between price and volume indicates weakening upward momentum, and caution is needed regarding the risks of "volume-less surges" inducing buying.
Key resistance levels: $104,900 - $105,000. If unable to break through, a pullback to the support level of $103,350 - $103,800 may occur.
Recently, Bitcoin's on-chain trading volume has remained sluggish, with large transfers accounting for less than 5%. Retail participation is insufficient, which may limit the height of any rebound.
The long-short ratio in the derivatives market is close to 1:1. Liquidation data shows a slight increase in long positions, but a unilateral trend has not formed, so caution is required regarding severe fluctuations caused by contract liquidations.
If the price cannot stabilize above $104,900, it may replay the "high and then fall" scenario, with the support level at $101,300 being precarious.
Trading volume continues to shrink, and the market depth is insufficient; large orders are prone to slippage, necessitating careful stop-loss settings.
$BTC is currently in a directional choice window, with both bulls and bears lacking decisive chips. Investors need to closely monitor changes in volume and the situation regarding the breakthrough of key resistance levels to avoid blindly chasing highs due to "FOMO sentiment".
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