【The showdown between bulls and bears is entering the final countdown!】
$BTC is currently stuck at 106200, with the five-minute chart having accumulated 30 horizontal lines, and the price is being suppressed by the Bollinger middle band at 106330.2. This price chart looks just like an ECG, with the opening price, highest price, and lowest price all stuck at 106231.7, as both bulls and bears are in a tug-of-war. The trading volume on the right has shrunk to a hair's breadth, indicating that large funds are playing dead.
The key point is that the lower Bollinger band has dropped to 105415.6, but on-chain data shows there is a pile of 180 million USD in stop-loss orders at the integer level of 105200, which is clearly a minefield set by the main forces. Now the mouth of the trumpet is getting wider, with the difference between the upper and lower bands expanding from 800 dollars yesterday to 914 dollars now, which clearly indicates that something big is brewing.
On the news front, there are two bearish factors today: the recently released PPI data from the US exceeded expectations, and the Federal Reserve quietly withdrew 35 billion in liquidity. The market reaction is very real, with a wall of sell orders for 35,000 BTC at the price level of 106400, but the main force chooses not to crash the market directly; instead, they are playing a roller coaster game with fluctuations of 500-800 dollars. The 15-minute money flow indicator has shown a divergence signal. If it dares to hit the lower Bollinger band at 105415, I will definitely place an order at 105300 to pick up cheap, but at most I will take 20% of my position to test the waters.
Right now, this market is all about patience. To break through 106400, we must release a volume of 3,000 BTC per minute. Watching the order book, it is found that there are support orders of 200-300 BTC every five minutes at 106330, but they pull back after being filled, which is a typical fishing tactic by the main forces.
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