Why can't BTC break above $110,000 this time? The 107,000 defense line has been breached
The reason is that BTC faced over ten million dollars in spot selling pressure twice during the day:
1. 3:56, Binance major seller offloaded $15.02 million,
Selling pressure increased, BTC failed to stabilize above 107,000 in the short term.
2. 14:28, a large holder on Coinbase sold $12.69 million,
BTC briefly surged to 108,050 before falling back below 107,000.
Currently, major players often sell at important resistance levels, creating local highs and forming short-term downward pressure. For example, from May 18 to 19, Binance major sellers cumulatively offloaded $41.6 million at the 105k/106k/107k levels, and BTC subsequently corrected over 4.6%:
Recently, the market has been experiencing repeated double kills of bulls and bears, so be cautious!!!
If you want to seize this bull market, it's definitely too late to learn and sell on the spot,
It's best to have someone to guide you quickly. I'm a wandering traveler, welcome to connect!
