BTC may start a weekly-level correction!

The major cryptocurrency has rebounded on low volume. Pay attention to the market's trading volume after today's US stock market opens. The resistance level is near the previous high. If it continues to make new highs with relatively low volume, the probability of a false breakout will be very high. There are signs of divergence at the weekly level, and this pattern indicates a demand for market correction, especially when prices rise without sufficient volume, making it difficult for the major cryptocurrency to initiate a new upward trend.

Currently, various technical indicators are very weak, whether it's the death cross of the five-day cycle KDJ or the MACD divergence at the weekly level, both show a trend towards correction. Pay attention to the conclusion of the Bitcoin conference tonight, as any good news from the conference could lead to sell-offs.

From a funding perspective: As of now, the likelihood of maintaining the benchmark interest rate unchanged in June has reached 94.4%. ETF capital inflows are slowing down, posing liquidity risks in the short term.

From a technical perspective: Currently, the small-level resistance is around 109800, while the large-level resistance is around 112300-112500. I predict two scenarios for tonight's price movement: the first scenario is a direct drop near 109800 leading to a daily-level correction, breaking below this upward trend line (which has supported six times already, with each rebound being smaller); the second scenario is a false breakout over the previous high of 112000 reaching around 112500, forming a false breakout before starting to correct. The support levels at the daily level are 102500 and 97800.