$BTC
The large pancake has closed the monthly line, and the trend has not changed after the monthly line is switched.
The probability of a significant drop in the short term is low, and it is difficult to reverse the monthly level trend.
Key attention should be paid to whether it breaks below 100500.
If it breaks below, the decline may be more intense, but it cannot be said that we immediately enter a bear market.
The previous support level at 106000 has been broken, which should technically indicate a bearish outlook.
However, the flow of funds in the market is preventing the price from continuing to fall, and it has even pushed both the price and premium up.
When the price dropped from 106000 to around 103000, the number of people buying spot increased, while those shorting futures also increased, and some long futures traders were withdrawing their orders.
In this situation, the price trends of spot and futures are opposite, making it easy to lose money by blindly shorting. Those shorting should be careful of a sudden price rebound, which could result in being trapped.
There is not much liquidity over the weekend, and the market remains favorable for bears.
Key focus for next week:
Thursday 20:30 Unemployment claims
02:00 Federal Reserve releases the Beige Book on economic conditions
Friday 20:30 US May unemployment rate / US non-farm data
Happy Children's Day to the little treasures 🎉
Remember to follow Hashini～
