"BTC broke through 104,000 but closed with a bearish candle. Is it a trap or a consolidation? Focus on these key levels!"
"BTC briefly broke through 104K and then slightly retraced. It seems weak, but there are several details in the market worth noting:
1⃣ Divergence between volume and price: Although the price set a new high, the trading volume decreased by more than 20% compared to the previous high (around 102K), indicating insufficient momentum for the breakout, and there may be a need for a pullback in the short term.
2⃣ Derivatives signals:
The perpetual funding rate remains at 0.01% (neutral to bullish), but the proportion of sell orders in block trades has surged (data source: CoinGlass)
The options Put/Call Ratio has risen to 0.7, with some whales beginning to hedge risk.
3⃣ Key support/resistance:
Breakout confirmation level: Stabilizing above 104,500 (CME gap fill) → opens up space to 110K
Defensive range: 102,800 (previous high turned support). A drop below this level could retest the psychological level of 100K.
📌 My operational logic:
No changes to spot positions for now (holding coins is the way in a bull market)
Contract traders may consider shorting high and longing low in the range of 104,500-102,800 (strict stop loss at 3%)
Pay close attention to the fund flow after the US stock market opens tonight (correlation rising to 0.8+)
(DYOR! The market is always smarter than people)
Did you get on board during this breakout? Or are you waiting for a pullback? 👇"
