Technical Analysis $BTC

Short-term Trend: Bitcoin has strongly rebounded from the low of $100,377 on June 5, showing strong buying support.

Technical Indicators:

RSI Indicator: Quickly rebounded from the oversold area to around 55, indicating strong rebound momentum.

MACD Indicator: A golden cross occurred below the zero axis, with the histogram volume rapidly increasing, indicating that the short-term downward momentum has been exhausted.

Bollinger Bands: The lower band around $101,000 provides strong support, and the price has now returned to operating above the mid-band of the Bollinger Bands.

Pattern Analysis: A typical V-shaped reversal pattern is present, with a rapid rebound from the low on June 5, indicating that the market has received strong buying support at low levels.

Market Dynamics

Market Sentiment: The Fear and Greed Index rose to 69 (Greed Zone), but high leverage led to over $452 million in liquidations across the network in 24 hours, with short positions accounting for 57%.

Capital Flow: Bitcoin ETF saw a net outflow of $616 million in a single day, setting a recent record, and institutions are increasingly willing to take short-term profits.

Miner Selling Pressure: Daily selling volume increased to 15,000 coins, which may suppress short-term rebounds.