Technical Analysis of $BTC

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

Technical Indicators:

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

MACD Indicator: A golden cross appeared below the zero axis, with rapidly increasing volume, indicating that 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 middle band.

Pattern Analysis: Exhibiting a typical V-shaped reversal pattern, it quickly rebounded from the low point on June 5, indicating that the market has gained strong buying support at low levels.

Market Dynamics

Market Sentiment: The Fear and Greed Index has risen to 69 (Greed Zone), but high leverage has led to more than $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, with institutions showing an increased willingness to take profits in the short term.

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