Technical Analysis of $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 appeared below the zero axis, and the volume of the histogram rapidly increased, indicating that the short-term bearish momentum has been exhausted.

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

Pattern Analysis: A typical V-shaped reversal pattern is presented, rapidly rebounding from the low on June 5, indicating strong buying support at lower levels.

Market Dynamics

Market Sentiment: The Fear and Greed Index has risen to 69 (Greed Zone), but high leverage has 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, with institutional short-term profit-taking sentiment increasing.

Miner Selling Pressure: Daily sell-off volume has increased to 15,000 coins, which may suppress the short-term rebound.