Alert! $BTC Critical Defense Line in Danger
Dear friends, this market trend is making my palms sweat!
The market has reached a critical position, and we must keep a close watch.
First, let's talk about the support area around 105400, it's practically a meat grinder! The member data shows that over 6% of the chips have piled up at this position, and both sides are fighting fiercely.
At this time, it's easy for unexpected events to occur, either a violent rebound or a direct breakdown, so we must closely monitor the market movements.
The technical indicators are all showing danger signals! The KDJ indicators have just formed a death cross, and the market has also developed a top reversal structure. This combination clearly indicates a downward trend in the short term.
Don't be fooled by the price still hanging above the EMA dual moving averages; the MACD's red bars are getting shorter and shorter, indicating that this upward movement is clearly losing momentum.
What I’m most worried about now is the 105300-105500 range. If it can't hold tonight, we could drop to the danger zone of 104800 in no time.
If this position breaks, all the friends who were bullish before will be crying in the bathroom. From on-chain data, it seems the main players have been secretly unloading near 105000 these past two days, and the selling pressure is visibly increasing.
In terms of operation, I advise everyone not to rush into actions. This position is like a powder keg. If 103800 breaks, you must run faster than a rabbit. If we can hold the current support, we might see a rebound to 107000.
As for the next layout direction, expecting a space of more than 10 times is definitely not a problem. Like + comment, and I'll guide you through the entire bull market!
