$BTC Tug-of-war: Key Levels Become the Deciding Factor
Brothers, this market movement has left me feeling uneasy! In the last 12 hours, there have been hidden currents in the market. Although the large buy and sell orders appear balanced, a closer look at the top five transaction amounts reveals that three major sell orders have directly dumped $105 million.
Especially those two market orders exceeding $74 million in the early morning, which crazily pressed down around $104,300 and $106,000. These two price levels instantly became the "life and death line" for the bulls—whoever charges gets crushed, and the main force clearly set up a tollgate here!
Now the 2-hour K-line has formed a doji, and the trading volume has been halved to recent levels, making the market feel as quiet as a vegetable market in the middle of the night.
I am very familiar with this pattern; every time a doji appears, it means both sides are exhausted from the fight, and what comes next could either be a sharp rise or a collapse.
Looking again at the EMA24 and EMA52 moving averages, they are both pressing down sharply, and the technicals are practically handing knives to the bears.
I think the main force is currently playing a psychological game: first, they scare off the late buyers with a market dump, then trick the bottom-fishing bulls with a fake rebound, and finally execute a secondary sell-off to clear the market.
The most critical point right now is the $104,500-$106,000 range. If it cannot hold, the "faith bottom" at $100,000 is likely to be breached.
But to be honest, the macro environment has been unsettled recently. U.S. tariffs and Middle East tensions could trigger a black swan event at any moment. In this market, I would rather sit back and watch than become cannon fodder.
Are you stuck? When will you buy the dip? As always, if you feel lost and unsure about what to do, just hit the like button or comment. I need fans, and you need references.
